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  • UPSTREAM

    SECTIONS: INTERNATIONAL | NORTH AMERICA

     

    LATEST UPSTREAM NEWS

    Legacy updates on Permian funding and on East Texas purchase

    Jul 6, 2015

    The operating subsidiary of Legacy Reserves LP (Nasdaq: LGCY) has entered into an agreement with funds managed by TPG Special Situations Partners (TSSP) to fund horizontal development of certain of Legacy's Spraberry, Wolfcamp, and Bone Spring rights in the Permian Basin. Additionally, Legacy has entered into separate agreements with affiliates of Anadarko Petroleum and Western Gas Partners LP to purchase natural gas properties and gathering and processing assets in East Texas for a combined $440 million.

    Gastar closes sale of non-core Oklahoma assets

    Jul 6, 2015

    Gastar Exploration Inc. has completed the sale of certain non-core assets in Oklahoma to an undisclosed private third party for a total of $46.1 million of net proceeds. 

    LINN Energy signs funding agreements, sells remaining Wolfcamp assets

    Jul 6, 2015

    LINN Energy LLC has signed definitive agreements with Quantum Energy Partners and with GSO Capital Partners LP, the credit platform of The Blackstone Group LP. Additionally, LINN Energy has signed a definitive agreement to sell its remaining position in Howard County, Texas, in the Permian Basin for a contract price of $281 million.

    Southcross completes NGL pipelines, updates on Eagle Ford fractionator

    Jul 6, 2015

    Southcross Energy Partners LP has completed a 60,000-bbl/d Y-grade pipeline connecting Southcross’ Woodsboro processing facility to Southcross Holdings LP’s 63,000-bbl/d Robstown fractionator near Corpus Christi, Texas, and a 20,000-bbl/d propane pipeline from Southcross’ Bonnie View fractionator to the Corpus Christi area for delivery to end-use customers (collectively, the NGL Pipelines).

    Columbia Pipeline Group spins off from NiSource

    Jul 2, 2015

    On July 1, NiSource separated Columbia Pipeline Group into a stand-alone publicly traded company. Each NiSource shareholder at the time of the separation received one share of Columbia Pipeline Group for each share of NiSource.

    Hess completes sale, establishes Bakken midstream JV

    Jul 2, 2015

    Hess Corp. has completed the sale of a 50% interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion.

    Comstock to divest certain East Texas assets

    Jul 2, 2015

    Comstock Resources Inc. has entered into a definitive purchase and sale agreement with a private company to sell Comstock's oil and gas properties in and around Burleson County, Texas, for a sale price of $115 million.



    EIA: Outside North America, Argentina and China lead shale development

    Jul 1, 2015

    As recently as last year, only four countries in the world were producing commercial volumes of either natural gas from shale formations (shale gas) or crude oil from tight formations (tight oil): the US and Canada, and, more recently, Argentina and China, according to the US Energy Information Administration.

    Primus Green Energy offers small-scale STG+ solution for flared gas applications

    Jun 30, 2015

    Primus Green Energy Inc., a gas-to-liquids (GTL) technology development company that transforms methane and other natural gas and oilfield feedstocks into end products including transportation fuels, methanol, and diluent, has developed a small-scale GTL solution for flared gas applications using the company’s proprietary STG+ technology.  

    Far East Energy secures new facility agreement and extension of term loan facility

    Jun 30, 2015

    Far East Energy (Bermuda), Ltd. (FEEB), a wholly owned subsidiary of Far East Energy Corp., has entered into a $4 million term loan facility agreement (TLFA), effective June 26, with the lenders party thereto; and, further announces that an extension of the maturity date of the existing $1.4 million original TLFA (OTLFA) that FEEB entered into on Feb. 24 with the lenders party thereto.

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    INTERNATIONAL UPSTREAM

    Carnarvon to explore two permits in Barrow sub-basin

    Jun 5, 2014

    Carnarvon Petroleum Ltd. has been awarded two contiguous blocks on the eastern flank of the prolific oil producing Barrow sub-basin: Petroleum Exploration Permit EP-490 (bid block L11-6) and TP/27 (bid block T11-3) offshore Western Australia. Carnarvon is the operator and 100% working interest holder in these blocks, which cover a total area of 675 square miles (1,750 square kilometers).

    Report predicts surge in world subsea expenditure

    Jun 5, 2014

    Global subsea hardware capex could total $117 billion between 2014 and 2018, according to Douglas-Westwood’s latest market forecast.

    Hitachi Solutions Canada to unveil JV solution for oil and gas industry

    Jun 4, 2014

    Hitachi Solutions Canada, a global provider of industry solutions based on Microsoft Dynamics AX, will be launching an oil and gas joint venture solution using Microsoft Dynamics AX 2012.

    Primoris wins underground contract work valued at over $10 M

    Jun 2, 2014

    Primoris Services Corp. has received a new contract award from a midstream oil and gas customer. The new contract was secured by Sprint Pipeline Services, a division of Primoris Energy Services, a Primoris subsidiary and part of the East Construction Service segment.

    NORTH AMERICA UPSTREAM

    Alpha Crude Connector to conduct open season

    Jun 2, 2014 Alpha Crude Connector LLC intends to conduct an open season for the Alpha Crude Connector pipeline, a new FERC-regulated crude oil transportation pipeline to be located in Lea and Eddy counties in ...

    MicroSeismic names Foster as president and CEO

    May 30, 2014

    MicroSeismic Inc. has appointed Jeff Foster as the company’s president and CEO. Founder of the company and past CEO, Peter M. Duncan, will continue with MicroSeismic as co-chairman.

    KMP to expand carbon-dioxide infrastructure

    May 8, 2014

    Kinder Morgan Energy Partners LP is set to invest $671 million to grow its carbon-dioxide infrastructure in southwestern Colorado and New Mexico.

    TPC Group expands polyisobutylene capacity

    May 1, 2014

    TPC Group, a provider of C4 based products and services, has achieved a milestone in its comprehensive expansion program to increase polyisobutylene capacity.

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