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  • UPSTREAM

    SECTIONS: INTERNATIONAL | NORTH AMERICA

     

    LATEST UPSTREAM NEWS

    Newly-formed Ajax Resources acquires Permian assets from W&T Offshore

    Sep 1, 2015

    Ajax Resources LLC and affiliates of Kelso & Company have entered into a definitive agreement with W&T Offshore Inc. (NYSE:WTI) to acquire W&T’s interest in the Yellow Rose field in the Permian Basin of West Texas for $376.1 million, subject to customary closing adjustments.

    Twin Eagle breaks ground on Permian Rail Park

    Sep 1, 2015

    Twin Eagle Sand Logistics LLC, a subsidiary of Twin Eagle Resource Management LLC, has broken ground on the Permian Rail Park located on the Union Pacific Railway approximately eight miles west of the city of Big Spring, Texas.

     

    Gastar borrowing base maintained at $200M

    Sep 1, 2015

    Gastar Exploration Inc. has completed its second scheduled borrowing base redetermination of its revolving credit facility for 2015 and, as a result, the borrowing base has been reaffirmed by the lending participants at $200 million.

    LINN closes sale of remaining Permian Basin Wolfcamp acreage

    Aug 31, 2015

    LINN Energy LLC has closed the sale of its remaining position in Howard County in the Permian Basin for a contract price of approximately $281 million, subject to pre- and post-closing purchase price adjustments.

    Penn Virginia closes sale of East Texas assets

    Aug 31, 2015

    Penn Virginia Corp. has closed the sale of its East Texas assets. The net cash proceeds from the sale were approximately $74 million, including customary closing adjustments.


    WPX Energy sells Van Hook gathering system

    Aug 31, 2015

    WPX Energy has agreed to sell a North Dakota gathering system for $185 million to a private equity fund managed by the Ares EIF Group, a subsidiary of Ares Management LP.

    Summit Midstream COO plans to depart in September

    Aug 26, 2015

    Summit Midstream Partners LP’s COO, Rene Casadaban, plans to leave the company to pursue other interests. He will continue his employment with the company until Sept. 30 to help transition his duties.

    RSP Permian completes bolt-on Midland Basin acquisitions and increases borrowing base

    Aug 26, 2015

    RSP Permian Inc. has closed its bolt-on acquisitions in the company's existing core operating areas in the Midland Basin for an aggregate purchase price of $274 million in cash. 

    Encana divests Haynesville natural gas assets for $850M

    Aug 25, 2015

    Encana Oil & Gas (USA) Inc., a subsidiary of Encana Corp., has agreed to sell its Haynesville natural gas assets, located in northern Louisiana, to GEP Haynesville LLC, a joint venture formed by GeoSouthern Haynesville LP and funds managed by GSO Capital Partners LP.

    Oil production grows in Bakken and Eagle Ford

    Aug 21, 2015

    Oil production from key shale formations in North Dakota and Texas increased slightly in July from June, according to Bentek Energy, an analytics and forecasting unit of Platts.

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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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