From Reuters Canadian energy company Enbridge Inc said the section of its Texas Eastern pipeline in Kentucky that exploded on Thursday, killing one person, will remain shut through at least Aug. 12. Enbridge said in a notice to customers Monday afternoon it is working with federal and state officials investigating the incident and has not estimated when the damaged section
By Tyler Losier, Energy Reporter, Oil & Gas 360 Lime Rock Resources purchases 350,000 net surface acres of overriding royalty interests from Range Resources Corporation Lime Rock Resources, the E&P arm of private equity firm Lime Rock Partners, has closed on the acquisition of a non-operated overriding royalty interest (ORRI) in 350,000 net surface acres of the Marcellus shale, representing
By Tyler Losier, Energy Reporter, Oil & Gas 360 Range sells royalties in 350,000 net surface acres for $600 million, 20,000 non-producing acres for $34 million Range Resources Corporation (stock ticker: RRC), a Fort Worth-based independent E&P, has agreed to sell a 2% proportionately reduced overriding royalty interest in 350,000 net surface acres of its southwest Appalachian Basin assets. The
By Tyler Losier, Energy Reporter, Oil & Gas 360 UGI subsidiary to acquire Columbia Midstream from TC Energy subsidiary UGI Corporation (stock ticker: UGI) subsidiary UGI Energy Services has signed a definitive agreement to acquire the equity interests of Columbia Midstream Group (CMG) from a subsidiary of TC Energy Corporation (stock ticker: TRP) for approximately $1.275 billion. The assets owned
By Tyler Losier, Energy Reporter, Oil & Gas 360 New $3.8 Billion JV in the Marcellus/Utica Williams (stock ticker: WMB), an energy infrastructure company headquartered in Oklahoma, completed the formation of a $3.8 billion joint venture today with the Canada Pension Plan Investment Board (CPPIB). As part of the deal, which was first announced back in March, CPPIB trades approximately
By Tyler Losier, Energy Reporter, Oil & Gas 360 Oilfield service consolidation rolls on C&J Energy Services (stock ticker: CJ) and Keane Group, Inc. (stock ticker: FRAC) have entered into a definitive agreement to combine in an all-stock merger of equals. Upon close, the merger will create a well completion and production services company with a presence in most active
Natural gas liquids production in the Marcellus and Utica formations expected to nearly double in Ohio, Pennsylvania and West Virginia, drawing petrochemical expansion According to a new study from IHS Markit, the Marcellus and Utica shale formations’ production will increase exponentially in the next two decades, driving petrochemical growth in the region. Natural gas from the tri-state region of Ohio,
Antero CapEx down 15% from 2018 levels The recent decrease in oil prices has driven many companies to curtail capital spending plans, as Permian heavyweights Diamondback Energy (stock ticker: FANG) and Parsley Energy (stock ticker: PE) have both announced slow spending. This shift is not constrained to merely oil producers, however, as Antero Resources’ (stock ticker: AR) spending plan reveals.
Chesapeake Energy (stock ticker: CHK) has signed up with Hi-Crush Partners LP (stock ticker: HCLP) for a new, long-term frac sand supply agreement for the in-basin purchase of Northern White frac sand to support Chesapeake’s completions program in the Marcellus and Powder River basins. Hi-Crush Partners announced a long-term contract with Chesapeake Energy to supply Northern White sand to Chesapeake’s Marcellus and
November 01, 2018 16:40 ET | Source: Range Resources Corporation FORT WORTH, Texas, Nov. 01, 2018 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that Steve Gray has been appointed to the Company’s Board of Directors. Mr. Gray’s appointment is effective October 30, and was mutually agreed upon by the Company’s Board of Directors and SailingStone Capital Partners, LLC. Mr. Gray will serve on the
Southwestern Energy (ticker: SWN) reported its Q3 results and held its Q3 earnings call today, providing more information about Northeastern Appalachian dynamics, NGL production growth, and also discussed the merits of liquid-rich wells. Highlights from the Q3 results include: Generated positive net cash flow after capital investment; full year capital guidance unchanged Reported net cash provided by operating activities of
Houston-based Cabot Oil & Gas (ticker: COG) provided an operational update for its third quarter yesterday, in light of the in-service date delay for the Atlantic Sunrise Project from August 2018 to October 6, 2018. Notable points in the operational update: Expected net production for 3Q 2018 of 2,029 Mmcfe/d. 7% sequential increase in daily net production relative to 2Q
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