By Tyler Losier, Energy Reporter, Oil & Gas 360 Lime Rock Resources acquires land from BP Lime Rock Resources, a private equity firm and operator under the umbrella of Lime Rock Partners, announced today that it has signed a definitive agreement with BP America Production Company to acquire oil and gas assets in Cleveland and McClain counties, Oklahoma. The transaction
From Bloomberg Over two million barrels a day of new pipe capacity planned, Storage capacity at Cushing could reach 100 million barrels America’s largest oil hub in Cushing, Oklahoma, is growing even as producers and traders look to move surging West Texas production to the coast for export. The U.S. petroleum industry is planning to build about 4.8 million barrels
By Tyler Losier, Energy Reporter, Oil & Gas 360 White Star receives $28.5 million in committed financing White Star Petroleum, LLC, a privately held independent E&P headquartered in Oklahoma City, is exploring strategic alternatives after commencing voluntary Chapter 11 with the support of its primary secured creditors. The company received $28.5 million in committed “debtor-in possession” (DIP) financing to
By Tyler Losier, Energy Reporter, Oil & Gas 360 Chansoo Joung joins Tulsa, Oklahoma Company Magellan Midstream Partners, L.P. announced this morning that it has elected Chansoo Joung as an independent board member, effectively immediately. Previously, Joung worked in the energy sector of the finance industry as a partner and senior advisor for Warburg Pincus LLC from 2005 to
By Tyler Losier, Energy Reporter, Oil & Gas 360 On May 17, Jones Energy, Inc. (stock ticker: JONEQ) emerged from Chapter 11 after satisfying the requirements of the company’s pre-packaged plan. The announcement came 33 days after the company filed for bankruptcy protection, and less than two weeks after the U.S. Bankruptcy Court for the Southern District of Texas
Citigroup and Jefferies enlisted to help determine strategy as to M&A, partnership options By Tyler Losier Roan Resources (stock ticker: ROAN), an independent oil and natural gas company based out of Oklahoma City, is enlisting the help of Citigroup Global Markets Inc. and Jefferies LLC to help explore strategic alternatives. Source: Roan Resources Over the last couple of months, Roan
CEOs rank Texas at the top, California at the bottom Chief Executive magazine has published its newest list of the best and worst states for business. Texas ranked Number One—again. California is Number 50—again. In the executive summary of its findings, the magazine quoted a consultant as saying: ” ‘the Chief Executive ranking … reflects what decision-makers are saying. And it’s what
From Reuters Growing production of Texas super-light oil – and worries about its quality compared with other types of crude – is slowing down deliveries into the main U.S. storage hub in Oklahoma, draining supply there and adding to a glut in Texas. In the last several months, drillers are producing more oil known as West Texas Light (WTL), a
Mid-Con Energy Partners, LP (stock ticker: MCEP, $MCEP) has entered into definitive agreements to sell substantially all of its Texas properties for $60.0 million and to acquire producing properties in Caddo, Grady and Osage Counties, Oklahoma for $27.5 million. The transaction is expected to close on or about March 28, 2019 with an effective date the same as the closing
Midstates Petroleum Announces Commencement of Tender Offer to Purchase up to 5,000,000 Shares of Its Common Stock at a Purchase Price of $10.00 Per Share
From The Oklahoman Bolstered by an improving economy and increased oilfield activity, the Oklahoma state treasury has taken in a record $12.8 billion in gross tax receipts over the last 12 months, State Treasurer Ken Miller announced Wednesday. Those collections are $1.5 billion, or 13.1 percent, more than collections from the previous 12 months, he reported. The previous record for
Kingfisher Country tried to ban produced water pipelines in county road easement; state high court ruled that state agency OCC has exclusive jurisdiction to regulate oil and gas operations in Oklahoma From The Journal Record OKLAHOMA CITY – A legal battle between the state’s oil and natural gas industry and local regulators came to a close Tuesday, when the Oklahoma Supreme Court decided
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