Target Hospitality purchases Delaware Lodging, including the mancamp in Orla. 575 rooms in the acquisition.
Deal signed for Whistler Pipeline, a 42" line from Waha to Agua Dulce near Corpus Christi.
Article predicts Lea Co. will be #1 oil producing county in the US by next year, with Eddy Co. becoming #2 within two more years.
You may have seen this in other threads, but Legacy Reserves filed a pre-packaged Ch. 11. They have a lot of legacy (pun intended) leases in the Permian they have done little or nothing with. Royalty owners are supposed to be paid during the Chapter 11. Let’s hope this results in the leases getting in the hands of someone who will do something with them.
Not the Permian, but the Scoop and Stack play in Oklahoma continues to disappoint, and rig counts have been steadily dropping there. May cause further retrenchment into the Permian like we saw in 2014.
Altus Midstream, the Apache midstream JV, raised $625 million in equity. Will be interesting to see how Altus does in the short term with Apache’s shut in of gas wells.
Jumar entered into a joint development agreement with Mongoose to develop their Pecos Co. acreage.
Wow! Thanks for good news Wade! Can you tell me anything about a company called Advance Energy Company LLC? Based in Houston, I believe.
Small Encap financed company with 14,000 scattered acres in the Permian. Have not really run across them much.
Thank you. They acquired my mineral lease from Santo Petroleum for Lea County, NM. I’m now “stuck” for 2 years. More if they start producing!
Wade, do you know much about a company called “Joint Resources co.” Or “Adobe Energy”?
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Callon and Carrizo are merging, with Callon being the acquirer. They have a lot of acreage close to each other in East Reeves and West Ward, but also a lot of scattered acreage, especially Carrizo. If Carrizo is your operator, you should probably be pleased.
Longhorn is building a gas gathering system in the Northern Delaware.
Interesting article on how operators notify surrounding operators they are about to frac a well. Usually the surrounding operator will shut in its wells during a nearby frac to lessen the effect on performance.