I received a contract from Centennial Resource & would like to know what is a good offer & any good or bad history with the company. I have a 2 acre lease in Reeves County lots 5-8 block 5,section271
New Apache mid-stream venture in South Reeves County.
Apache building infrastructure with ARM partnership:
Apache Corp. has been doubly challenged as it develops its massive Alpine High discovery in Reeves County.
The first challenge is building out the infrastructure to support Alpine High. The company’s second challenge is moving its production to market through a severely constrained pipeline system.
To that end, Apache’s midstream subsidiary, Apache Midstream, is teaming up with ARM Energy Holding’s affiliate Salt Creek Midstream to develop the SCM Alpine system.
“The Salt Creek Midstream project is one of many infrastructure projects Apache has secured to move products from the Permian Basin. This specific project will move natural gas liquids from Alpine High to the Waha Hub where they will then be able to access Gulf Coast markets,” Brian Freed, Apache’s senior vice president, midstream and marketing, said in an email. “NGLs are anticipated to be a key production stream as the gas in the area is high BTU and liquids rich.”
He said Apache had anticipated the takeaway bottleneck “and proactively entered into gas basis hedges, long-term gas sales contracts and firm gas transportation commitments out of the Permian Basin on both existing and future pipelines. These measures provide flow assurance and protection of our price realizations and cash flow through mid-2019 when the Gulf Coast Express project, of which Apache is an Anchor shipper, is expected to come in-service.”
On the crude oil side, Apache has joined with Noble Energy in anchoring the EPIC Crude Oil Pipeline that will carry 590,000 barrels per day from the Permian Basin and Eagle Ford to Corpus Christi.
“We have dedicated Alpine High crude to that pipeline project,” Freed said. “But in addition, it gives us the ability to move our other in-basin crude oil production on the line – up to 75,000 barrels.”
As part of that partnership, Apache has the option to acquire up to 15 percent equity in the EPIC Crude Oil Pipeline and Noble the option to acquire up to 30 percent in the crude pipeline and up to 15 percent equity in the EPIC NGL Pipeline.
Apache has the option to acquire a 50 percent stake in SCM Alpine, a 445,000-barrel-per-day natural gas liquids header system. Construction is underway, and completion is expected in the first quarter of 2019. ARM Midstream Management will construct, manage and operate the $100 million project, which is supported by 10-year commitments from Apache and Salt Creek Midstream.
Salt Creek Midstream will be comprised of multiple cryogenic processing facilities as well as natural gas and crude gathering pipelines, compression and treating facilities serving Culberson, Pecos, Reeves, Ward and Winkler counties in Texas and Eddy and Lea counties in New Mexico.
///////////Figured this would be of interest to land owners in Reeves county/////ol’ Lawrence in Verhalen
M A Smith, that’s correct. The Permian Basin is overarching and includes the Delaware and Midland Basins, which are separated by the Central Basin Platform.
Not sure what is causing the increased seismic activity but the more important issue is what does the state and feds THINK is causing it, and they seem to think, even Texas and Oklahoma, that SWD activity is causing increased seismic activity in certain areas, but not all. It may be that there are a lot more seismographs out there now, which would pick up more activity that historical records would not show. However, I have seen some pretty convincing heat maps which point to increased seismic activity.
In short, looks like it will be harder to get SWD permits in seismic prone areas. It is also accelerating the shift toward using produced water for frac and drilling operations. Just as they are building substantial water systems to bring water in, we may end up with substantial water systems to disperse produced water over a wider area.
Wade.....that's why I'm trying to get a consortium together of major oil and
gas exploration and production companies.....to operate a CRASH CRASH
Priority One research and development program to turn produced water
back into fresh drinking water.....but, we will STILL need huge surface
reservoirs to store the reclaimed water because 'they' won't allow it to be
reinjected into the fresh water aquifers of the area....claiming THAT causes earthquakes as well. The next step will be to declare the fresh water manmade holding surface reservoirs to be causing pressure
concentrations that stress the crust and....you guessed it....cause earthquakes.
But, I would like to see these surface fresh water reservoirs raising fish
for protein, the water released for vegetable farming for food for people
and fodder for dairies and beef feeder operations.
ol' Lawrence in Verhalen
Is Resolute doing any new wells in H& GN RR Co Surv blk 2, section 20 or 21?
r. eiland...........after clicking on this link check out the (3) South Goat 2 Unit wells(API 389-36597 & 37598 & 36601) I think this is what you are searching for.
Clint, thanks for the reply - I should have asked specifically if there are more wells planned in the North Mitre 2 unit of H&GN RR CO Surv bl 2, sections 21 and 20. I see a lot of action in the South Mitre 2 unit adjacent to the North Mitre 2 unit.
r. eland -- we also participate in the North Mitre unit.
Resolute's investor presentations contain a lot of good info. Their "Appaloosa" development is on page 26 of the most recent. North and South Mitre are within it.
Wonderful news.....The US Government has given permission for states (Texas) to assess tolls for use of Federal Interstate highways.......so
IH10 and IH20 will soon be toll roads. Fill the side pockets in the doors of your truck with quarters and silver dollars. You're gonna
I hope you're just kiddin'. Otherwise, I'll have to take the back roads !!!
Mike Miller.....sorry, not kidding at all. Not only are they planning to
turn IH10/20 and IH40, IH35 into toll roads in Texas....now they are
gonna add 25 cents per gallon on both gasoline and diesel at the Federal Tax level. All of that to fund renovation of the transportation system nationwide. Back to $3 to $4/gallon fuel costs.....plus whatever they charge every time you get on the interstate highways. Cost of living
is going UP.
ol' Lawrence in Verhalen
New oil field waste disposal plant in Orla on FM 652.
Three Rivers selling out - I understand the buyer is Admiral Permian out of Midland. Three Rivers has had themselves up for sale for a while.
Abraxas provides Operational, Acquisition guidance in Delaware/Permian
They are moving into Reeves and Pecos counties and have landmen
scouts out in Culberson county. They don't have the money base other
exploration companies do, but their prospects and proven production
are VERY solid.
ol' Lawrence in Verhalen
Exxon is a major player in one of the hottest oil plays in the world right now: the Permian Basin.
Right now, nearly 3 million barrels of oil is extracted from the Permian Basin on a daily basis, making up almost one-third of our total output.
So the fact that Exxon doubled its Permian acreage in 2017 and plans on boosting output in the play by 600,000 boepd makes that temptation to buy grow a little more.
That is, until you look at the rest of the field.
Take a closer look at Diamondback Energy (NASDAQ: FANG), for example.
Not only has it outperformed analyst expectations quarter after quarter for last two years, but it’s also trading at a fraction of Exxon’s market cap.
And it’s one of several smaller players that will put Exxon’s performance to shame. Since the last major bottom in oil in February of 2016, the returns haven’t even been close:
This is the kind of buy-and-hold investment that still has enormous growth potential.
Over the next few weeks, we’re going to shine the spotlight on a few other oil stocks worth a second look.
Lots of interest in 'upstart' oil and gas companies in the Permian and Delaware basins. The situation in the southern and western Delaware will only get hotter.
BTW, in Reeves and Loving counties near Orla, another 'upstart' oil company is drilling wells.....BlackMountain. And, their stablemate Eclipse Midstream Svcs is running infrastructure pipelines all over that area.
ol' Lawrence in Verhalen
My Family has minerals in Sec. 207, Blk. 13, H&GN, Reeves County, TX
Does anyone have information on the best lease rates in this area? Thank You
Sections 265 and 266 have seen lease extension bonuses of 10k and 12k
a nominal mineral acre., this last year in 2017. You are a little west of there by three or so miles.
Read over the postings on this site. You should get a good idea. Also I would recommend that you have an attorney negotiate and review the lease as this is a multilayer oil field, meaning different wells could be drilling different levels. or different companies could be paying for the different horizontal wells drilled out from a common drilling platform.
What is the reason so many oil wells have been shut in north of pecos according to RRC Viewer. PDC,Centennial, Carrizo??