Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
Pine Wave Energy and Silver Hill Reached an Agreement Over Haynesville Assets — Deal is Sealed
03/20/2022
Pine Wave Energy Partners LLC, which is headquartered in Fort Worth, announced on March 14 it has entered into a definitive agreement with affiliate companies of Silver Hill Energy Partners III, to sell some of its Haynesville properties located in Caddo Parish, Louisiana, and Harrison and Panola counties, Texas.
Approximately 12,500 acres and ownership interests in 10 operated wells with a production capacity of 100 million cubic feet per day are included in these Pine Wave's assets. In addition to the midstream infrastructure, all 18 miles of natural gas gathering pipelines located in Caddo Parish and Panola County are part of the deal.
Pine Wave expects to close the transaction in the second quarter of 2022. Still, it will continue operating its other properties and exploring new opportunities under the portfolio company of Old Ironsides Energy LLC. The company will not leave the market but shift its attention.
According to Ben Hunter, CEO of Pine Wave, this transaction with Silver Hill is a significant step in the Pine Wave’s story. Over the past four years, the company has worked hard to build an outstanding position in Haynesville and was able to forge an ongoing and fruitful partnership with Old Ironsides. And now Pine looks forward to leveraging its operational focus to the next venture.
Silver Hill, on the other hand, is excited about reaping Pine's hard work. These high-quality assets will directly counterbalance their operations in the Haynesville Shale. A transaction of this kind will allow the company to further expand its range of development assets in an area that continues to offer tremendous potential.
As so happens, Silver Hill Energy Partners III is a leading private oil and gas company headquartered in Dallas, Texas, and presided over by Kyle D. Miller, who founded it in 2011. Its first two iterations, Silver Hill I & II, generated strong risk-adjusted returns across cycles for a diversified base of investors, including private equity, institutions, and family offices.
As for Pine Wave Energy, it is a privately-held energy company strategically focused on exploring and developing unconventional oil and gas resources across select regions of east Texas and northwest Louisiana. It was founded in 2018 by Ben Hunter, chief executive officer, Ben Voigt, executive vice president, and Stephen O'Neal, executive vice president, and general counsel.
In regards to the legal side of the deal, Silver Hill was represented by Shearman & Sterling LLP, and Pine Wave was represented by Akin Gump Strauss Hauer & Feld LLP.
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
$690 Million Deal Moves Ahead: Crescent Energy to Complete Purchase of EP Energy's Uinta Assets
Crescent Energy closed the acquisition of Uinta Basin assets in Utah that were previously owned by EP Energy for $690 million, a few hundred million dollars below the original price. The accretive deal increases Crescent's Rockies position and adds significant cash flow and a portfolio of high-quality oil-weighted undeveloped sites. In addition to its acquired Uinta assets, Crescent's pro forma year-end 2021 provided reserves totaled 598 million boe, of which 83% was developed, 55% was liquid, and its provided PV-10 was $6.2 billion.
$1B Deal: Williams Buys Out Houston-based Midstream in Haynesville Basin
By purchasing the gathering and processing assets of Trace Midstream, Williams' existing footprint gains expanded capacity in one of the nation's largest growth basins, bringing its Haynesville gathering capacity to over 4 Bcf/d — increasing more than 200% from 1.8 Bcf/d. The deal also includes a long-term commitment from Trace and Quantum to support Williams' Louisiana Energy Gateway project (LEG), which is aimed to deliver responsibly sourced Haynesville’s naturalgas to markets along the Texas and Louisiana GulfCoast
Can Oil-Rich Texas Be a Clean Energy Titan: Sugary Sweet Attempt at Leading the Renewable Revolution
Texas is taking bold steps toward a future powered by clean energy. Once known mainly for its oil and gas, the state is now a leader in wind, solar, and battery storage. But as electricity demand grows, so do the challenges of balancing energy needs with infrastructure limits. Here’s a look at how Texas is transforming and what hurdles lie ahead + find out who works with Facebook’s parent company Meta on new technology across the U.S.
Power Plants: 124955 MW Solar: 63726 MW Wind: 2204 MW Biodisel Plants: 1.5 Mmgal/yr capacity Source: Rextag Energy DataLink
The future once seemed optimistic for America’s climate ambitions, with rapid growth in renewable energy propelling the nation toward a cleaner, more sustainable future. However, a sobering reality has begun to sink in: despite some progress, the transition from fossil fuels is slowing down, and global emissions continue to rise.