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-and-Silver-Hill-Reached-a-Agreement-Over-Haynesville-Assets-Deal-is-Sealed](https://images2.rextag.com/public/blog/Pine_Wave_Energy_assets_on_sale_in_Haynesville.png)
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.
$690 Million Deal Moves Ahead: Crescent Energy to Complete Purchase of EP Energy's Uinta Assets
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/56Blog_Crescent_Bought_EP_Energy's_Uinta_Assets.png)
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.
$1B Deal: Williams Buys Out Houston-based Midstream in Haynesville Basin
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/52Blog_Williams_Acquires_Assets_from_Trace_in_Haynesville.png)
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
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/297_Blog_Keystone XL Pipeline Controversy and Wildlife Disaster From Trump's Green Light to Biden's Red Light on the 15 Billion Project.jpg)
The pipeline industry in the USA faced and still faces a range of regulatory challenges, including permitting delays, environmental requirements, and public opposition to pipeline projects. In recent years, pipeline projects like the Keystone XL and Dakota Access pipelines had legal and regulatory obstacles that delayed or canceled their construction. Keystone XL Pipeline, proposed by TransCanada in 2008, aimed to transport crude oil from Canada (around Calgary and Edmonton) to refineries on the Gulf Coast (Port Arthur). The project faced opposition from environmental groups and indigenous communities, who argued that it would contribute to climate change and pose a risk to water resources. In 2015, President Obama rejected the project, citing concerns about its environmental impact. However, in 2017, President Trump revived the project, leading to further legal challenges. In June 2021, U.S. President Joe Biden officially canceled the project on his first day in office.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/282_Blog_Renewable Natural Gas How RNG Changes the Industry.jpg)
The renewable natural gas (RNG) industry in the United States is showing promising signs of growth. As of 2019, the U.S. consumed 261 billion cubic feet (BCF) of RNG, primarily utilized by independent power producers, electric utilities, and various commercial and industrial entities. However, this figure represents only a small fraction of its potential. Research indicates that the U.S. could theoretically produce up to 2,200 BCF of RNG through anaerobic digestion alone, which would equate to about 11% of daily national natural gas consumption.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/295_Blog_Renewable Efforts Lag as Global Oil and Gas Demand Continues to Rise.jpg)
Recently, the progress toward an energy transition is hitting a snag. Sales of electric vehicles are decelerating, and the growth in wind and solar power needs to be keeping pace with expectations. To make matters more challenging, electricity prices are climbing when they were expected to fall. Amidst these setbacks, the oil and gas sectors are proving resilient. According to BP's latest energy outlook, not only are these energy mainstays here to stay, but their demand is expected to remain relatively high even after reaching a peak. Interestingly, BP forecasts that oil demand will reach its zenith next year, marking a critical moment in energy consumption trends. This isn't the first time BP has projected a peak in oil demand. Back in 2019, their review anticipated a decline in demand growth, but the prediction fell flat. Instead, oil demand surged to unprecedented levels following the end of the global pandemic lockdowns, defying previous forecasts and underscoring the enduring dominance of traditional energy sources in the global market.