Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
TOP Secret deal: an asset acquisition by Superior Pipeline was made in complete anonymity
11/15/2021
Who is the mysterious seller: Durango or Tenawa? We shall see.
It has been announced that Superior Pipeline Co. LLC was successful in its purchase of natural gas gathering and processing assets in central Kansas. These assets consist of a 1,620-mile gathering system and an 85 MMcf/d cryogenic processing plant. No financial details of the deal have been disclosed as of yet.
At least for now, it remains unclear who is the other party in this transaction. In a bid to amend this secret, we narrowed the circle of likely suspects with the help of our market data to just two of them: Durango and Tenawa. According to our maps, they both suit the profile perfectly. Yet further investigation is needed.
As of Nov. 1, 2021, the acquisition became financially effective. Superior's existing infrastructure in the area will be majorly complemented by it: with the added capacity, the company will be able to serve more operators in the Midcontinent, which should expand its customer base.
According to Bill Ward, the company's senior vice president of commercial activities, this acquisition is one more step in Superior Pipeline's growth strategy that aims to consolidate synergistic assets in its core area in order to increase value for shareholders.
As for Superior Pipeline Co. LLC itself, this midstream energy company boasts full-service capabilities for natural gas gathering, handling, compression, dehydration, transportation, and marketing of natural gas and NGL.
Superior's expanding operations are spread all across the Texas and Oklahoma panhandle, Central-Western Oklahoma, Southeast Oklahoma, Southeast Texas, and the Appalachian region which includes Pennsylvania and West Virginia. Its midstream service volumes exceed 465 MMcf/d, while throughput volumes of NGL are way over 700,000 gallons/day already. And those numbers are only set to expand thanks to the mentioned transaction.
This secretive company is a joint venture, owned equally by Unit Corporation and SP Investor Holdings, LLC, a holding company, which simultaneously belongs to OPTrust and Partners Group, a global private markets investment manager.
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.
The green trend: TC Energy pledges to be carbon-free by 2050
TC Energy, the Canadian gas giant, recently announced its environmental, social, and governance goals, as well as emission reduction strategies. The company aims to become 100% emission-free by 2050 while promising to cut greenhouse gas emissions intensity from its operations by 30% by 2030 as an interim measure.
Expansion Is The Goal: Ironwood II Completes Asset Merger And Assumes Management of Nuevo Midstream Dos’ Eagle Ford Assets
Ironwood Midstream expanded its operations in the Eagle Ford region through its merger with Nuevo Midstream. Thanks to this, Ironwood II has increased its crude oil and natural gas throughput capacities in the famous shale to approximately 400,000 bbl/d and 410 MMcf/d, respectively. With 390 miles of pipelines, the company manages 245,000 acres of dedicated land.
In Wyoming during 2023, the oil and gas industry experienced various trends and developments. Wyoming ranked 8th nationally in both crude oil and natural gas production, significantly contributing to the economy through property and severance taxes. The state had a peak of 27,951 producing wells in 2022, including oil and gas wells, with 33 operating gas plants processing nearly 97% of the state's gas production. Notably, 21 of Wyoming's 23 counties produce oil and/or natural gas, with Converse County leading in crude oil production and Sublette County in natural gas production. U.S. Energy Information Administration (EIA) predicted that crude oil production across the United States would increase to 12.8 million b/d in 2024. Throughout 2023, oil production in Wyoming showed an upward trend, with more than 95 million barrels expected to be produced, an increase of about 3 million barrels from 2022. This rise in oil production was partly attributed to the completion of 110 newly drilled oil wells in the first half of the year, mainly in the Powder River Basin. However, natural gas production faced a decline due to the aging of wells and a low number of new gas wells being completed. Only 18 new gas wells were finished in the first half of 2023, with a noted interest in drilling applications, suggesting potential future developments.
XCL Resources is seeking approval from the Federal Trade Commission (FTC) for its proposed acquisition of Altamont Energy LLC, another Utah-based oil producer. This initiative is backed by XCL's parent entity, EnCap Investments LP, a notable private equity firm. Discussions about purchasing Colorado-based Altamont Energy began in the previous summer, as highlighted in FTC documentation.
Tallgrass Energy has started a new open season for the Pony Express Pipeline, and this is the second time they're doing it in 2024. They're looking for companies that want to move their crude oil from the Williston Basin and are offering special rates as an incentive. This 30-day event kicked off on March 11. To get the full details, companies need to sign a confidentiality agreement with Tallgrass.