Blog

Since days when shale oil and gas technologies were discovered, the U.S. energy industry has been evolving more rapidly than ever before. Many changes are amazing especially when you put them on an industry map. At Rextag not only do we keep you aware of major projects such as pipelines or LNG terminals placed in service. Even less significant news are still important to us, be it new wells drilled or processing plants put to regular maintenance.

Daily improvements often come unnoticed but you can still follow these together with us. Our main input is to “clip it” to the related map: map of crude oil refineries or that of natural gas compressor stations. Where do you get and follow your important industry news? Maybe you are subscribed to your favorite social media feeds or industry journals. Whatever your choice is, you are looking for the story. What happened? Who made it happen? WHY does this matter? (Remember, it is all about ‘What’s in It For Me’ (WIIFM) principle).

How Rextag blog helps? Here we are concerned with looking at things both CLOSELY and FROM A DISTANCE.

"Looking closely" means reflecting where exactly the object is located.

"From a distance" means helping you see a broader picture.

New power plant added in North-East? See exactly what kind of transmission lines approach it and where do they go. Are there other power plants around? GIS data do not come as a mere dot on a map. We collect so many additional data attributes: operator and owner records, physical parameters and production data. Sometimes you will be lucky to grab some specific area maps we share on our blog. Often, there is data behind it as well. Who are top midstream operators in Permian this year? What mileage falls to the share or Kinder Morgan in the San-Juan basin? Do you know? Do you want to know?

All right, then let us see WHERE things happen. Read this blog, capture the energy infrastructure mapped and stay aware with Rextag data!

Targa Resources: $3.55 Billion Cash Transaction to Acquire Lucid Energy

On June 16 Targa Resources Corp. decided to acquire Lucid Energy Group, located in the Permian Basin, which is a part of Riverstone Holdings LLC and Goldman Sachs Asset Management. Firstly, Targa enlarged due to the recent “blot-on” acquisition of Southcross Energy in the Eagle Ford for $200 million and it will become bigger thanks to the $3.55 billion cash transaction. Targa’s financial position allowed it to utilize convenient opportunities to extend its company so it bought #Lucid using available cash and debt with an estimated pro forma year-end 2022 leverage around 3.5 times. According to Targa’s estimates, the acquisition of Lucid will increase the number of natural gas pipelines by 1,050 miles and add about 1.4 Bcf/d of cryogenic natural gas processing capacity in service or under construction located mainly in Eddy and Lea counties of New Mexico. The investment-grade producers source approximately 70% of current system volumes. According to the press release, a full-year standalone adjusted EBITDA is expected to be between $2.675 billion and $2.775 billion and reported year-end leverage ratio of about 2.7 times. Targa’s updated financial expectations assume NGL composite prices average $1.05 per gallon, crude oil prices average $100/bbl, and Waha natural gas prices average $6 per MMBtu for the remainder of 2022.

Co-Location Energy Infrastructure Analysis at Your Fingertips

Your team’s ESG performance can be greatly improved applying the asset co-location analysis within upstream or midstream use cases. This has been a topic for a discussion at Rextag’s ‘Is ESG Improvement Next Door?’ webinar. We reviewed some cases like curbing gas flaring or renewable energy sourcing to power the fossil fuel infrastructure. Many combinations are available with access to the data Rextag provides on wells, acreages, power lines, substations, and such renewable infrastructure as wind turbines, methane landfills, etc.

Mutually Profitable Transaction for CA$600 Million Between BP and Cenovus

BPPlc agreed on June 13 to exit the Canadian oil sands in an asset swap with Cenovus Energy Inc. potentially worth up to CA$1.2 billion. 50% non-operated interest in the #SunriseOilSands project will be sold by BP in an agreement reached with Cenovus Energy, a company based in Alberta. Two companies agreed on the following conditions: total consideration for the transaction includes CA$600 million in cash, additionally, a contingent payment with a maximum aggregate value of CA$600 million expiring after two years, and concerning Cenovus, it will have a 35% position in the undeveloped Bay du Nord project offshore Newfoundland and Labrador. Current production from the Sunrise Oil Sands asset is about 50,000 bbl/d and the company anticipates achieving a nameplate capacity of 60,000 bbls/d through a multi-year development program.

In Matador's Favor, For $75 Million Summit Sells Its Permian Midstream Assets

Matador Resources Co. acquires a gathering and processing system for $75 million in New Mexico’s Eddy and Lea counties from Summit Midstream Partners LP, filling up Matador’s midstream portfolio in the Permian Basin. Matador reached an agreement with a subsidiary of Summit to gain Summit’s Lane Gathering and Processing System on June 9. Nowadays, the Lane G&P System combines a 60 MMcf/d cryogenic natural gas processing plant, three compressor stations, and about 45 miles of natural gas gathering pipelines. As an investor presentation says, Matador began its initial midstream build-out in the Delaware Basin in 2015-2016. Since then the company has extended its midstream footprint in the Delaware using the San Mateo I and San Mateo II joint venture partnerships with Five Point Energy LLC

Inconvenient Time for Canadian Crude: US Gulf Coast Is Glutted

Canadian heavy crude, being deeply discounted for several years due to a lack of pipelines, is eventually trading like a “North American” grade, moving in tandem with U.S. sour crudes sold on the GulfCoast thanks to Enbridge’s expansion of its 3 pipeline late last year. Meanwhile, the Gulf is full of sour crude over Washington’s largest-ever release from the Strategic Petroleum Reserve (SPR) that will amount to 180 MMbbl during six months, trying to tame exorbitant fuel prices after the Russian invasion of Ukraine. The market is flooded with millions of barrels of sour crude from storage caverns in Louisiana and Texas. At the world’s biggest heavy crude refining center, U.S. Gulf Coast, heavy grades like Mars and Poseidon are languishing. According to U.S. Energy Information Administration (EIA) data, Canada exports around 4.3 MMbbl/d to the United States, whereas until last year demand to ship crude on export pipelines increased capacity, leaving barrels bottlenecked in Hardisty.

New Player In Lake Charles LNG Project: China Gas’ First Long-Term Agreement with Energy Transfer

On June 5 China Gas Hongda Energy Trading Co. Ltd. has made an LNG sale and purchase agreement (SPA) with Energy Transfer LNG Export, LLC concerning its Lake Charles LNG project. In the course of the 25-year contract, Energy Transfer LNG will provide 0.7 million tonnes per annum (mtpa) of LNG to China Gas on a free-on-board basis. The purchase price is indexed to the Henry Hub benchmark plus a fixed liquefaction charge, with first deliveries expected as early as 2026. Being a premier natural Chinese gas distribution company, China Gas enchants Energy Transfer LNG to sign the 25-year LNG offtake agreement. From the direction of ChinaGas, it will be a significant step along the way to realizing China’s carbon peaking and carbon neutrality goals as it is their first long-term agreement.

$7 Billion Merger of Colgate and Centennial, the 2 Largest Permian Operators

Despite the circulating rumors concerning Colgate’s attempt to launch an IPO, on May 19 the company decided to combine with Centennial Resource Development Inc. This merger of equals is estimated at $7 billion and will found the biggest pure-play E&P company in the Delaware Basin of the Permian. The transformative combination essentially enlarges companies’ potential and hastens the growth across all financial and operating metrics. According to Centennial CEO Sean Smith, the combined company is anticipated to furnish shareholders with quickened capital return program due to a fixed dividend coupled with a share repurchase plan. Due to a recent report, the merger would increase production 7%, to 145,000 boe/d by the fourth quarter would further ratchet up next year. By third-quarter 2023, the company predicted 160,000 boe/d based on a drilling program of 140 wells per year. Colgate Energy was reported to be getting an IPO last December that sources said would value the company at approximately $4 billion. The combined company will have over 15-years of drilling inventory, assuming its current drilling pace, the companies will produce over $1 billion of free cash flow in 2023 at current strip prices.

Get Your Energy Data Research Done

Below is our webinar review of what Rextag is. Being a division of Hart Energy, Rextag is aimed at providing data services. You should be already familiar with Hart Energy conferences and publications about oil and gas basins, etc. What we want to show are the use cases of our clients, what our product is, how it is used, what data services are there, and some of the key scenarios, that our customers shared with us. We licence the data by datasets (the ones you see on the left pane within the Energy DataLink application. Our customers can licence access to the data based on the folders (or modules) here. e.g. Upstream oil and gas, and other modules below. So if you are an operator who works on Upstream or Midstream assets or you are interested in them you would licence both the Upstream dataset and respective midstream datasets. They are delivered to the customers in different ways. If you are familiar with GIS databases or SQL you can consume the data in those forms or set up web services connection to your cloud database. If you do not need to save the raw data on your computer, you can access our web application that you now see in the video. If you are a software developer or a product developer within your organisation you can use this information via API access to embed it inside your application. Also, we licence the data for an unlimited number of users for this application.

NGLs Acquisitions TransCanada LNG Permian Basin Midstream Gathering Powder River Basin Careers in O&G Jordan Cove Power Plant Fuel Kinder Morgan Crude Oil Corpus Christi BridgeTex Magellan Pinnacle Midstream Sierra Grande Medallion Pipeline Offshore Appalachian Bakken EIA Mancos Shale GIS Midstream Delaware Gulf of Mexico Propane North-East Wholesale DCP NGL Energy Partners Eagle Ford ArcLight Capital Partners Nuevo Midstream Petroleum Production Upstream Analysis Data Webinar Permian Production Drilling Pipelines Wells Takeaway Gas Water Management Pipeline Questar Pipeline Energy Gas Plains Oryx PennEast Pipeline Chesapeake Energy Corporation Market Acquisition Of Vine Energy Inc. Exxon Mobil U.S. shale gas assets Mariner east expansion Energy transfer Pennsylvania Water management IPO ESG Acquisition Natural gas Aviation emissions SAF White House Aviation fuel Emissions Aviation Fuel Sustainability Pipeline Oil and energy M&A Merger and acquisition Pioneer Natural Resources Asset sale Upstream Acreage sale Midland DoublePoint Energy Crude oil E&P Oil output Oil market Crude oil production Forecast Growth Oil Bbl Exploration & production Penn Virginia Ranger Oil Rebranding Map of pipelines Energy maps Wells Natural gas production Comstock Resources Northern Oil and Gas Dominion Energy Berkshire Hathaway Southwest Gas Carl Icahn Rocky Mountains Uinta Greater Green River Piceance RSG Partnership LaBarge Carbon capture and storage CCS Natural gas maps Carbon footprint Onshore North Dakota Renewable energy Bioethanol Environmental Protection Agency Red Trail Energy Broom Creek Formation Geologic CO2 storage Carbon capture storage (CCS) Diamondback Energy Rattler Midstream Onshore Divestment Oil and natural gas assets Water management Produced water TC Energy Alberta Canada Carbon-free Greenhouse-gas emissions Emissions reduction Energy services GIS U.S. NG data U.S. hydrogen production Hydrogen pipeline maps Oasis Petroleum Crestwood Equity Partners Oasis Midstream Partners Petroleum infrastructure Pipeline maps Williston Basin Bakken Shale Delaware Basin Appalachian Basin Atural gas gathering Cheniere Energy Sinochem Group Cheniere Marketing Glencore U.S. LNG exports SPA LNG provider Natural gas producer Texas Gulf Coast Energy market LNG delivery GIS NG data U.S. ANR Pipelines Emission reduction Investment Energy provider CO2 reduction Midwest Electrification Asset renewal Greenhouse gas NG data Midland Basin Sempra Energy Vista Pacifico Costa Azul Louisiana Mexico Asia Europe LNG plant GIS U.S. data NG data U.S. NG pipeline maps Expansion Concho Valley Solar Targa Resources Merit SI Komipo America Ironwood Midstream EnCap Flatrock Midstream Eagle Ford Shale Assets merger Crude oil delivery Crude oil and natural gas output Midstream footprint Midstream infrastructure Natural gas gathering and processing Enbridge Line 3 project NGL Appalachia to Market and Middlesex Extension project Southern Access expansion Gas projects Natural gas pipelines Energy infrastructure Energy Transfer LP Mariner East Project Zacks Consensus NGL export Energy Assets NGL production Energy Projects Analytics Infrastructure William Companies Crowheart Energy Denver Green River Basin Wamsutter Field Assets Revenue Joint Venture Energy Infrastructure West Texas New Mexico Double E Pipeline Summit Midstream Partners Waha Hub Downstream Market Gas Flaring Gas Extraction Natural Gas Infrastructure New Fortress PHMSA Energy Transport Solutions LNG-by-rail New Jersey Transport Permit Liquefaction Plant Marcellus Shale LNG Delivery GIS U.S. NG Data Pipeline Maps BP BPX Energy MiQ Natural Gas Certification Gas Production South Haynesville Basin Methane Emissions Reduction of Greenhouse Emissions Well maps Zephyr Energy Paradox Basin Utah Hydrocarbon Reservoirs Horizontal Well Hydraulically Stimulated Resources Gas Rates Well maps Colgate Energy Pearl Energy Investments NGP Credit Suisse Group Shale Oil Producer Stock Market Energy Prices Warburg Pincus Enterprise Products Partners Navitas Midstream NGL logistics Natural Gas Natural Gas Liquids Infrastructure Acquisition Forecast Haynesville Basin LNG Demand Power Generation Coal Production Forecast Continental Resources Dividends Oil Prices Natural Gas Production Shale Evolution Petroleum Exaro Energy III Jonah Field Natural Gas Assets Non-Operated Assets Natural Gas Equivalent Energy Transfer Gulf Run Pipeline map Shale Field Lime Rock Resources Abraxas Petroleum Oil and Gas Properties Oil Equivalent BOED A&D sector GIS U.S. Devon Energy Anadarko Basin Midcontinent Powder River Williston Net-zero Production Emissions NGO Carbon Capture Sequestration Greenhouse Gas Emissions Ethanol Conversion Petro-Hunt Admiral Permian Resources Oil and Gas Production Leasehold Properties Assets Acquisition Pine Wave Energy Partners Silver Hill Energy Partners III Midstream NG gathering pipelines Haynesville Natural Gas Gathering Shale Gas Operated Wells NG Pipeline Maps Quantum Energy Partners Williams Trace Midstream LEG project Clean Energy Natural Gas Products Equity Investments NG gathering pipeline systems Endeavor Gathering Gemini Carthage Ameredev II EnCap Investments Buyout Firms Crude Prices Ukraine Assets Value Shale Industry Colgate Energy Partners III War Oil Sanctions Enbridge Inc Southern Lights Pipeline Mainline Pipeline System Liquids and Natural Gas Pipelines Export Import LNG Terminals Energy Crisis Hydrogen Bakken Formation Debt Restructuration Shares Assets Sale Oil companies Natural Gas Prices Crescent Energy EP Energy Uinta Basin Shale Formation Merge Antitrust Monopoly Leucrotta Exploration Vermilion Energy Equinor Energy Ireland Drilling Inventory Hydrocarbon Exploration Gas Holdings Mica Montney Shale NLG Renewable Energy Group Chevron Alternative Fuels Climate Change Global Emissions Biodiesel Renewable Diesel Carbon Footprints Decarbonized Fuel Great Western Petroleum PDC Energy Colorado D-J Basin Shareholder Returns Energy Production Flowing Gas Net Acres Pembina KKR Newco Western Canadian Sedimentary Basin Gas Processing Plants Gathering and Transportation Network Transportation Infrastructure Whiting Petroleum Merger Bakken shale Bankruptcy Strategic Resources Montana Acreage maps Carbon capture and storage Oxy Enterprise Subsurface characterization Subsurface CO2 sequestration U.S. energy maps U.S. Gulf Coast Oil and gas production Humble Midstream EIEC Drilling activity Baker Hughes Oil and Gas rigs O&G production forecasting Oil prices Gas prices Drilling permits Permian Basin 2022 O&G output records PAM Energy Research Centennial Resource Development Energy M&As Permian acreage sale China Gas Holding LTD. Lake Charles Project Liquefied natural gas Gas Western Canada Select WCS O&G Energy Information Administration Sour crude Strategic Petroleum Reserve Gathering and Processing G&P Matador San Mateo Summit’s Lane System Oil BP Plc Sunrise Oil Sands Cenovus Bay du Nord Newfoundland Labrador Orphan Basin ESG performance ESG score Flaring gas Renewable energy sources Wind energy Green energy Lucid Energy Group Riverstone Goldman Sachs Oil and Gas Southcross Energy South Carlsbad Natural Gas Gathering System Artesia Natural Gas Gathering and Processing System