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Drillinginfo & Rextag Join Forces For New Midstream Business Product02/04/2019
Drillinginfo has announced a new strategic collaboration with Hart Energy’s Rextag unit to create a combined midstream business product.
Oil and gas industry analysis requires mapping in order to work and E&P focus on subsurface mapping, the midstream sector requires extensive analysis of surface mapping for supply logistics, such as processing locations, pipelines, facilities, storage, refineries, rail, well locations, renewable energy infrastructure and electrical transmission.
The Drillinginfo-Rextag integration provides a cutting-edge solution with all relevant datasets in one platform, which provides powerful context and unprecedented infrastructure siting and mapping.
“Bringing Drillinginfo and Rextag together combines two best-in-class services for an unparalleled view of midstream acivity. The moment you insert Rextag data into Drillinginfo’s platform, it has a new and valuable context,” said Tanya Andrien, Senior Vice President of Strategic Development for Drillinginfo.
“Maps and timing matter in this business and Rextag has earned a stellar reputation for delivering to the oil and gas industry what they need, and when they need it,” added Bernadette Johnson, Vice President of Market Intelligence for Drillinginfo. “With Rextag’s GIS datasets inside Drillinginfo’s platform, we’re able to serve more interests than if we operated individually in silos. We’re partnering with the best to offer the best,” said Johnson.
Drillinginfo operates a software as a service (SaaS) platform to deliver business-critical insights to oil and gas industries. It offers sophisticated technology, powerful analytics, and industry-leading data. Drillinginfo is a portfolio company of Genstar Capital and serves over 5,000 companies globally from its Austin, Texas, headquarters and has more than 1,000 employees. More information at drillinginfo.com
About Rextag And Hart Energy
Rextag has been one of the largest providers of mapping data services since its founding. In 2010, Rextag joined Hart Energy, one of the energy industry’s largest information providers. More information on Rextag at rextag.com.
For more than 40 years, Hart Energy editors and experts have delivered market-leading insights to investors and energy industry professionals. The Houston-based company produces award-winning monthly magazines (such as Oil and Gas Investor and E&Pmagazine); online news and data services; in-depth industry conferences (like the DUG conference series); Rextag's GIS data sets and mapping solutions; and a range of research and consulting services through Stratas Advisors. More information at hartenergy.com.
Drillinginfo stated on Jan. 29 it formed a new strategic collaboration with Hart Energy’s Rextag unit for the purpose of creating a combined midstream business product.
The crux of the matter is rather simple: productivity gains of local energy operators have been stable not only because they are drilling better acreage, but also because players finally realized capital efficiency gains. And even if some new obstacles impede Appalachia's growth at the same rate as the Permian or Haynesville, it does not detract from the value of the Marcellus and Utica basins. The Appalachians will still be the top producers at a very competitive pace as long as commercial inventory exists. After all, as long as there is commercial inventory, somebody will have to drill.
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.
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.
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.