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New Drillinginfo - Hart Energy’s Rextag Partnership For Midstream Analytics Service02/08/2019
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 Drillinginfo-Rextag integration provides a cutting-edge solution to analytical mapping for the midstream sector with all relevant datasets in one platform, which provides powerful context and unprecedented infrastructure siting and mapping.
Dubbed Drillinginfo Midstream Infrastructure, the new combined service is now available to current users or new customers and is uniquely positioned to address questions such as:
- Which gatherers operate in the vicinity and may be able to pick up my production?
- Are there buyers for the production from my wildcat well?
- Which potential acquisition candidate merits premium pricing because they are next to existing, available takeaway infrastructure?
- Where might unforeseen pipeline bottlenecks occur?
- Knowing the true takeaway capacity, how do I gauge the impact of supply adds/misses and changes in pricing?
- How will increased oil pipeline capacity (or rail) affect the discount crude price?
Rey Tagle, Hart Energy’s senior vice president for data services and founder of Rextag, said in a statement: “We are excited to partner with Drillinginfo and are confident the new DrillingInfo Midstream Infrastructure service will become an essential tool. This new integration provides unique value by combining data from the two leading upstream and midstream providers in one platform.”
Drillinginfo delivers business-critical insights to the energy, power, and commodities markets. Its state-of-the-art SaaS platform offers sophisticated technology, powerful analytics, and industry-leading data. Founded in 1999, Drillinginfo has quickly emerged as the unquestioned leader in oil and gas exploration information services.
Rextag is a part of Hart Energy, one of the energy industry's largest information providers.
Rextag maintains one of the biggest energy database and serves it as GIS (Geographic Information System) data, web-based Geoweb portal and printed maps.
Drillinginfo has announced a new strategic collaboration with Hart Energy’s Rextag unit to create a combined midstream business product. 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.
As promised, the latest Rextag GIS Data Update has been released. Here are some of the highlights and some examples of what you will find in the overhauled first update of 2019.
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.