Page 10 - NorthAmOil Week 02 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM Oil Recovery (EOR) waterfloods. The updated quick evaluations and hassle-free closings on
five-year plan, inclusive of the acquisition, varying acquisition sizes ranging from just a
Tamarack Valley Energy generates robust free funds flow of greater few acres to thousands of acres,” continued
Graham. “No matter what the deal size is, we
than CAD1.1bn dollars at $55per barrel WTI
announces 2022 corporate and greater than CAD2.1bn at $70 per barrel have the tech and expertise to accommodate
tight deadlines.”
WTI.” – Brian Schmidt, president and chief
budget, updated five-year executive officer. independent production and exploration
Houston, TX based Marathon Oil is an
TAMARACK VALLEY ENERGY, January 13, 2022
plan and return of capital Rising Phoenix Royalties company that focuses on the United States’
most competitive resource plays. Their multi-
framework and declaration announces Eagle Ford Basin basin portfolio includes the Eagle Ford in
Texas, SCOOP and STACK in Oklahoma,
of inaugural dividend the Permian in New Mexico, and the Bakken
in North Dakota with a production mix of
Tamarack Valley Energy announces that oil and natural gas royalty approximately 50% oil and 50% gas/NGL.
the board of directors has approved a 2022 acquisition The RPR royalty acquisition process
capital budget, pro forma the acquisition of includes a reservoir analysis by a third-party
Crestwynd Exploration, of CAD250-270mn, Rising Phoenix Royalties (RPR) reveals a 90% geological engineering firm with expertise in
designed to achieve significant free funds flow, oil/10% natural gas royalty acquisition of 121 all US basins. The third-party report provides
and generate annual production of 45,000- net royalty acres from an undisclosed seller in royalty owners transparency in knowing the
46,000 boepd, enabling return of capital the Eagle Ford Basin, Karnes County, TX. valuation data used for the purchase offer.
optionality and maintaining a strong balance “For the Karnes County acquisition, we Circumstances that cause RPR clients
sheet. were fortunate to work with a client with to divest their royalty assets include estate
“We are excited to roll out a strong 2022 whom we had previously purchased oil and planning, funding retirement, optimising
plan with a continued focus of building on gas royalties,” noted Jace Graham, RPR CEO tax benefits, immediate financial need,
and delivering sustainable free funds flow. Our and Founder. “Our client appreciated the estate liquidation, and investment portfolio
programme is designed to provide an optimal trusted business relationship established from diversification.
balance of investment across our asset base the prior sale, the transaction transparency, RISING PHOENIX ROYALTIES, January 13, 2022
with the growth driven by the Clearwater, free and our typical quick closing time.”
funds flow maximisation in the Charlie Lake, “Many royalty owners choose to sell to
and decline mitigation through the Enhanced Rising Phoenix because we’re known for our MIDSTREAM
Harvest Midstream signs

PSA to acquire Arrowhead

ST Holdings

Today, Harvest Midstream announced the
signing of a purchase and sale agreement
(PSA) to acquire the remaining interest in
Arrowhead ST Holdings (ASTH) from its
joint venture partner. Harvest is already the
operator of ASTH and a 25% owner of the
joint venture. ASTH, a fully integrated Eagle
Ford midstream business, spans the most
active areas of the Eagle Ford. The system
delivers to numerous crude export docks
and into Flint Hills Corpus Christi and
Valero Three Rivers refineries. This is part of
Harvest’s ongoing efforts to expand its suite of
crude oil transportation and logistics services
for upstream and downstream customers.
“This is another example of our continued
commitment to South Texas and the Gulf
Coast. When we close this transaction, we will
own 100% of these assets that we have safely
and reliably operated for over a decade,” said
Jason Rebrook, CEO of Harvest Midstream.
“This is an exciting opportunity for Harvest
to continue to grow and provide first-in-class
service. We believe strongly in the outlook for

P10 www. NEWSBASE .com Week 02 13•January•2022