Page 11 - NorthAmOil Week 03 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM They have the financial strength we need and MIDSTREAM
understand midstream better than anyone in
Clearfork Midstream to the venture capital business. They aligned with Texas LNG, a Glenfarne
us on the acquisition of Azure Midstream and
acquire Azure Midstream Azure’s growth potential. We are very pleased Group company, and
to be part of the EFM family of companies.”
Energy, secures initial characteristics including strong leadership; Enbridge execute natural
“The management team possesses certain
capital commitment from the ability to attract and retain talent; a strong gas pipeline transportation
reputation and track record; and a compelling
EnCap Flatrock Midstream business plan, all of which we highly prioritise agreement
when backing a team,” said EFM Managing
Clearfork Midstream today announced it has Director Zach Kayem, a member of the Texas LNG Brownsville, a controlled
secured a capital commitment from EnCap Clearfork board of directors. “We have known subsidiary of Glenfarne Group, developing a
Flatrock Midstream (EFM) and has entered members of management for better than half fourmn tonnes per annum liquefied natural
into a definitive agreement to purchase of a decade and are excited to pursue this gas (LNG) export terminal in the Port of
Azure Midstream Energy. The transaction is significant midstream opportunity in East Brownsville, South Texas, and Enbridge, a
subject to standard regulatory approvals and Texas and North Louisiana.” leading North American energy infrastructure
is expected to close during the first quarter CLEARFORK MIDSTREAM, January 18, 2022 company, have executed a pipeline
of 2022. Based in Fort Worth, Clearfork is a transportation precedent agreement for the
growth-oriented midstream company that Split Rock Resources expansion of the Valley Crossing Pipeline
was formed in 2020 to provide comprehensive (VCP) to deliver approximately 720mn cubic
midstream solutions for oil and gas producers announces Permian Basin feet per day of natural gas to Texas LNG’s
in basins across North America, with a export facility for a term of at least 20 years.
specific emphasis on unconventional natural expansion VCP consists of a 160-mile 42- and 48-
gas production in the Haynesville/Bossier inch diameter pipeline originating at Agua
Shale formation in North Louisiana and East Split Rock Resources an affiliate of North Dulce, a major Texas gas hub, and extending
Texas. Hudson Resource Partners, announced that it to the Port of Brownsville. A 10-mile lateral
Clearfork is led by chief executive officer has acquired non-operated Permian Basin oil will be built to extend the pipeline to Texas
Kipper Overstreet and a team of industry and gas assets from a private seller for a cash LNG’s facility, along with the addition of
veterans including chief operating officer purchase price of $97.5mn. The acquisition compression facilities on the existing pipeline.
George Grau Jr., chief commercial officer primarily consists of core non-operated assets VCP’s pipeline header at Agua Dulce, a
Corey Lothamer and executive vice president located in the Delaware Basin in Eddy and growing gas pricing and transportation hub
Kevin Venturini. Together, they have more Lea counties, New Mexico as well as in the in South Texas, interconnects with ten major
than 75 years of collective experience in the Midland Basin in Glasscock County, Texas. gas pipeline systems providing access to
energy industry. Prior to forming Clearfork, The Assets are currently producing abundant and competitively priced gas from
Mr. Overstreet served from 2013 to 2020 in approximately 2,000 boe per day (75% liquids, the Permian and other major gas basins with
roles of increasing responsibility at Azure three-stream basis) and include approximately a total receipt capacity of more than sevenbn
Midstream, most recently as vice president of 1,000 net acres with substantial drilling cubic feet per day. The compression facilities
corporate development and gas supply from inventory targeting the Wolfcamp, Bone at Agua Dulce will use electric motors which
2017 to 2020. Spring and additional formations. The Assets can be powered by plentiful Texas renewable
“Over the past few years, we have are operated by a diverse group of top-tier energy, thus reducing CO2 emissions.
developed strong relationships with key companies and 2022 development activities “Enbridge has been a tremendous
members of the EFM team,” Clearfork are expected to increase daily production rates supporter of Texas LNG from the project’s
CEO Kipper Overstreet said. “The firm’s to over 4,000 boe per day. inception. We are pleased that we can leverage
unparalleled reputation is well deserved. SPLIT ROCK RESOURCES, January 18, 2022 Enbridge’s leading natural gas pipeline
expertise to safely transport responsible
natural gas to our ‘green by design’ LNG
facility,” said Vivek Chandra, Founder and
CEO of Texas LNG LLC.
Langtry Meyer, founder and COO of
Texas LNG LLC commented: “Our pipeline
transportation agreement with Enbridge
enables Texas LNG to deliver abundant,
diverse, reliable, low-cost natural gas supply to
our LNG customers around the world.”
“Enbridge is committed to the
development and advancement of the Valley
Crossing Pipeline as it serves Texas LNG and
helps the facility meet global LNG demand,”
said Bill Yardley, Enbridge’s executive vice
president and president, gas transmission and

Week 03 20•January•2022 www. NEWSBASE .com P11