Page 11 - NorthAmOil Week 49 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

Advantage announces 2022 connections to major crude oil off-take
UPSTREAM facilities, shell storage capacity, and multiple
Whitecap Resources budget, including strategic pipelines.
“The Echo Canyon acquisition continues
announces consolidating growth of liquids, gas and our vision to grow MVP’s footprint in Texas
and become the preferred midstream and
acquisitions and midstream assets marketing partner for oil and gas producers
throughout the US,” said MVP president Gary
repurchases 19.2mn Advantage Energy is pleased to announce its Navarro.
2022 budget.
MVP HOLDINGS, December 03, 2021
common shares will be focused on growing adjusted funds
Advantage’s 2022 capital programme
Whitecap Resources is pleased to announce flow per share by continuing to drill high DOWNSTREAM
three separate transactions that will rate-of-return targets in areas with existing
consolidate core assets within its Central infrastructure capacity. An escalating WEB and Eagle LNG enter
Alberta, Eastern Saskatchewan and Western emphasis will be placed on increasing
Saskatchewan business units. The acquisitions liquids revenue and making infrastructure into landmark clean LNG
will increase 2022 discretionary funds flow investments that either expand third-party
after capital and dividends by CAD80mn processing revenue or advance our net- supply agreement
or 10% per share at $65per barrel WTI and zero 2025 target. With gas prices currently
CAD3.50/GJ AECO by adding approximately elevated and robust oil prices, we expect bank Eagle LNG Partners, a US company based
9,000 boepd (67% liquids) to our average indebtedness to fall to zero in the second in Houston, Texas and Jacksonville, Florida,
production in 2022 and further improving half of 2022 with significant free cash flow has completed a long-term supply contract
our long-term sustainability by adding 345 available to fortify the foundations of our to establish a liquefied natural gas (LNG)
(257.5 net) top tier drilling locations. The business. receiving and regasification terminal in Aruba
combined purchase price of the acquisitions ADVANTAGE ENERGY, December 06, 2021 with WEB Aruba, the local power and water
is CAD342.5mn, consisting of approximately utility. The project confirms Aruba’s growing
15.2mn Whitecap shares at a weighted importance as a regional hub and creates
average price of CAD 7.20 per share and MIDSTREAM new economic pillars. Today, the deal was
approximately CAD 240mn of cash. confirmed in a signing ceremony attended
Whitecap is also pleased to continue to MVP expands pipeline by the Minister of Labour, Energy and
advance our return of capital strategy with the Integration Glenbert Croes and WEB Aruba
repurchase of 19.2mn shares at a price of CAD holdings into Midland Basin AI. CEO, Serapio (Laty) Wever.
6.95 per share for total value of CAD 133.7mn The Aruba LNG Terminal will serve as
returned to shareholders. The repurchase was MVP Holdings acquired Echo Canyon WEB’s LNG receiving and regasification
executed by way of a block trade under our Pipeline Holdings and its subsidiaries today terminal for its Balashi power plant. The
normal course issuer bid (NCIB). We now to substantially expand its crude business in Terminal will be located at Refineria di
have 7.1mn shares remaining on our current the highly-active southern Midland Basin of Aruba, an existing industrial location, in
NCIB and intend to renew the NCIB for West Texas. San Nicolas, Aruba, where LNG from Eagle
another year when it expires on May 20, 2022. Echo operates 190 miles of crude gathering LNG, will be received, stored and re-gasified
WHITECAP RESOURCES, December 06, 2021 pipeline located in the Upton, Reagan, with natural gas delivered to the WEB power
Glasscock, Irion and Crocket Counties of plant. Using LNG for power generation takes
Texas. It also owns additional truck unloading advantage of WEB’s existing investment in
dual-fuel engines improving environmental
performance and stabilising fuel rates at
historically low prices, while enabling the
introduction of more intermittent renewable
electricity generation on the island.
“LNG fits in WEB Aruba’s vision of cleaner,
greener and fuel oil free production and
we are working towards sustainable water
desalination and energy production and
supply. We welcome LNG as a transition fuel
that eventually should lead to a mix of 50%
renewable energy sources and 50% alternative
fuels,” said WEB Aruba AI. CEO, Serapio
(Laty) Wever.
The infrastructure investment is
approximately $100mn in Aruba and will
create up to 100 local jobs during construction
as well as highly-skilled operating jobs with
specialised training in critical capabilities

Week 49 09•December•2021 www. NEWSBASE .com P11