Page 13 - NorthAmOil Week 33 2021

NorthAmOil
NEWS IN BRIEF
NorthAmOil
Surge Energy America announces bolt-on acquisition in Howard County
Moss Creek Resources Holdings, a wholly owned subsidiary of Surge Energy US Holdings, has acquired leasehold interest and wells from Apache in Howard County, TX. The aggregate purchase price of the transaction at closing was $37.5mn. SURGE ENERGY US HOLDINGS, August 12, 2021
Diversified Energy Company
announces completion of
Tanos acquisition
Diversified Energy Company is pleased to announce that it has completed its co- investment with funds managed by Oaktree Capital Management to acquire certain Cotton Valley and Haynesville upstream assets and related facilities in the states of Louisiana and Texas from Tanos Energy Holdings III as previously announced on July 5, 2021. DIVERSIFIED ENERGY COMPANY, August 18, 2021
MIDSTREAM
Select Energy Services
enters into “stalking horse”
asset purchase agreement
to acquire Agua Libre
Midstream and other water
related assets from Basic
Energy Services
Select Energy Services, a leading provider of sustainable water and chemical solutions to the US unconventional oil and gas industry, today announced that it has entered into an asset purchase agreement for the acquisition of substantially all of the assets of Agua Libre Midstream and other water-related assets, operations and assumed liabilities from Basic Energy Services.
The asset purchase agreement constitutes a “stalking horse” bid in a sale process being
conducted under Section 363 of Chapter
11 of theUS Bankruptcy Code. As such, the company’s acquisition of Agua Libre remains subject to approval by the United States Bankruptcy Court for the Southern District
of Texas Houston Division, and is subject to court-approved bidding procedures, including the potential receipt of competing offers for Agua Libre and certain other of Basic’s assets and operations at auction. It is expected that the sale process will be completed during
the second half of 2021 and the business is expected to remain operational throughout the process.
Based in Fort Worth, TX, Agua Libre is a leading provider of water midstream, logistics and production services to the oil and gas industry, including operations in Texas, New Mexico, Oklahoma, Louisiana and North Dakota. If consummated, the Agua Libre acquisition would significantly expand Select’s produced water infrastructure footprint and water reuse capabilities, particularly across the Permian Basin, and further increase
the company’s revenue weighting towards production-related services and solutions. SELECT ENERGY SERVICES, August 17, 2021
DOWNSTREAM
Calumet Montana Refining
and Governor Gianforte to
cut ribbon on first delivery
of renewable feedstock
Calumet Specialty Products Partners, announces that the partnership and the Honorable Governor Greg Gianforte are holding a formal ribbon cutting ceremony today at the plant. This event will celebrate the delivery of the first seed oil feedstock to be used in the production of renewable diesel fuel.
This event highlights an in-progress energy transition project at the facility. Montana Renewables is a fast-paced project in which part of the existing plant is being converted to produce renewable fuel. The project is significant for the local community and the State of Montana, with an end goal of integrating farm and ranch operations within Montana for the processing of other renewable feedstocks. The conversion will
be complete and operations will begin in the second quarter of 2022.
CALUMET SPECIALTY PRODUCTS PARTNERS, August 19, 2021
Union Pacific and Progress
Rail partner to reduce
greenhouse gas emissions
Union Pacific locomotives will be getting
a boost of biodiesel fuel. Progress Rail, a Caterpillar company, approved the use of
up to 20% biodiesel blend in specific EMD locomotive series operated by the railroad. Previously, the locomotives were approved to operate at 5%.
“Union Pacific is dedicated to reducing
its carbon footprint, and this is another step toward achieving our long-term goal to reduce absolute scope 1 and 2 greenhouse gas (GHG) emissions 26% by 2030,” said Union Pacific executive vice president and chief human resource officer Beth Whited, who oversees the railroad’s environmental, social and governance-related efforts. “We continue to identify opportunities to increase low carbon fuel usage in our locomotives and appreciate Progress Rail’s partnership in our efforts.”
The updated fuel recommendation comes after testing high-horsepower locomotives, used for hauling freight long distances, and monitoring performance for things such
as fuel consumption, as well as impact on engine oil and fuel filters. Progress Rail is currently undergoing additional testing and development.
“At Progress Rail, we are committed to offering sustainable solutions by providing products that facilitate fuel transition, increase operational efficiency, and reduce emissions,” commented Marty Haycraft, president and CEO of Progress Rail. “Through continually investing in new products, technologies,
and services, we offer a wide range of fuel flexibility, making a meaningful, positive impact on the environment and supporting our customers in achieving their GHG reduction goals.”
Union Pacific and Progress Rail’s efforts can also help our partners reduce their own environmental footprint. Moving freight by rail instead of truck reduces GHG emissions by up to 75%, and one train can carry the freight of hundreds of trucks, reducing congestion on the nation’s already gridlocked highways.
UNION PACIFIC AND PROGRESS RAIL, August 19, 2021
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