Page 11 - NorthAmOil Week 33

NorthAmOil
NEWS IN BRIEF
NorthAmOil
UPSTREAM
New Dawn Energy and
Mineral Resources Partners
announce exploration
agreement in South
Louisiana
Privately owned oil and gas exploration, and mineral companies New Dawn Energy and Mineral Resources Partners today announced an agreement to jointly explore and develop certain assets contributed by each company in south Louisiana, targeting unconventional and conventional reservoirs.
e development area initially includes ~ 90,000 net mineral acres out of the ~120,000 net mineral acres owned by the companies and additional leased minerals located in Calcasieu and Beauregard Parishes. e companies’ exploration teams have already developed projects within the initial AMI. e parties expect initial development under the agreement to begin during the fourth quarter of 2019.
Dr. Ghasem Bayat, chief executive o cer of New Dawn Energy said: “New Dawn is excited to be partnering with MRP a fellow mineral owner, exploration company, and experienced operator. We believe the strategic combination of our respective acreage positions and cooperative interpretation
by our geoscience sta s creates an enviable alliance. We expect this agreement to create signi cant value for both parties and look forward to working with MRP.”
David V. De Marco, director of business development for Mineral Resources Partners said: “We are delighted to enter into a collaborative relationship with Dr. Bayat and
New Dawn. e companies’ close alliance and experienced exploration and production teams have already developed more than 15 projects within the initial AMI, which will
be displayed at the upcoming NAPE. e companies’ signi cant mineral ownership
in Louisiana, including 120,000 NMA in the Austin Chalk trend surrounding Masters Creek in Vernon and Allen Parishes, gives us mutual long term goals. We are honored to work with the experienced and results driven team at New Dawn.”
NEW DAWN ENERGY AND MINERAL RESOURCES PARTNERS, August 19, 2019
MIDSTREAM
EPIC Y-Grade announces execution of strategic long- term ethane and ethylene transportation agreements with Gulf Coast Growth Ventures
EPIC Y-Grade Holdings today announced that a liates, EPIC Y-Grade Pipeline and EPIC Ole ns, will construct over 130 miles of 12” ethane and ethylene pipeline to support the steam cracker being built by Gulf Coast Growth Ventures (GCGV) in San Patricio County. Both pipelines are expected to be completed by the third quarter of 2020.
e transportation agreements between EPIC and GCGV are multiyear and
are underpinned by minimum volume commitments.
“We are extremely proud to be a key supplier and service provider to Gulf Coast
Growth Ventures as they construct a world class ethane cracker in the lower Gulf Coast,” said Phillip Mezey, chief executive o cer
of EPIC. “ ese strategic infrastructure investments by both of our companies will continue to drive future investment in the greater Corpus Christi area.”
EPIC Y-GRADE HOLDINGS, August 15, 2019
Elevate Midstream Partners announces eight-year gas gathering and treating agreement with Sabine Oil and Gas
Elevate Midstream Partners, a full-service midstream company headquartered in Houston, Texas, today announced that it has entered into an eight-year gas gathering and treating agreement with Sabine Oil and Gas, a major Haynesville producer in Harrison and Panola Counties, Texas. e transaction was completed in partnership with Elevate’s nancial sponsor, Tailwater Capital, an energy-focused private equity rm based in Dallas.
Elevate will build approximately 19
miles of 16-inch gas gathering pipelines
plus associated laterals, including amine, dehydration and compression facilities in
the Carthage area with interconnections to downstream takeaway markets. e system adds to Elevate’s existing asset base in the
area and is designed to support both this agreement and aid other producers in moving gas to more attractive markets at the Carthage hub.
“We are pleased to announce the execution of this agreement with Sabine and commencement of this project,” said Roger Fox, chief executive o cer of Elevate. “With our existing assets strategically located in the core of the Haynesville and Cotton Valley formations, this new pipeline will both expand our footprint and provide access to the competitive Carthage hub markets for our customers. We are delighted that Sabine, our anchor customer, has entrusted us to build our pipeline and continue to service their ambitious needs. We will be looking
to similarly assist other customers in the region to connect, via our pipeline, to more favourable markets that ultimately will access the increasing Gulf Coast demand.”
ELEVATE MIDSTREAM PARTNERS, August 19, 2019
Week 33 20•August•2019
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