Page 17 - NorthAmOil Week 43 2020

NorthAmOil NEWS IN BRIEF NorthAmOil

POLICY energy from source to end use as the result. under EQT and Ascent Resources respectively.
Through this investment, CRIN aims to Each acquisition was purchased from private
Government of Canada reduce the sector’s greenhouse gas emissions sellers and closed over the past two weeks.
This marks the second acquisition in Ohio
by 100 megatons by 2033. This is the
invests in clean technology equivalent of taking 1.5mn cars off the road. and the tenth acquisition in Pennsylvania this
year for the Texas-based buyers.
In addition, by supporting co-op positions
ecosystems for post-secondary students, work-integrated halting activity in light of the recent market
Despite many other mineral buying firms
learning and skills retraining, CRIN will help
Canada’s oil and gas sector is an important develop the oil and gas sector’s highly skilled turmoil, Peregrine continues their steadfast
part of Canada’s economy, and workers in workforce of the future. efforts of working alongside royalty owners
the sector have been significantly affected This project supports the Government nationwide providing answers for clients
by the impacts of the COVID-19 pandemic. of Canada’s Innovation and Skills Plan by looking for quick and simple divestment
By working together with the sector, the building a highly skilled workforce and options.
government can help it rebound, create advancing research in new foundational “We’ve really enjoyed working with local
good jobs for workers and reduce its carbon technology – a key component for future mineral buyers, landmen and geologists who
footprint. economic growth and innovation. It also have helped connect our team to royalty
The Honourable Navdeep Bains, Minister supports the government’s plan to reach net owners in their backyard who are looking for
of Innovation, Science and Industry, joined zero emissions by 2050. relief,” said Josh Prier, Managing Director of
by the Honourable Seamus O’Regan, Minister INNOVATION, SCIENCE AND ECONOMIC Peregrine. Prier noted that many industry
of Natural Resources, and the Honourable DEVELOPMENT CANADA, October 22, 2020 professionals are finding themselves with time
Jonathan Wilkinson, Minister of Environment on their hands due to the market slowdown
and Climate Change, today announced an and working with Peregrine provides them an
investment of CAD100mn over four years, UPSTREAM opportunity to add value not only for royalty
provided through the Strategic Innovation owners in the area they may know, but for
Fund (SIF), to help the oil and gas sector grow, Peregrine announces their families as well.
create jobs and greatly reduce its greenhouse Peregrine focuses exclusively on producing
gas emissions. additional acquisitions in oil and gas royalties and works directly
The investment will help the Clean with mineral owners as well as local land
Resource Innovation Network (CRIN) the Marcellus shale professionals in multiple basins across the
accelerate the development and adoption country. The company’s proven track record
of innovative technologies and processes Peregrine Energy Partners is pleased to has allowed many sellers to fast-forward
that seek to lower the oil and gas industry’s announce additional closings of producing decades of income and avoid long-term tax
environmental impacts. By developing royalty properties in multiple counties across liabilities.
groundbreaking clean tech and emission- the Marcellus shale. PEREGRINE ENERGY PARTNERS, October 27,
lowering solutions through collaboration, The most recent acquisitions, located in 2020
CRIN will support economic growth and Greene County, PA and Guernsey County,
create good, well-paying jobs, with cleaner Ohio, each contain multiple producing wells
MIDSTREAM

Adams Resources & Energy
completes acquisition of

VEX Pipeline and related

pipeline terminal facilities

Adams Resources & Energy today announced
that GulfMark Energy, Adams’ crude oil
marketing subsidiary, and its wholly owned
subsidiary, GulfMark Terminals has acquired
the outstanding equity interests of Victoria
Express Pipeline (VEX) and certain related
pipeline terminal facility assets from EnLink
Midstream Operating.
The VEX Pipeline System, with truck
and storage terminals at both Cuero and the
Port of Victoria, Texas, is a crude oil and
condensate pipeline system, which connects
the heart of the Eagle Ford Basin to the Gulf
Coast waterborne market. The VEX Pipeline
System includes 56 miles of 12-inch pipeline,

Week 43 29•October•2020 www. NEWSBASE .com P17