Page 14 - NorthAmOil Week 20 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

us to meet or exceed our own company direct connection to the 3.2 bcf per day Agua MOVES
targets and give the flexibility and capacity Blanca Pipeline, a joint venture between
to offer services to other operators and States WhiteWater and MPLX. Superior Drilling Products
Governments looking to retire orphan wells. “WhiteWater is excited to partner with
This acquisition is a win-win for Diversified, EnLink, Devon, and MPLX to develop regains compliance with
its stakeholders, the environment and incremental gas transportation out of the
communities in the states in need of increased Permian Basin as production continues to NYSE American continued
retirement activities.” grow in West Texas,” said Christer Rundlof,
With the addition of NWP’s two retirement CEO of WhiteWater. “Matterhorn will listing standards
crews, Diversified has eight total internal provide premium market access with superior
crews and expects to add a 9th crew by the flexibility for Permian Basin shippers while Superior Drilling Products, a designer and
end of the second quarter. With its investment playing a critical role in minimizing flared manufacturer of drilling tool technologies,
in NWP, Diversified is well-positioned volumes.” announced today that it has received
to meet or exceed its stated commitment The Matterhorn Express Pipeline is notification from the NYSE American that
to retire at least 200 of its wells per year expected to be in service in the third quarter the company has regained compliance with
across Appalachia by 2023 and to offer its of 2024, pending the receipt of customary the continued listing standard of Sections
plugging services to other operators and state regulatory and other approvals. 1003(a)(ii) and (iii) of the NYSE American
governments. WHITEWATER, ENLINK MIDSTREAM, DEVON Company Guide. At March 31, 2022, SDP had
DIVERSIFIED ENERGY, May 16, 2022 ENERGY AND MPLX, May 19, 2022 shareholders’ equity of $6.5mn, surpassing
the $6.0mn requirement to meet the listing
standard.
MIDSTREAM SERVICES Troy Meier, chairman and CEO
commented: “We made excellent progress
Matterhorn Express Pipeline Helix Energy Solutions to this past year as evidenced by our strong
growth and, importantly, the significant
reaches final investment acquire Alliance companies operating leverage inherent in our business
that delivered earnings and improving book
decision in Gulf of Mexico value. These are exciting times for Superior
Drilling. The demand for our capabilities in
WhiteWater, EnLink Midstream, Devon Helix Energy Solutions Group announced the manufacture and refurbishment of drilling
Energy and MPLX have reached a final today that it has entered into a definitive tools continues to expand as our productivity
investment decision to move forward with agreement to acquire 100% of the equity and quality provides greater benefits to our
the construction of the Matterhorn Express interests of the Alliance group of companies customers and replaces their need to add
Pipeline after having secured sufficient firm for $120mn cash at closing, plus the potential capacity. Importantly as well, our branded
transportation agreements with shippers. for post-closing earnout consideration. drilling tools are garnering greater attention in
The Matterhorn Express Pipeline has Alliance is a Louisiana-based privately held the marketplace as we capture greater share on
been designed to transport up to 2.5 billion company that provides services in support drilling rigs.”
cubic feet per day of natural gas through of the upstream and midstream industries in As of May 19, 2022, the below compliance
approximately 490 miles of 42-inch pipeline the Gulf of Mexico shelf, including offshore (BC) indicator will no longer be disseminated
from Waha, Texas, to the Katy area near oil field decommissioning and reclamation, and the company was removed from the list of
Houston, Texas. Supply for the Matterhorn project management, engineered solutions, NYSE American noncompliant issuers on the
Express Pipeline will be sourced from multiple intervention, maintenance, repair, heavy lift NYSE American’s website.
upstream connections in the Permian Basin, and commercial diving services. SUPERIOR DRILLING PRODUCTS, May 19,
including direct connections to processing HELIX ENERGY SOLUTIONS GROUP, May 18, 2022
facilities in the Midland Basin through an 2022
approximately 75-mile lateral, as well as a

P14 www. NEWSBASE .com Week 20 19•May•2022