Page 16 - NorthAmOil Week 36

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM MIDSTREAM Pin Oak Midstream’s Appalachian Basin
position consists of nearly 1,200 miles
Rising Phoenix Royalties Pin Oak Midstream of pipeline assets; 13 interstate pipeline
interconnections; gathering, processing and
announces another acquires assets from Laurel transportation dedications on more than
150,000 dedicated net deep acres (Marcellus
Marcellus shale natural gas Mountain Midstream in NW and Utica) and current flowing volumes more
than 15 MMcf/d.
mineral acquisition Pennsylvania PIN OAK MIDSTREAM, September 09, 2020

Rising Phoenix Royalties (RPR) announces Pin Oak Midstream, a wholly owned Black Bear Transmission
a 100% natural gas mineral acquisition in subsidiary of Pin Oak Energy Partners,
the Marcellus Shale, Washington County, PA announces the closing of a transaction with closes bolt-on acquisition
from a private seller. This acquisition is RPR’s Laurel Mountain Midstream, a joint venture
second Appalachian Basin transaction in between Williams Laurel Mountain and of natural gas transmission
2020. Chevron Northeast Upstream, to acquire
CNX Resources Corporation is the well LMM’s Jackson Center assets. Jackson assets from Third Coast
site operator of the producing royalty interest Center includes over 1,050 miles of natural
RPR has acquired with its operations based gas gathering pipelines and five gathering Midstream
in Appalachian Basin major shale formations. compressor stations with a gathering capacity
The corporation is one of the United States’ of over 50 MMcf/d and multiple interstate Black Bear Transmission today announced
most expansive natural gas exploration, pipeline interconnects (both National Fuel that it has completed the previously
production, and development companies with Gas and Tennessee Gas Pipeline) with total announced bolt-on acquisition of a portfolio
access to 8.43 trillion cubic feet equivalents of interconnect capacities of almost 100 MMcf/d. of Natural Gas Transmission assets from a
natural gas reserves. The transaction adds to Pin Oak Midstream’s subsidiary of Third Coast Midstream.
“At Rising Phoenix Royalties, we strive growing asset base within the Appalachian Black Bear is a portfolio company of the
to provide the highest possible value to our Basin. second Basalt fund. This transaction marks
clients. We recognise the uniqueness of each Brent Breon, president of Pin Oak Black Bear’s second bolt-on acquisition,
acquisition and work with landowners, as Midstream and chief commercial officer having acquired the Ozark system from
well as industry professionals to understand of Pin Oak Energy Partners, stated: “These Enbridge in April 2020.
their specific targets,” says Janie Widman, Vice assets in Mercer, Lawrence, and Crawford The NGT Assets include six intrastate
President of Rising Phoenix Royalties. “With counties of Pennsylvania are a great fit to natural gas pipelines spanning approximately
all the changes we have endured this year, our expanding footprint and further bolster 1,400 miles in Alabama, Louisiana and
RPR has remained committed to providing the Company’s midstream assets in the oil Mississippi. The system has total capacity of
valuable insight and opportunities to mineral and wet gas windows of the Utica play in more than 800 MMcf per day and benefits
owners.” northwestern Pennsylvania. The Jackson from significant interconnectivity to major
In May 2020, RPR established Rising Fund Center assets currently gather conventional long-haul pipelines, providing reliable, cost-
IV, the company’s fourth royalty fund. The and unconventional gas from third party advantaged gas supply to utilities and other
offering was created for investors seeking operators in the area and will allow Pin Oak key end-users.
alternative asset portfolio diversification. Energy to connect and produce Utica wells “We are very pleased to finalise this
It follows a series of three other successful currently waiting on pipelines. Additionally, purchase of additional pipelines from Third
placements from RPR. Pin Oak remains committed to our ongoing Coast Midstream,” said Rene Casadaban, chief
RISING PHOENIX ROYALTIES, September 03, efforts of executing our growth strategy executive officer of Black Bear Transmission.
2020 through acquisitions even during these “These assets are a perfect fit with Black Bear
difficult times.” because they strengthen our footprint of
high-quality, demand-driven gas pipelines
that are well-positioned to capture increasing
natural gas demand in the Southeast United
States. A team of seasoned operations and
business development personnel will be
coming to Black Bear with the assets, allowing
us to maintain our focus on providing
safe and reliable service to our customers.
We appreciate all the work on the part of
Third Coast Midstream for making this a
successful transaction, and we look forward to
completing a smooth transition.”
“We are excited about the follow-on sale
of the NGT Assets to Black Bear,” stated Matt
Rowland, president and chief executive officer
of Third Coast Midstream. “This transaction
represents one of the final pieces of Third

P16 www. NEWSBASE .com Week 36 10•September•2020