Page 11 - NorthAmOil Week 16 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM Clearwater, which will allow us to fully chief operating officer Clayton Hewett. With
optimise development and maximise returns more than 80 years of combined experience
Tamarack Valley Energy from this area. The Corporate Acquisition in the energy industry, the founders each
coupled with our second strategic Peavine
have built notable careers creating, managing,
announces further strategic Metis Settlement agreement and additional constructing, and operating successful
land sales in the Peavine area will expand our
midstream businesses through full life cycle.
Clearwater consolidation total Clearwater footprint to 593.2 net sections CARDINAL MIDSTREAM PARTNERS, April 21,
(379,650 net acres).”
2022
and return of capital TAMARACK VALLEY ENERGY, April 21, 2022
update, including a 20% MIDSTREAM DOWNSTREAM

monthly dividend increase Strategic Biofuels and Koch

Tamarack Valley Energy is pleased to Industry veterans form Project Solutions agree on
announce it has entered into a definitive Cardinal Midstream
agreement to acquire Rolling Hills Energy, EPC guarantee for Louisiana
a privately held pure play Clearwater Partners, secure
oil producer, for total consideration of Green Fuels project
CAD93.0mn. Tamarack has also entered into initial $300mn capital
additional agreements to further consolidate Strategic Biofuels, the leader in developing
its Clearwater position through the addition commitment from EnCap deeply negative carbon footprint renewable
of undeveloped lands in the Peavine area. fuels plants, announced today that it has
In conjunction with these transactions Flatrock Midstream finalised its partnership with leading
the company is pleased to announce a return engineering, procurement and construction
of capital update, including a 20% base Cardinal Midstream Partners, a newly formed (EPC) firm, Koch Project Solutions (KPS) a
dividend increase and shareholder guidance independent midstream company based in subsidiary of Koch Engineered Solutions, for
with respect to delivering enhanced returns Dallas, announced today it has secured an their Louisiana Green Fuels (LGF) Project in
through tactical share buybacks and/or initial capital commitment of $300mn from Caldwell Parish, Louisiana. The companies
enhanced dividends. EnCap Flatrock Midstream. Led by a team have agreed that KPS will construct the
Brian Schmidt (Aakaikkitstaki), Tamarack’s of industry veterans with a proven track renewable fuels plant on a lump sum turnkey
president and CEO highlighted: “Tamarack’s record of success and value creation, Cardinal basis with parent company backed guarantees
announcements today are the result of our will pursue acquisition and development with liquidated damages for performance and
disciplined focus on sustainable free funds opportunities in prolific basins across North schedule delays. KPS will be responsible for
flow growth and accretive acquisitions. America with a focus on natural gas gathering constructing, commissioning, and startup of
Through our strategic focus over the past two and processing as well as congruent carbon this facility which will produce the world’s
years, we have positioned the Company for capture and sequestration. lowest carbon footprint liquid fuel.
long-term sustainable free funds flow growth The Cardinal leadership team includes “Koch Project Solutions is excited to
and shareholder returns. The acquisition of four founders: chief executive officer Doug continue our work with Strategic Biofuels,”
Rolling Hills completes the consolidation Dormer; chief financial officer Douglas Gale; said Antoine Schellinger, senior vice president
of our core operating area in the Southern chief commercial officer Justin Garrity; and of corporate development for Koch Project
Solutions. “We are confident in Strategic
Biofuels’ ability to bring innovative solutions
to market. We look forward to helping move
the Louisiana Green Fuels project forward.”
With this agreement, Strategic Biofuels
further solidifies a strong team of industry
leaders. KPS has served in a Project
Management role for the LGF Project since
its inception in late 2020 and has substantially
contributed to the Project’s rapid achievement
of major project milestones. Last month,
Strategic Biofuels announced that LGF had
moved into the Front End Engineering Design
(FEED) or FEL-3 phase of engineering.
Upon completion of FEED, expected in
the first quarter of 2023, KPS will provide
Strategic Biofuels with a Lump Sum Turnkey
price for the plant which will allow Strategic
Biofuels to secure project financing and begin
construction.
Once in operation the project will convert

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