Page 12 - NorthAmOil Week 28 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM SERVICES and CEO, stated: “I am excited to expand
Select’s world-class water-related services
Topaz Energy announces Select Energy Services and infrastructure footprint through this
consolidation opportunity. This acquisition
strategic acquisition of announces the acquisition will strengthen our geographic footprint,
particularly in the Mid-Continent, Permian
additional Montney royalty of Complete Energy and Rockies, while adding new geographic
breadth through a market leading position
assets in NEBC which Services, the water in the Powder River Basin. Complete and
its legacy operating companies possess an
provides 8% per share solutions subsidiary of illustrious 50+ year operating history and we
anticipate strong operational and customer
growth to 2022 free cash Superior Energy Services benefits from the acquisition.
SELECT ENERGY SERVICES, July 12, 2021
flow Select Energy Services, a leading provider of
sustainable full life cycle water and chemical
Topaz Energy is pleased to announce that in solutions to the US unconventional oil and gas MOVES
furtherance of its growth strategy of acquiring industry, today announced that it has acquired
low-risk, premium royalty interests to Complete Energy Services, an operating Southwestern Energy
generate free cash flow growth, it has entered subsidiary of Superior Energy Services. Select
into definitive agreements with Tourmaline has acquired substantially all of the water- announces appointment of
Oil for the purchase of gross overriding related assets and ongoing operations of the
royalty interests on approximately 296,000 business, including working capital. Superior chief financial officer
gross acres in the NEBC Montney play area, will retain certain non-core and non-water-
for total cash consideration of CAD145.0mn, related assets that were part of Complete as Southwestern Energy today announced that
which will be funded through Topaz’s existing part of the transaction. In consideration, Carl Giesler Jr. will join the company as
credit facilities. The NEBC Montney Royalty Select has issued 3.6mn shares of Class A executive vice president and chief financial
Acquisition lands were recently acquired common stock and paid $14.2mn in cash, officer on July 19, 2021. Michael Hancock,
by Tourmaline pursuant to its ongoing subject to standard post-closing adjustments, who has served as CFO on an interim basis,
NEBC consolidation strategy, including the to Superior to close the transaction. will continue as vice president – finance and
acquisition of privately owned Black Swan Complete is a leading provider of completion treasurer.
Energy as well as developed and undeveloped and production-related water solutions, “I am pleased to welcome Carl to the team at
acreage from Paramount Resources in the including water transfer, flowback and well an impactful time for Southwestern Energy,”
Birch area of the North Montney trend. testing, water heating, containment, fluids said Bill Way, president and chief executive
Upon close of the acquisition, Topaz will own handling, produced water gathering and officer. “Carl’s distinctive strategic perspective
royalty interests on 100% of Tourmaline’s disposal solutions across the United States, and disciplined approach to driving
NEBC Montney acreage. including the Permian, Mid-Continent, DJ shareholder value complement the Company’s
TOPAZ ENERGY, July 15, 2021 and Powder River Basins and the Marcellus existing strategy and leadership team and will
and Utica shales. help build on SWN’s strong momentum. I
John Schmitz, Select’s Chairman, President want to thank Michael for the steady hand he
provided these past many months and look
forward to more of his exceptional work as a
valued leader of the company.”
Mr. Giesler has more than 25 years of
experience serving in various oil and gas
finance, investing, and public company
executive officer roles, including most recently
at SandRidge Energy. Mr. Giesler received
a bachelor’s degree from the University of
Virginia and a juris doctorate from Harvard
Law School. He is a chartered financial
analyst.
SOUTHWESTERN ENERGY, July 15, 2021

ENERGY TRANSITION
Phillips 66 publishes its

2021 sustainability report

Phillips 66 released its 2021 sustainability

P12 www. NEWSBASE .com Week 28 15•July•2021