Page 12 - NorthAmOil Week 14 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM well as exercised preferential rights, based to ARM Monument Intermediate Holdings,
on an effective date of February 1, 2022. The an affiliate of ARM Energy Holdings, for a
W&T Offshore announces company’s management team plans to discuss total consideration of approximately $203mn.
The Monument Pipeline was part of NextEra
its recent acquisitions on an investor call on
bolt-on acquisition of Wednesday April 6, 2022. Energy Partners’ Texas pipelines portfolio.
“We are pleased to complete the sale
EVOLUTION PETROLEUM, April 04, 2022
producing properties in the Journey Energy announces of the Monument pipeline,” said John
Ketchum, chief executive officer. “With the
Gulf of Mexico sale of this pipeline asset, at an accretive
EBITDA multiple, we expect to redeploy
W&T Offshore today announced that closing of the private the transaction proceeds to acquire higher-
it has acquired the remaining working company acquisition yielding renewable assets. This transaction
interests in the oil and gas producing demonstrates our ability to execute on our
properties purchased earlier this year from Journey Energy reports that it has closed long-term growth plans as we continue to
an undisclosed private seller. The assets are the previously announced private company position NextEra Energy Partners to take
located in Federal shallow waters in the acquisition. advantage of the clean energy transformation
central region of the Gulf of Mexico at Ship The acquisition price was paid via the and continue to offer a best-in-class investor
Shoal 230, South Marsh Island 27/Vermilion issuance of 1.75mn Journey shares plus value proposition with growth prospects that
191, and South Marsh Island 73 fields. The CAD8.0mn of cash. Production from remain as strong as ever.”
transaction had an effective date and closing PrivateCo’s producing wells the period March NEXTERA ENERGY PARTNERS, April 04, 2022
date of April 1, 2022. Cash consideration of 13-26 was approximately 660 boepd (54%
approximately $17.5mn was paid to the seller light crude oil and NGLs). The new Ellerslie Texas pipeline company
using cash on hand. horizontal well drilled by PrivateCo in the first
W&T OFFSHORE, April 05, 2022 quarter (31% working interest) has now been Max Energy announces
connected to PrivateCo’s production facility
Evolution Petroleum and commenced production on April 1. This purchase of Southcross gas
well is forecast to add approximately 75-100
announces closing of boepd net to Journey. pipeline
JOURNEY ENERGY, April 04, 2022
acquisition of natural gas Texas pipeline company Max Energy
continues to make moves as it today
assets in Wyoming’s Jonah MIDSTREAM announced the purchase of the Upper Gulf
Coast Pipeline System from Southcross
field and upcoming investor NextEra Energy Partners Gulf Coast Transmission, Ltd. South Cross
Gas Pipeline system. This purchase will add
call announces closing of the another 328 miles of existing pipeline to
the impressive collection of transportation,
Evolution Petroleum announced today that its sale of Monument gas terminalling, and loading infrastructure Max
transaction to acquire non-operated natural is putting together on the Texas Gulf Coast.
gas assets in the Jonah Field in Sublette pipeline “By purchasing the Southcross Gas
County, Wyoming from privately-owned Pipeline, Max Energy can now connect oil
Exaro Energy III closed on April 1, 2022. The NextEra Energy Partners today announced from all over the state to our Edna facility,”
net purchase price for the Transaction was that it has completed the sale of Monument said Todd Edwards, Max Chairman. “We
$26.2mn, including customary preliminary Pipeline an approximately 156-mile, 16-inch believe this will provide customers with
purchase price and closing adjustments, as pipeline that transports natural gas in Texas, alternatives to better optimise their crude oil
movements and increase value throughout
their supply chains.
Max Energy will immediately begin work
on converting segment of the pipeline to
crude operations. Before the end of the year,
Max plans to have completed an interconnect
with the Grey Oak Pipeline and the Victoria
Express Pipeline, which will further expand
access to growing crude production from
the Permian and Eagle Ford basins. Max is
also developing plans to connect its growing
pipeline system to both the Houston and
Corpus Christi markets. This will provide
customers with more options for crude
movements. Ultimately, this will allow
customers the ability to utilise the Port of
Calhoun to better optimise their logistics

P12 www. NEWSBASE .com Week 14 07•April•2022