Page 13 - NorthAmOil Week 02 2023
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NorthAmOil                                  NEWS IN BRIEF                                        NorthAmOil








                                                                                Petroleum Logistics at Targa Resources.
                                                                                He previously served as founder and CEO
                                                                                of Coast Energy, co-founder and CEO of
                                                                                PipeStem Energy Group, vice president of
                                                                                marketing for Enterprise Products Partners,
                                                                                founder and CEO of RedMeteor LLC and
                                                                                founder, CEO and EVP of Cornerstone
                                                                                Propane and Coast Energy Group.
       originally announced transaction by acquiring   its goal of net-negative emissions.  TPA, January 09, 2023
       an additional 3.25% working interest in the   “We are excited to be working
       Mascot Project for an incremental $29.2mn of   with Momentum Midstream on this
       unadjusted purchase price (identical pro rata   groundbreaking project,” said Talal El Awar,   ENERGY TRANSITION
       economic terms as originally announced).  President of Opero Energy. “Our team has a
         In total, NOG acquired a 39.958%   history of successful project execution in the   Leading US natural gas
       working interest in the Mascot Project. The   Haynesville Shale, and we look forward to
       initial closing settlement was $320.0mn in   supporting increased natural gas production   companies establish
       cash, which includes a $43.0mn deposit   from this important play.”
       paid at signing in October 2022. The closing   The NG3 project is strategically significant   Appalachian Methane
       cash settlement is net of preliminary and   for alleviating existing strains in the
       customary purchase price adjustments and   Haynesville shale and for supplying domestic   Initiative
       remains subject to post-closing settlements   and international markets with direct access
       between NOG and MPDC. More information   to growing production in the region. Natural   A group of leading US natural gas operators
       regarding this acquisition can be found   gas is expected to flow through NG3 in 2024.  today launched the Appalachian Methane
       in NOG’s October 19, 2022 press release   OPERO ENERGY, January 11, 2023  Initiative (AMI), a coalition committed to
       announcing the transaction.                                              further enhancing methane monitoring
       NORTHERN OIL AND GAS, January 09, 2023                                   throughout the Appalachia Basin and
                                           MOVES                                facilitating additional methane emissions
                                                                                reductions in the region. Enhancing methane
                                           Vincent DiCosimo elected             sector will assist in positioning companies for
       MIDSTREAM                                                                emissions monitoring in the natural gas
       Momentum Midstream                  Texas Pipeline Association           continued GHG reductions and will further
                                                                                underscore the sustainability proposition of
       awards Opero Energy gas- chairman                                        Appalachian natural gas in the global energy
                                                                                system.
       treating contract for NG3           Vincent DiCosimo, vice president of   members include Chesapeake Energy, EQT
                                                                                  The formation of AMI, whose founding
                                           government affairs at Targa Resources, has
       development in Louisiana            been elected chairman of the Texas Pipeline   and Equitrans Midstream, brings together two
                                                                                of the top five natural gas producers in the
                                           Association (TPA). TPA is the largest state
       Opero Energy, an affiliate of Audubon   trade association in the country that solely   United States and one of the country’s leading
       Engineering Company, and a leading provider   represents the interests of the intrastate   midstream service providers.
       of processing technology and equipment,   pipeline network. The association made   AMI’s efforts are intended to promote
       announced the award of a major engineering,   the announcement last Friday at its Annual   greater efficiency in the identification
       design, and fabrication contract for   Meeting, held at the C. Baldwin Hotel in   and remedy of potential fugitive methane
       Momentum Midstream’s New Generation Gas   downtown Houston.              emissions from operations in the Appalachian
       Gathering (NG3) project in the Haynesville   “A very big welcome to Vincent DiCosimo   Basin through coordinated satellite and aerial
       shale.                              as our new chairman,” said TPA President   surveys on a geographic-basis, as opposed
         With 4,000 miles of pipeline and seven   Thure Cannon. “For many years, he has   to an operator-specific basis, and taking into
       processing plants, NG3 will have an initial   served on the TPA Board, most recently as   account advanced methane monitoring and
       treating capacity of 1.7 billion cubic feet per   vice chairman. His vision and sage counsel   reporting frameworks.
       day (BCFD), expandable to 2.2 BCFD. The   have been invaluable to the Texas Pipeline   The coalition will seek to coordinate and
       project will also include a carbon capture and   Association. At the same time, we would like   share best practices in mitigating methane
       sequestration (CCS) component to capture   to thank Shay Bluntzer for his dedication   emissions from natural gas operations,
       and permanently sequester the associated   and leadership over the past two years as our   including production and midstream, and
       CO2.                                chairman. We are very fortunate to have this   collaborate on activities and monitor results
         Opero Energy will engineer, design,   level of leadership to help guide us through   through transparent, publicly available
       and fabricate the treating and processing   many challenging and exciting times for the   reporting.
       equipment for this significant gas-  midstream industry.”                  “As an industry, we have an important
       gathering effort. Using the latest processing   DiCosimo has served as an officer of   role to play in both meeting global energy
       technologies and fabrication best practices,   Targa Resources since the acquisition of   needs and reducing climate change risks,” said
       Opero Energy’s gas-treating solutions will   his company, Coast Energy Group LLC, in   Chesapeake’s President and Chief Executive
       enable Momentum Midstream to efficiently   December of 2010. Prior to his current role,   Officer Nick Dell’Osso. “The AMI coalition
       separate CO2 from methane gas to achieve   DiCosimo was senior vice president of Targa   offers an opportunity to better measure and



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