Page 13 - NorthAmOil Week 02 2023

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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