Page 12 - NorthAmOil Week 12 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM MIDSTREAM as we continue to grow our footprint and
service offerings in the region,” said Max
Tamarack Valley Energy Tailwater Capital-backed Myers, chief financial officer of Tall Oak. “We
are thrilled with how quickly our partnership
announces closing of Tall Oak Midstream with the Tailwater team has presented new
opportunities, and we look forward to
previously announced II acquires Redcliff continuing to work together to grow our
business while maintaining best-in-class
strategic Clearwater Midstream service for our customers.”
“Redcliff brings an attractive asset base
and waterflood asset Tall Oak Midstream, a full suite midstream with newly-built pipelines and high-quality
provider serving customers in the Mid-
compression and processing facilities that
acquisitions and CAD68mn Continent, today announced that it has augment Tall Oak’s existing capabilities
acquired Redcliff Midstream, a provider of
and grow the existing platform,” said Jason
equity financing gas gathering, treating and processing services Downie, Co-Founder and Managing Partner
at Tailwater Capital. “The Northern STACK
to producers in Oklahoma’s STACK play.
Tamarack Valley Energy is pleased to Financial terms of the transaction were not Extension encompasses a robust inventory of
announce the closing of the two previously disclosed. economic undeveloped drilling locations and
announced strategic acquisitions in the Founded in 2017 as a wholly owned underutilised midstream infrastructure that
Provost and Nipisi areas of Alberta for a total subsidiary of Canyon Midstream Partners II, Tall Oak is actively evaluating as it searches
net purchase price of CAD135.3mn, after Redcliff Midstream provides gas gathering, for accretive bolt-on opportunities to expand
deducting the proceeds from the sale of two treating and processing services throughout its regional footprint. Ryan, Carlos, Max,
newly created 4.0% gross overriding royalties the northern region of the STACK play. Lindel and the rest of the exceptional Tall
on a select portion of the acquired Nipisi Today, the Company’s infrastructure system Oak management team are uniquely suited
properties. comprises more than 200 miles of gathering to execute on this consolidation strategy
Concurrent with the acquisitions, the pipeline, a network of five field compression given their deep knowledge of the basin and
company completed its previously announced stations across Woodward, Dewey, Blaine extensive relationships with nearby customers
bought-deal financing of 30,303,000 common and Canadian counties and a 240 mmcf/day and competitors alike.”
shares of Tamarack at a price of CAD2.25 cryogenic gas processing plant in Woodward TALL OAK MIDSTREAM, March 24, 2021
per common share for gross proceeds of County. Redcliff will complement Tall Oak II’s
approximately CAD68mn. The company existing asset base – which includes more than USCF announces launch of
also completed an amendment to the 750 miles of low- and high-pressure gathering
syndicated credit facility, with an increased lines across seven Oklahoma counties – and the USCF Midstream Energy
borrowing base of CAD325mn. In addition, expand its infrastructure footprint in the
Tamarack issued 4,888,889 common shares in Northern STACK Extension region. Income Fund with Miller/
conjunction with the acquisition of Woodcote In January 2021, Tall Oak was acquired by
Petroleum. Post-completion of the financing Tailwater Capital, a private equity firm based Howard Investments
and acquisitions, Tamarack has 298,715,026 in Dallas. The transaction closed in February
common shares outstanding. 2021. USCF today announced it has launched
TAMARACK VALLEY ENERGY, March 25, 2021 “Redcliff Midstream’s complementary the USCF Midstream Energy Income Fund
network of high-quality assets and its diverse (UMI) with sub-adviser Miller/Howard
customer base are a perfect fit for Tall Oak Investments (Miller/Howard), a Woodstock,
NY based, research-driven portfolio
management firm. The fund, an actively-
managed exchange traded fund (ETF), will
apply Miller/Howard’s hallmark bottom-
up fundamental research to midstream
energy infrastructure companies focused on
transportation, storage and gathering and
processing. The Miller/Howard investment
philosophy emphasises income-producing
equities as an essential element to building
long-term wealth. Dividend income, from
high-yielding sectors like midstream energy,
can be used to fund current spending needs
or, when reinvested, to drive the power of
compounding to grow wealth over time.
Miller/Howard has integrated environmental,
social, and governance (ESG) analysis with
fundamental research since the inception of
their first strategy in 1991.
“USCF was founded on the principal of

P12 www. NEWSBASE .com Week 12 25•March•2021