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NorthAmOil NEWS IN BRIEF NorthAmOil
UPSTREAM legacy drilling & lease obligations. Identified term gathering agreement that includes an
currently are 75-100 potential development acreage dedication and minimum volume
HNRC to acquire well sites on existing leases with plans to commitment from an upstream affiliate of the
expand the company’s leasehold footprint
seller.
Cunningham Energy through future acquisitions and leasing. Louisiana and Harrison County, Texas,
The system is located in Caddo Parish,
Cunningham Energy has a vertically
interests of up to $100mn integrated business model with multiple in an area of the Haynesville shale play
with increasing rig activity and growing
acquisition targets identified. Since its
Houston Natural Resources Corp. (HNRC) inception they have relied on past experience production. It is well situated to access
announced today that it has signed a in parallel with the application of new transportation to supply large markets in
letter of intent (LoI) for a transaction with technologies to succeed in the ever-changing Louisiana and Texas, including growing
Cunningham Energy. field of efficient energy production. liquefied natural gas (LNG) export markets.
HNRC will form a special purpose Cunningham Energy is positioned to take The system was constructed between 2020
acquisition corporation (SPAC) with cash advantage of current and future trends in and 2022 and has a nominal capacity of up to
and securities for the acquisition of interests oil and natural gas production throughout 1.2 bcf per day. It was designed with an ESG
in Cunningham Energy with the purpose of these basins with aggressive but responsible focus for efficient operations and to minimise
acquiring, exploring, and producing oil and decisions in the future. emissions, including solar/battery powered
gas in the United States and Canada. The HOUSTON NATURAL RESOURCES CORP., March meters.
proposed investment is for up to $100,000,000 23, 2022 “ArcLight is pleased to have the
in cash and securities and subject to the opportunity to acquire modern infrastructure
competition of due diligence and financing. to assist in the development of clean natural
The parties are committed to closing the MIDSTREAM gas to help in the nation’s energy transition,”
transaction on or before June 30, 2022. said Josef Alves, Managing Director
Under the Letter of Intent additional future ArcLight to acquire at ArcLight. “We strongly believe that
development funding for up to $600,000,000 responsible natural gas production will be
from SPAC and PIPE follow on transactions Haynesville gas-gathering central to providing energy security for the
are also planned. country and the world as we transition toward
Cunningham Energy is an independent system a clean energy future.”
producer of oil and gas. Cunningham Energy Don Kirkendall, CEO of Cutlass added:
conducts operations and oil/gas interests ArcLight Capital Partners and Cutlass “Cutlass is excited to establish itself as a
in the Appalachian Basin with over 30,000 Energy Partners announced today that their natural gas infrastructure player in the
plus net acres of leases. Cunningham Energy affiliate, Saber Midstream, has entered into Haynesville via its partnership with ArcLight
was formed in 2008 and was a pioneer of an agreement with an undisclosed seller in Saber Midstream. Our proximity to
shallow horizontal oil drilling in West Virginia to acquire a natural gas gathering system multiple markets including the increasingly
starting in 2014. During its future phase 1 in the Haynesville basin of Louisiana and significant Gulf Coast LNG market will allow
development programme in West Virginia, Texas. The parties anticipate closing the us to pursue a strategy of expansion to offer
Cunningham Energy is to permit, drill, and transaction in the coming weeks, subject to shippers attractive natural gas midstream
complete 15 shallow horizontal Big Injun, certain conditions and regulatory approval. solutions. We look forward to participating
Weir, and Berea Sandstone Oil wells to fulfil The transaction will be supported by a long- in the growth of this critical component
bridging to the future of US clean energy
infrastructure.”
ARCLIGHT CAPITAL PARTNERS, March 22,
2022
Whiptail Midstream
acquires DJR Energy’s oil,
gas, and water gathering
systems in the San Juan
Basin oil window alongside
long-term acreage
dedication
Whiptail Midstream announced today that
the company has acquired the oil, gas, and
water gathering assets of DJR Energy in the
Gallup oil window of the San Juan Basin. As
Week 12 24•March•2022 www. NEWSBASE .com P11