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NorthAmOil NEWS IN BRIEF NorthAmOil
part of the transaction, DJR has agreed to a DOWNSTREAM Based on KBR’s K-COT and SCORE
long-term dedication of its leasehold acreage technology, the planned project will provide
for oil, natural gas, and water production Leading Midstream the owner and their partners an opportunity
to Whiptail. The acquisition more than to develop on existing infrastructure. The
doubles Whiptail’s dedicated acreage, miles of company selects KBR’s project will utilise available and advantaged
pipeline and production flowing on its assets. feeds to produce 2.4mn metric tonnes per
The company now has more than 475,000 catalytic olefins technology year of light olefins, while being supported by
dedicated acres and nearly 525 miles of an extensive logistics network for feedstock
pipeline in the San Juan Basin. for US petrochemicals supply and product delivery.
Whiptail plans to build out gathering KBR, March 24, 2022
infrastructure for DJR as it develops its project
acreage. The assets will be designed for
multi-well pad development to minimise KBR announced today that it has secured a MOVES
future surface disturbance. The combined contract from a leading midstream company
portfolio offers multiple synergies to make the for a world-scale olefins production facility to Verde Bio Holdings
midstream infrastructure in the San Juan as be built on the US Gulf Coast.
efficient and reliable as possible. Under the terms of the contract, KBR will announces acquisition in
“We are excited to work with DJR in provide the license and engineering for the
developing the midstream infrastructure olefins production plant. KBR’s K-COTTM the Bakken shale of North
that they need to support their activity in catalytic olefins technology is the key enabler
the San Juan Basin while also growing our that can process a wide range of feedstocks Dakota
network,” said Whiptail Midstream CEO to achieve exceptional olefin yields and
Josh Lamberton. “DJR is a proven operator production ratios in a single train with the Verde Bio Holdings, a growing energy
with an experienced team and track record of most capital and carbon efficient design. company, today announced that it continues
exploring and developing oil and gas positions The combination of K-COT and SCORETM to execute on its business plan of acquiring
in the DJ and now the San Juan basins.” steam cracking technology will deliver the a portfolio of revenue producing properties
“Whiptail has a substantial infrastructure most innovative design, support energy by agreeing to the purchase of mineral and
position in the San Juan, and we look transition and advance refining-petrochemical royalty interests in the Bakken shale of North
forward to benefiting from their experience, integration opportunities in the US Gulf Dakota, held by a private seller for a purchase
operational efficiency and reliability as the Coast. price of $415,000 in cash, subject to price
midstream service provider for DJR and our “We are excited to support our client’s adjustments pending due diligence.
upstream partners moving forward,” said DJR vision for this ambitious petrochemical The interests to be acquired are located
CEO David H. Lehman. venture,” said Doug Kelly, KBR President, in the heart of the Bakken in McKenzie and
Sidley Austin LLP served as legal counsel Technology. “Along with meeting their Williams counties, North Dakota, and are
to Whiptail. DJR was represented by Latham objective to address growing light olefins operated by Slawson Exploration, which
& Watkins LLP. demand, our technologies will deliver leading has established itself as one of the premier
WHIPTAIL MIDSTREAM, March 21, 2022 decarbonisation techniques and provide the operators in the Bakken shale. The acquisition
platform to incorporate plastics circularity includes interest in 21 currently producing
into the project plans.” wells. Slawson currently has two rigs running
P12 www. NEWSBASE .com Week 12 24•March•2022