Page 12 - NorthAmOil Week 12 2022
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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



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