Page 10 - NorthAmOil Week 41 2021

NorthAmOil NEWS IN BRIEF NorthAmOil

MIDSTREAM gathering and processing system in the core of dividend on the Company’s common stock in
the Midland Basin,” stated Travis Stice, chief the amount of $0.31 per share. The dividend is
Rattler Midstream, a executive officer of Rattler’s general partner. payable on November 4, 2021 to stockholders
of record as of the close of business on
RATTLER MIDSTREAM, October 12, 2021
subsidiary of Diamondback October 21, 2021.
Bobby Riley, Riley Permian’s chairman
Energy, announces MOVES and CEO, commented: “We’re pleased to
announce these positive developments.
strategic Midland Basin gas Riley Permian announces We’re excited to work with such respectable
industry players as Kinder Morgan and the
gathering and processing EOR project updates and Cortez Pipeline Company and to continue
to advance our EOR pilot project. This
joint venture declares quarterly cash pipeline connection and purchase agreement
represents the first step for Riley Permian
On October 5, 2021 Rattler Midstream, a dividend in gaining direct access to a wider network
subsidiary of Diamondback Energy, and of CO2 pipeline infrastructure and to CO2
a private affiliate of an investment fund, Riley Exploration Permian today announced source product. Related to the operations
completed an acquisition of a majority updates related to its enhanced oil recovery of this project, we’ve begun the drilling of
interest in a Midland Basin gas gathering (EOR) pilot project and its upcoming vertical injection wells in the field, and we’re
and processing company from West Texas dividend. laying water and gas line infrastructure,
Gas and its affiliates through a joint venture. The company executed two agreements, according to plans previously disclosed.
Rattler invested approximately $104mn in effective October 7, 2021, related to its EOR Finally, the approximate 10% increase in
cash to acquire a minority interest in the joint pilot project. The company entered into our dividend is a testament to the continued
venture. The joint venture’s assets primarily an agreement with the Cortez Pipeline Co. execution of our business plan and return of
consist of an interconnected gas gathering relating to the connection and establishment capital to shareholders.”
system and six major gas processing plants of a delivery point for Riley Permian on the RILEY EXPLORATION PERMIAN, October 7,
servicing the Midland Basin with 925 mmcf/d Cortez Pipeline at its Champions assets in 2021
of total processing capacity with additional gas Yoakum County, Texas. Cortez owns and
gathering and processing expansions planned. operates a pipeline system originating in
“This deal highlights the strategic or near Cortez, Colorado and traversing ENERGY TRANSITION
relationship between Diamondback and the states of New Mexico and Texas for the
Rattler as this is the sixth significant joint transportation of carbon dioxide (CO2). Validere Partners with
venture with Diamondback as a major Riley Permian also entered into an agreement
customer in which Rattler has participated. with Kinder Morgan CO2, an affiliate of GuildOne in providing
With Diamondback deploying a majority Kinder Morgan, one of the largest energy
of its development capital in the Northern infrastructure companies in North America, validation of sequestered
Midland Basin, expanded gas gathering relating to the purchase and sale of CO2 from
and processing capacity and an enhanced Kinder Morgan. Riley Permian will purchase carbon for the creation
relationship with a crucial midstream partner CO2 from Kinder Morgan, which will be
with strong financial backing will support delivered to Riley Permian’s properties via its of tokenised blockchain
Diamondback’s upstream development. planned connection to the Cortez Pipeline.
For Rattler, the joint venture is an attractive Separately, Riley Permian announced today emissions assets
opportunity to invest in a growing gas that its board of directors has declared a cash
Validere, a leader in bringing commodity data
transparency to the energy industry, today
announced the completion of a partnership
with GuildOne, a pioneering technology
company, to create new digital assets for
balancing energy needs with emission
reductions.
Under the partnership Validere will
immediately start validating carbon captured
by select industry clients. This audit trail
on sequestered carbon volumes will then
be connected to other consortium partners
for the purposes of verification on a client-
by-client basis, and then to GuildOne’s
blockchain platform for the purchase of
carbon offset credits by global entities
interested in lowering emissions and meeting
targets.
“We’ve always had a lot of respect for the

P10 www. NEWSBASE .com Week 41 14•October•2021