Good Buys in the Bakken

Good Buys in the Bakken

There’s a whole lotta business and busyness happening in N.D., these days. Two massive projects recently announced are soaking up much of the limelight for certain, including construction of a largest-of-its-kind power plant to use ethane as the primary fuel, and development of the world’s largest carbon-capture facility at a power plant. But there’s also some movin’ and shakin’ going on for E&Ps saying hello or waving goodbye. Reese Energy Consulting today is following the latest news from the Williston Basin, where Calgary-based Enerplus has acquired Houston-based Bruin E&P Operating for $465 million in an all-cash deal. This marks the latest Bakken purchase by Enerplus whose U.S. operations now make up 90% of its total production. The new acquisition adds 155,500 acres and 459 producing wells adjacent to the company’s existing 66,300 net acres and increases production by 24,000 BPD. Enerplus subsequently raised its 2021 production forecast from 86,000 BPD to 108,500 and CAPEX from $300 million to as much as $385 million.

 

Enerplus

Enerplus Corporation is one of Canada’s largest independent oil and gas producers. The company holds oil and natural gas property interest in the United States and in western Canada, in the provinces of Alberta, British Columbia and Saskatchewan.

www.enerplus.com

What do you think? Learn more about REC and our upstream, midstream, and downstream services at www.ReeseEnergyConsulting.com.

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Open for Biz

Open for Biz

Austin, Texas-based WhiteWater Midstream is ready to move more natural gas out of the Permian Basin. A whole lot more. Reese Energy Consulting today is following the latest news from WhiteWater, which has announced early service on the expansion of its eponymous Agua Blanca system. The 200-mile Agua Blanca marks the company’s most recent joint venture with WPX and now flows more than 3 BCFD—double its initial capacity—from the Midland and Delaware plays to the Waha Hub, along with connections to 19 processing facilities. System expansion aside, Agua Blanca also marks Whitewater’s second, large-scale infrastructure project in the Permian since the company’s formation in 2016. The 500-mile Whistler Pipeline, currently under construction, will transport 2 BCFD of natural gas from an interconnect with the Waha Header to a terminus near Agua Dulce. Completion is expected in the second half of this year. Congratulations, WhiteWater.

Whitewater Midstream

WhiteWater Midstream is a management owned, Austin based midstream company founded in 2016. WhiteWater is partnered with multiple private equity funds and direct investors. Since inception, WhiteWater has reached final investment decisions on ~$3 billion in greenfield development projects.

whitewatermidstream.com

What do you think? Learn more about Reese Energy Consulting and our natural gas marketing and midstream services and expertise at www.ReeseEnergyConsulting.com.

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When Worlds Collide

When Worlds Collide

Newly crowned as the world’s richest man, Elon Musk enjoys two great passions—space exploration and the environment. Combining the two might first appear at odds but, hey, when you’re a visionary worth $201.4 billion even the unlikeliest pair can make total sense. Reese Energy Consulting today is following the latest news out of Musk World with the entrepreneur’s announcement to award a lucky winner $100 million for the best carbon capture technology, which Musk will use to produce synthetic rocket fuel. Now, the race is afoot to determine which—if any—of the current tech mixes are prize contenders, but you can bet global engineers with ideas of their own are stockpiling matches and midnight oil. Meanwhile in Texas, Musk and his SpaceX intergalactic enterprise look to drill gas wells on the company’s 806-acre oil lease near its Boca Chica launchpad, with plans to use methane, along with liquefied oxygen, to power engines on the new Starship rocket. The Starship’s first flight to Mars could launch as early as 2024.

 

SpaceX

Space Exploration Technologies Corp. is an American aerospace manufacturer and space transportation services company headquartered in Hawthorne, California. It was founded in 2002 by Elon Musk with the goal of reducing space transportation costs to enable the colonization of Mars.

www.spacex.com

What do you think? Learn more about REC and our natural gas and midstream services here on Planet Earth at www.ReeseEnergyConsulting.com.

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