There’s No Place Like Nome

There’s No Place Like Nome

The nation’s largest independent oil and gas producer and its midstream subsidiary have teamed up to sponsor one of America’s most iconic events that never fails to go straight to the dogs. Reese Energy Consulting today is following the latest news from Houston-based Hilcorp and Harvest Midstream, which will sponsor the 50th anniversary of the Iditarod Alaskan dogsled race next March. The 1,000-mile trail begins in Anchorage and extends to Nome, where teams of veteran and rookie mushers from around the world battle winter’s most brutal elements to claim a share of a $500,000 purse. The 2022 Iditarod marks a half-century of races since its inaugural launch in 1967 and is the first sponsorship for Hilcorp and Harvest as principal partners. Hilcorp last year acquired BP’s Alaska upstream assets along with a stake in the 800-mile Trans Alaskan Pipeline System for $5.6 billion, making it the largest private operator and gas supplier in the state. The company holds nearly 1 million gross acres in the Cook Inlet and on the North Slope, producing an average 340 MBOEPD. Say it with us, “Mush.”

What do you think? Learn more about REC and our range of energy services at www.ReeseEnergyConsulting.com.

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Gas Puts the Sport in China’s Olympic Games

Gas Puts the Sport in China’s Olympic Games

​When China put its name in the hat to host the 2008 Olympic games, the country had seven years to meet the WHO’s environmental standards and drastically curb its “airpocalpse.” The country invested billions to cut industrial and vehicle emissions; moved entire factories away from event venues; and opened six new subway lines to further reduce pollution. But once the games were complete and the standards lifted, China reverted to its old ways reaching the most toxic levels of air quality between 2012-2013. Then it entered the ring again. Reese Energy Consulting today is following news out of China, which spent another seven years to re-address its air and water quality issues in time for the 2021-2022 games. Amid international pressure for a “green” Olympics, the country’s efforts to clean up its act are largely dependent on more natural gas for electricity, vehicles, and public transportation. With the winter games ahead in February during peak winter season and China’s increasing demand for gas, LNG prices have already begun to soar with the latest spot prices up nearly four times year on year at $21.185/MMBTU. Cue the snowboards.

What do you think? Learn more about REC and our natural gas and LNG expertise at www.ReeseEnergyConsulting.com.

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More Rock ‘n’ Roll Ahead in the Haynesville

More Rock ‘n’ Roll Ahead in the Haynesville

There are what you call “closely held” oil and gas producers and then there is The Woodlands, Texas-based GeoSouthern Energy—a company so private, it managed to stay off the media radar until late 2013, nearly 32 years after its formation. (Don’t bother looking for a website; there is none.) Quite suddenly, all eyes were fixated on this little-known E&P when it sold 82,000 acres in the Eagle Ford to Okla. City-based Devon for $6 billion in cash. A year later, GeoSouthern purchased 112,000 acres and 300 operating wells in the Haynesville from Encana (now Ovintiv) for $850 million. Reese Energy Consulting today is following the latest news on GeoSouthern and its financial partner Blackstone, which now are teasing a potential sale of those Haynesville assets for $2 billion. And there are bound to be some serious tire-kickers eager to pounce on a basin set to become the nation’s largest source of dry gas by 2035, with production increasing by 86%, or 10 BCFD. Memory tickler: Blackstone was the largest shareholder in Vine Energy upon the $2.2 billion sale of that company’s Haynesville assets last month to Chesapeake, the largest acreage holder there.

What do you think? Learn more about REC and our natural gas services at www.ReeseEnergyConsulting.com.

GeoSouthern Energy

Independent Oil & Gas Producing Company specializing in production of Austin Chalk and Eagle Ford unconventional formations. The company produces oil and gas and has substantial acreage positions in Gonzales and Lavaca counties in Texas. The corporate office is located in The Woodlands, TX.