Diversified Finds a New Home in the Anadarko

Diversified Finds a New Home in the Anadarko

While late-year M&A activity in the Permian and Eagle Ford is in full swing, the acquisitions dance on our home turf is also getting a twirl. Reese Energy Consulting today is following the first of two recent oil and gas deals in Okla., where drilling has steadily ramped up as of late with 41 rigs at work—an increase of 241.7% over the same time last year. First up is Okla. City-based Tapstone Energy, the state’s largest leaseholder and mineral rights owner operating primarily in the Anadarko Basin. And that’s exactly where Birmingham, Ala.-based Diversified Energy is looking to…well, diversify its natural gas production. For 20 years, Diversified has operated solely in the Marcellus and Utica, producing gas, NGLs, and oil from 67,000 conventional and unconventional wells. Now, with a new expansion strategy in place to repeat its Appalachian business model in the Mid-Continent, Diversified will purchase Tapstone for $419 million. The deal includes 750,000 acres of mineral rights, 3,900 wells, and 25 MBOED in production with 80% in gas.

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

Tapstone Energy

Diversified Energy

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Operation Bullseye

Operation Bullseye

ESG plans throughout the nation’s oil and gas industry continue to make headlines these days, and while the end goal is the same—net zero greenhouse emissions by 2050—the journey to get there has many different roadmaps. Reese Energy Consulting today is following the latest ESG report from Houston-based EagleClaw Midstream, the largest gathering and processing operator in the Permian’s Delaware. EagleClaw expects to achieve single-digit reductions in its carbon emissions level by 2025 with a plan that includes converting its fleet to electric vehicles, expanding electric compression, investing in CCS technologies, and tying 20% of employee bonuses to the company’s annual ESG goals. Okla. City-based Devon also has announced emissions-reduction plans that sweep its operations in the Delaware, Eagle Ford, Anadarko, Powder River and Williston basins. Actions will include reducing and ultimately eliminating flaring by 2030, electrifying facilities, adding air-driven pneumatic controllers, and minimizing freshwater use. Bold moves ahead.

What do you think? How can REC help you along your energy transition journey? Contact us or learn more at www.ReeseEnergyConsulting.com.

 

EagleClaw Midstream

EagleClaw Midstream is strategically located in the heart of the Delaware Basin in the Permian, one of the fastest growing areas for oil and gas development in the world. They provide the gathering, compression, processing, transportation and water management services required to bring natural gas, natural gas liquids and crude oil to market and are dedicated to providing the best service and netback for their customers.

www.eagleclawmidstream.com

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