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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An All-Around EPIC Win

An All-Around EPIC Win

EPIC Midstream’s vision to create a NGLs “super system” has officially been realized after only four years. Reese Energy Consulting today is following the latest news from Houston-based EPIC, which in 2017 set off to build an integrated pipeline and fractionation network that would offer a smaller but best-in-class alternative to a crowded Mt. Belvieu. The company kick-started its ambitious plans with construction of the 700-mile Y-Grade Pipeline to flow Permian and Eagle Ford NGLs to Gulf Coast refiners, petrochem companies, and export markets. But more work lay ahead. EPIC last year completed its first greenfield fractionator at its Corpus Christi site that connected the Y-Grade Pipeline with an initial 110 MBbls of fractionation capacity. Now, the final legs of this super system are done and open for business. EPIC has announced completion of a 165-mile NGLs pipeline that extends from the company’s Corpus Christi facility to the Sweeny, Texas, fractionation and storage complex, adding another 130 MBbls of owned capacity. EPIC also has put into service a 175-mile propane pipeline for deliveries to Sweeny. Congratulations to all on the latest EPIC achievement.

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

EPIC Midstream

EPIC was formed in 2017 to build, own and operate midstream infrastructure in both the Permian and Eagle Basins. EPIC operates the EPIC Crude Oil Pipeline and the EPIC NGL Pipeline that span approximately 700-miles servicing the Delaware, Midland Basins and Eagle Ford Shale.

epicmid.com

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