More Harvest in the Eagle Ford

More Harvest in the Eagle Ford

Houston-based Harvest Midstream will snap up the last 25% interest from its joint venture partner in the Eagle Ford to own 100% of a fully integrated crude oil midstream system. The price was not disclosed, but Harvest has operated the assets for more than a decade. Reese Energy Consulting is following the latest news from Harvest, an affiliate of Houston-based Hilcorp—the largest privately held oil and gas producer in the U.S., with dominant operations in Ala., Alaska, Colo., La., Ohio, Pa., Texas, and Wyo. The Harvest buyout includes 515 miles of crude oil pipe with 380 MBPD of throughput capacity, connecting Eagle Ford supplies to Corpus Christi export markets. Harvest, which owns interests in more than 6,000 miles of pipelines across seven states, transports and processes crude oil, natural gas, and NGLs in Alaska, Colo., La., N.M., Ohio, Pa., and Texas, along with managing marine terminals. Hilcorp’s Harvest Alaska in 2020 acquired a 49% stake in the 800-mile Trans-Alaska Pipeline System from BP and 49% of Alyeska Service Company for $5.6 billion, where Hilcorp ranks as Alaska’s largest private operator and the state’s largest gas supplier.

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

Harvest Midstream

Harvest Midstream is a privately-held midstream company services provider headquartered in Houston, Texas with assets in Alaska, Louisiana, New Mexico, Ohio, Pennsylvania and Texas. Harvest transports and processes oil, natural gas and natural gas liquids across the United States.

www.harvestmidstream.com

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Repsol Makes Strategic Move in the Marcellus

Repsol Makes Strategic Move in the Marcellus

Spain’s global energy behemoth Repsol has invested more of its euros in U.S. shale with a bankruptcy purchase in the Marcellus. Reese Energy Consulting today is following the latest news from Repsol, whose U.S.-based oil and gas operations include Pa., Alaska, the Eagle Ford, and offshore the Gulf of Mexico. Repsol now will add to its existing position in Pa., with the purchase of Rockdale Marcellus, which filed for bankruptcy last September. The $222 million deal includes 42,897 net acres with 100% working interest, 66 wells, 110 MMCFD in gas production, and more than 100 future drilling locations. Rockdale acquired the assets from Shell in 2017. Repsol is fattening up its natural gas presence at a time of soaring energy prices and demand in Europe. The company last August snapped up the remaining 25% for now 100% control of Saint John LNG (neé Canaport LNG) in Canada’s New Brunswick. And let’s not forget, Repsol in 2018 signed a 20-year, $4.5 billion agreement with Venture Global to buy 20 million tons of LNG from Venture’s Calcasieu Pass export terminal expected to begin commercial service by year end. Wonder where all that gas will come from. Hmm.

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

Repsol

Repsol S.A. is a Spanish energy and petrochemical company based in Madrid. It is engaged in worldwide upstream and downstream activities. In the 2020 Forbes Global 2000, Repsol was ranked as the 645th-largest public company in the world. It has more than 24,000 employees worldwide.

www.repsol.com

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