Energy Transfer Grows More Tentacles

Energy Transfer Grows More Tentacles

Texas and Okla., are back in the headlines this morning but it’s not the frigid weather lifting eyebrows this time. Reese Energy Consulting is following breaking news from Dallas-based pipeline behemoth Energy Transfer, which has announced it will acquire Okla. City-based Enable Midstream in an all-equity deal valued at 7.2 billion. The merger includes 14,000 miles of natural gas, crude, condensate and produced water gathering pipe; 15 major processing plants; 10,000 miles of intrastate and interstate natural gas pipelines; and 7 gas storage facilities across Okla., Texas, La., Mo., and into Ill. The combined company strengthens Energy Transfer’s already sizeable NGLs system with added gathering and processing assets in Okla.’s Anadarko Basin and connectivity to its Gulf Coast fractionation complex. Other perks include Enable’s gas gathering and processing assets in the Arkoma Basin across Okla., and Ark., and the Haynesville in La., and Texas. We now return you to your regular weather programming.

 

Energy Transfer

Energy Transfer is one of the largest and most diversified midstream energy companies in the country with approximately 90,000 miles of pipelines traversing 38 states transporting the oil and gas products that make our lives possible.

www.energytransfer.com

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

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Jumpin’ Jack Flash…

Jumpin’ Jack Flash…

​Hang on to your hats in the gas-rich Haynesville. Reese Energy Consulting today is studying a sequence of events that foretell a nice fat bump for producers there through at least the first half of 2021. With a return to record-breaking LNG exports and record demand for feedstock, the shale play shows Moves like Jagger with production narrowing in on pre-COVID levels at more than 13.5 BCFD. Producers added 10 rigs in 4Q last year for a total of 46—a full fleet recovery in the only major U.S. basin to do so. A beehive of activity to expand much-needed pipeline capacity also is buzzing along with recent projects adding 1.75 BCFD of throughput. Two of those expansion projects helmed by Houston-based Midcoast Energy play a big part to relieve the area’s bottlenecks, and now a third is slated for completion before March. MidCoast’s CJ Express will add compression and pipeline facilities on the company’s 4,000-mile East Texas system, expanding Haynesville capacity by another 1 BCFD and offering producers connectivity to more Gulf Coast demand centers.

What do you think? Learn more about REC’s complete range of midstream services at www.ReeseEnergyConsulting.com.

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Panhandle Gets its Groove On

Panhandle Gets its Groove On

As the sun rose on 2020, Okla. City-based Panhandle Oil and Gas officially retired its business model as a working-interest owner in the properties it held to a minerals-only manager. No longer would the company participate in drilling new wells. Instead, with a fresh CEO at the wheel, Panhandle looked to add more producing mineral assets with active drilling programs to its portfolio. Reese Energy Consulting today is following the latest news from Panhandle, which has now closed on two acquisitions from Okla., neighbor Red Stone Resources—one in the SCOOP, and the second in the Haynesville marking the company’s debut there. The purchase price of $6.4 million in cash and $0.5 million in Panhandle stock buys a total 795 net acres with a combined net production of 1.1 MMCFD of which 93% is natural gas. With this year’s first acquisition under its belt, Panhandle—literally hours later—announced a name change to PHX Minerals. The company owns about 258,000 net mineral acres in Okla., N.D., Texas, N.M., and Ark., of which 71% is unleased and undeveloped.

Panhandle Minerals

Oklahoma City-based, PHX Minerals Inc. (NYSE: PHX) is an oil and natural gas mineral company with a strategy to proactively grow its minerals position in our core areas of focus. PHX owns approximately 253,000 net mineral acres principally located in Oklahoma, North Dakota, Texas, New Mexico and Arkansas. Approximately 71% of this mineral count is unleased and undeveloped.

phxmin.com

​What do you think?

Learn more about REC and our producer services at www.ReeseEnergyConsulting.com.

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