Renewable Rice

Renewable Rice

The headlined proxy war in 2018 between two natural gas “machines” is practically stuff of legend. A year before, Pa.-based EQT acquired Rice Energy for $8.2 billion, creating the nation’s largest natural gas producer. But there was a caveat to the deal; namely, a pledge by EQT that the combined company would operate more efficiently, spend less, and make more. But in short order, the merger fell into failure. EQT’s stock price plunged 42% to the tune of $4 billion. So, the Rice Brothers came calling along with shareholder insistence to boot bosses, displace board members, and elect Toby Rice as EQT’s new CEO. Suffice it to say, the Rices know how to produce conventional gas profitably. Now, they plan to take renewable gas to the stratosphere. REC today is following the latest from Rice Acquisition Corp., which has purchased Aria Energy and Archaea Energy for $1.27 billion. Combined, the two will be sworn in as the nation’s largest producer of RNG captured from landfills, with a dozen projects in place, 20 more in the works, and plans to triple output in three years.

 

EQT Corporation

EQT Corporation is a leading independent natural gas producer with an evolutionary focus on our future. EQT has operations in Pennsylvania, West Virginia and Ohio and is dedicated to responsibly developing our world-class asset base in the core of the Appalachian Basin. EQT is making strides toward becoming the best producer by creating long-term value for all stakeholders, including employees, landowners, communities, industry partners and investors.

www.eqt.com

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

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Please, Sir. I Want Some More.

Please, Sir. I Want Some More.

Looks like E&P Enerplus has a sweet tooth for the Bakken with a billion-dollar investment there. Reese Energy Consulting today is following news from Calgary-based Enerplus, which this year has nearly quintupled its footprint in the Williston Basin to nearly 300,000 acres. The company in January acquired the assets of Houston-based Bruin E&P Operating for $465 million in cash that added 155,000 net acres and 459 producing wells to its then existing 66,440 acres. The latest bolt-on deal with N.Y.-based Hess Corporation for a minty $312 million includes 78,700 acres with limited exposure to federal land, 230 net undrilled locations, 6,000 BPD of production, and proved-plus-probable reserves of 62.7 MMBbls. As one of the largest operators in the Bakken with close to 800,000 acres, Hess says it’s focused on strengthening the company’s cash and financial liquidity and hadn’t planned to drill on the majority of the divested acres until 2026.

Enerplus

Enerplus Corporation is one of Canada’s largest independent oil and gas producers. The company holds oil and natural gas property interest in the United States and in western Canada, in the provinces of Alberta, British Columbia and Saskatchewan.

www.enerplus.com

​What do you think? Learn more about REC and our upstream, midstream, and downstream oil and gas services at www.ReeseEnergyConsulting.com.

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STACK One Up for Tall Oak

STACK One Up for Tall Oak

Fresh off its acquisition in January by private equity firm Tailwater Capital, Okla. City-based Tall Oak Midstream has made its first purchase in a shale play the company knows like the back of its hand—the Anadarko Basin’s STACK. Reese Energy Consulting today is following the latest news from Tall Oak, which has acquired Redcliff Midstream from Canyon Midstream for an undisclosed sum. The bolt-on deal includes 200+ miles of newly built gathering pipelines, five compressor stations across four Okla., counties, and a 240 MMCFD cryogenic gas processing plant in the Northern STACK Extension. This liquids-rich area, according to Tailwater, offers a robust inventory of economic undeveloped drilling locations with underutilized midstream infrastructure that Tall Oak continues to evaluate in a search for additional bolt-on opportunities to grow its regional presence. Tall Oak’s existing STACK assets include more than 750 miles of low- and high-pressure gathering lines across seven Okla., counties.

 

Tall Oak Midstream

Tall Oak Midstream was founded in early 2014 by a team of experienced executives with diverse and complementary backgrounds across the midstream and upstream sectors. With a firm belief in a set of core values and a dedication to creating a customer-driven company that operates with excellence as its standard and innovation as a requirement, the Tall Oak team provides oil and gas producers a full suite of midstream services custom designed to meet our customers’ specific requirements and help achieve their business objectives.

www.talloakmidstream.com

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

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