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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Gotta Whole Lotta Love

Gotta Whole Lotta Love

 If anything, 2020 has proven that the oil and gas industry still has a whole lotta life left for the foreseeable future. Times are uncertain, for certain. But like they say on the big screen, there’s no crying in baseball. Which aptly describes our producer and midstream clients who not only look for every advantage they can get right now but also are preparing for their energy business future. For some, that means immediate measures to identify and plug holes where revenues go lost, secure premium markets for gas sales, and take an electron microscope to contracts and agreements in need of renegotiation to boost bottom lines. But it also means finding and acting on new and emerging opportunities in a period of consolidation and industry evolution we see happening every day. Aside from the number of audits and due diligence projects REC performs throughout the year, we’re also at work on potential client A&Ds and producer services, facilitating design and commissioning of a new high-pressure gas line in the Mid-Continent, reporting on flared gas volumes, and exploring all the possibilities hydrogen offers as a fuel of the future.

What do you think?

Learn more about us at www.ReeseEnergyConsulting.com.

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Another Big Move in Oklahoma Energy

Another Big Move in Oklahoma Energy

 The bid process has wrapped up and the winner announced for Okla. City-based Chesapeake Energy’s Mid-Continent assets, writing a new—some might say brighter—chapter to the E&P’s storied history following its Chapter 11 bankruptcy in April. Okla., neighbor Tapstone Energy sealed the winning deal for $130.5 million after its initial “Stalking Horse” offer of $85 million. More than 100 companies tossed their hats in the ring for a prize that includes about 736,000 acres in the Anadarko Basin producing an average 14,000 BOEPD. Upon filing for Chapter 11, Chesapeake carried a debt load of around $9 billion, which the company is working to slash with the goal to emerge from bankruptcy late next year. Tapstone, coincidentally, completed a financial restructuring of its own also in April and raised $50 million in an out-of-court reset to reduce debt and fuel its ability to pursue near-term acquisitions and potential mergers. Looks like it’s found one.

 

Tapstone Energy

Tapstone Energy is a growth-oriented, independent oil and natural gas company focused on the development and production of oil, natural gas, and NGLs in the Anadarko Basin in Oklahoma, Texas and Kansas, while also maintaining a disciplined financial strategy.

tapstoneenergy.com

What do you think?

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

 

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