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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Enable Gets a Green Light

Enable Gets a Green Light

Looks like it’s all systems go for construction on the proposed 135-mile Gulf Run Pipeline. Reese Energy Consulting today is following the latest news from Okla. City-based Enable Midstream, which has received a final FERC blessing on the $540 million natural gas project. Gulf Run will extend from northern La., to the Gulf Coast and run perpendicular to Enable’s 172-mile Line CP that currently moves gas supplies west to east. Modifications to the Line CP system will allow for bi-directional flow and delivery to Gulf Run. With a capacity of 1.7 BCFD, the new pipeline will enable access to gas supplies in the Mid-Continent, Haynesville, Marcellus, and Utica shales, and is backed by a 20-year commitment for 1.1 BCFD from anchor shipper Golden Pass LNG. Completion is slated for late 2022. Meanwhile, expansion of the Golden Pass terminal at Sabine Pass, Texas, is at full throttle with a finish line expected in 2024.

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

Enable Midstream Partners

Enable Midstream owns, operates and develops strategically located energy infrastructure assets that serve as a critical link between major producing basins and downstream markets.

www.enablemidstream.com

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