All Fired Up

All Fired Up

Mike Hopkins has powerful plans for N.D. The CEO of Bakken Midstream Natural Gas in Bismark is an accomplished entrepreneur, attorney, and business executive whose numerous successes read like a Who’s Who of industry captains. After developing 54 natural gas-fired power plants around the world, Hopkins now looks to apply his ingenuity in the Williston Basin—and he has $25 million to do it. Reese Energy Consulting today is following the latest news from Bakken Midstream, which has signed its first ethane supply term sheet to support a large-scale baseload power plant. Three years in planning, the proposed Williston Basin Energy Center will be the largest electrical plant of its kind to leverage advanced combustion turbine technology that uses ethane as the primary fuel. The company also plans to develop other “value-added” natural gas infrastructure projects in N.D., that harness the state’s plentiful gas resources, including power generation and pipelines.

Bakken Midstream

Bakken Midstream believes that the State has the potential to become a world-class leader in value-added natural gas related products. North Dakota has tremendous natural gas resources. What’s lacking is natural gas infrastructure, in particular infrastructure for value-added products. The mission of Bakken Midstream is to develop and own that infrastructure.

bakkenmidstream.com

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

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Two Sweet Bites for Diamondback

Two Sweet Bites for Diamondback

Midland, Texas-based Diamondback Energy is as much at home in the Permian as its indigenous rattler namesake. Formed in 2007 with an initial acquisition of 4,174 net acres, Diamondback has continued to expand its presence in the Land of Crude Oil Honey, also known as the Midland and Delaware sub-basins. Following a $7 billion merger in 2018 with Energen, the company was suddenly thrust into the realm of large-cap Permian E&P independent with 390,000 net acres. Reese Energy Consulting today is following the latest strikes by Diamondback, which now has snatched up two more Permian rivals for a combined $3.2 billion. First up is Irving, Texas-based Guidon Energy in a cash-and-stock deal valued at $850 million that adds 32,000 net acres in the Midland. Next, Denver-based QEP Resources in an all-stock transaction valued at $2.2 billion that includes 49,000 net acres in the Midland with 3Q production of about 48.3 MBPD and a Williston Basin stepchild Diamondback most certainly will look to offload. Because for some E&Ps, there’s simply no place like home than the Permian.

 

Diamondback Energy

Diamondback Energy is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Midland, Texas.

diamondbackenergy.com

What do you think? Learn more about our range of producer and midstream services at www.ReeseEnergyConsulting.com.

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Outrigger Out to Conquer The West

Outrigger Out to Conquer The West

Wasn’t quite four years ago Outrigger Energy said adios to its West Texas operations with the $1.5 billion sale of its Permian midstream assets to Targa Resources. But the company hardly looked to sever ties with The West. Denver-based Outrigger had already built a sizeable crude oil gathering system in the Powder River Basin. So, flush with cash and private equity capital, Outrigger said hello darlin’ to the DJ, where it constructed a midstream system in Weld Co., Colo., that includes natural gas, crude oil, and produced water gathering pipelines. The company also purchased a 60 MMCFD cryogenic processing plant that went into service last year. Next up, how’s it goin’ Williston? With a sweet midstream commitment from XTO, Outrigger announced in January plans to build a 70-mile rich gas gathering system and a 200 MMCFD processing facility. Even today, some pipe dreams come true. Outrigger now has received the official regulatory nod from N.D., to continue construction on the plant and two pipelines that will flow residue gas and NGLs from the plant to major pipeline interconnects.

Outrigger Energy

Outrigger Energy II LLC is a private, full service midstream energy company specializing in greenfield project development with current systems operating and under construction in the DJ and Williston Basins.  The company was formed in 2017 after Outrigger Energy LLC sold its assets to Targa Resources and Tallgrass Energy Partners.

www.outriggerenergy.com

What do you think?

Learn more about Reese Energy Consulting at www.ReeseEnergyConsulting.com.

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