Delaware Basin

MEXCO ENERGY CORPORATION REPORTS FINANCIAL RESULTS FOR FISCAL 2023

Retrieved on: 
Monday, June 26, 2023
Permian, MXC, Delaware Basin, Safe harbor, Lincoln, Acquisition, Annual report, Regulation, Form, BOE, Security (finance), Hand, NYSE, Cryptocurrency, Oil

MIDLAND, TX, June 26, 2023 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE American: MXC) reported results on its Annual Report, Form 10-K to the Securities and Exchange Commission for the fiscal year ended March 31, 2023.

Key Points: 
  • MIDLAND, TX, June 26, 2023 (GLOBE NEWSWIRE) -- Mexco Energy Corporation (NYSE American: MXC) reported results on its Annual Report, Form 10-K to the Securities and Exchange Commission for the fiscal year ended March 31, 2023.
  • Operating revenues in fiscal 2023 were $9,557,289, an increase of 45% when compared to fiscal 2022 operating revenues of $6,587,780.
  • Approximately 28% of the fiscal 2023 revenues were produced from royalties free of operational costs to Mexco.
  • For additional information, please contact: Tammy L. McComic, President and Chief Financial Officer of Mexco Energy Corporation, (432) 682-1119.

Piñon Midstream Expands Dark Horse Treating Facility with Additional Acid Gas Injection Well and Construction of Third Amine Treating Unit

Retrieved on: 
Thursday, June 22, 2023
Oil, Gas, Manufacturing, Energy, Other Energy, Chemicals, Plastics, Dark, NACE, AGI, Hydrogen sulfide, Carbon dioxide, Multimedia, H2S, Delaware Basin, Carbon, Dark Horse, Engineering, Natural gas, CO2, A-Train III

Piñon Midstream, LLC (“Piñon”) today announced additional expansions to its sour natural gas treating and carbon capture facility located in Lea County, New Mexico (the “Dark Horse Facility”).

Key Points: 
  • Piñon Midstream, LLC (“Piñon”) today announced additional expansions to its sour natural gas treating and carbon capture facility located in Lea County, New Mexico (the “Dark Horse Facility”).
  • View the full release here: https://www.businesswire.com/news/home/20230622534757/en/
    Piñon's Dark Horse Treating Facility (Photo: Business Wire)
    The Dark Horse Facility provides a state-of-the-art, purpose-built, sour natural gas treating and carbon capture solution for oil and natural gas producers operating in the Delaware Basin.
  • Piñon is increasing the sour gas treating capacity of its Dark Horse Facility by ~50%, to ~270 MMcf/d, with the addition of Train III.
  • Additionally, Piñon now provides tailored solutions that enable customers to source sweet natural gas directly from the Grande pipeline system.

NEXT BRIDGE HYDROCARBONS, INC. NAMES MCCABE AS BOARD CHAIRMAN

Retrieved on: 
Wednesday, June 21, 2023
Permian, Sul Ross State University, Orogrande, New Mexico, McCabe, Knowledge, Orogrande Basin, Management, Geology, Delaware Basin

FORT WORTH, Texas, June 21, 2023 /PRNewswire/ -- Next Bridge Hydrocarbons, Inc. ("Next Bridge," "our," "we," or the "Company"), a private oil and natural gas exploration and production company with interests in Texas and Oklahoma, announced today the appointment of Greg McCabe as a director and Chairman of its Board of Directors, effective immediately. Clifton DuBose, Jr., Next Bridge's current Chairman and Chief Executive Officer, will remain on the board as a director and continue as the CEO of the Company.

Key Points: 
  • Clifton DuBose, Jr., Next Bridge's current Chairman and Chief Executive Officer, will remain on the board as a director and continue as the CEO of the Company.
  • The experience and knowledge learned in the Wolfbone play helped formulate McCabe and Masterson's theories and concepts regarding the Orogrande Basin.
  • In October 1984, McCabe formed McCabe Petroleum Corporation, which he owns and manages today.
  • We are extremely pleased he has agreed to join our board and bring his decades of oil and gas experience to Next Bridge."

Civitas Resources to Enter Permian Basin through Transformative Transactions

Retrieved on: 
Tuesday, June 20, 2023
Other Natural Resources, Environment, Oil, Gas, Alternative Energy, Natural Resources, Green Technology, Energy, Permian, Borrowing base, Heart, JPMorgan Chase, MDT, DJ, JP, Olympus, L.L.C, EDT, Share repurchase, Bank of America, Lea, Tap, Henry Hub, CIVI, WTI, Bank, NYSE, IRR, Potash, Security (finance), Delaware Basin, Civitas

The transactions will fundamentally transform Civitas into a stronger, more balanced, and sustainable enterprise with a deep inventory of high-return drilling opportunities in the heart of the Permian and DJ basins.

Key Points: 
  • The transactions will fundamentally transform Civitas into a stronger, more balanced, and sustainable enterprise with a deep inventory of high-return drilling opportunities in the heart of the Permian and DJ basins.
  • Civitas plans to hold a conference call to discuss the transactions at 6:30 a.m. MDT (8:30 a.m. EDT) on June 20, 2023.
  • Balanced portfolio maximizes capital allocation flexibility: Post close, Civitas will have a more balanced asset portfolio with basin and commodity diversity.
  • “These accretive and transformative transactions will immediately create a stronger, more balanced and sustainable Civitas,” said Chris Doyle, Civitas President & CEO.

Earthstone Energy Announces $1.0 Billion Delaware Basin Acquisition

Retrieved on: 
Thursday, June 15, 2023
Permian, Agreement, EnCap, Vinson & Elkins, Kirkland & Ellis, NOG, Sale, Public expenditure, NTM, Security (finance), Egyptian Natural Gas Holding Company, Hand, NYSE, EnCap Investments, Credit, Bank, Oil, Warehouse, Barrel of oil equivalent, Delaware Basin

In conjunction with the Novo Acquisition, Earthstone has secured $250 million of incremental commitments from existing lenders.

Key Points: 
  • In conjunction with the Novo Acquisition, Earthstone has secured $250 million of incremental commitments from existing lenders.
  • In 2022, we materially advanced our consolidation strategy, closing three accretive acquisitions totaling ~$2.0 billion, including two significant northern Delaware Basin asset acquisitions.
  • I am pleased that we are continuing to further our consolidation strategy with today’s announcement of the Novo Acquisition as we further build our northern Delaware Basin asset base.
  • The net result will be Earthstone having four rigs operating in the Delaware Basin and one in the Midland Basin post-closing.

Crestwood Publishes 2022 Sustainability Report Highlighting Authentic ESG Advancements

Retrieved on: 
Monday, June 5, 2023
Oil, Gas, Environmental, Social and Governance (ESG), Alternative Energy, Energy, Green Technology, Climate Change, Sustainability, Professional Services, Environmental Policy, Environment, Environmental Issues, Environmental Health, DEI (Diversity, Equity and Inclusion), Other Energy, Utilities, Total Recordable Incident Rate, Vista Equity Partners, Culture, MLP, Liability (financial accounting), Corporate communication, GHG, Carbon, TCFD, Delaware Basin, Task force, MSCI, Sustainability accounting, Institution, Acquisition, Sustainalytics, Bloomberg, GRI, Risk, Task Force on Climate Related Financial Disclosures, Sustainability Accounting Standards Board, Economic development, Methane, DEI, ESG, Safety, NYSE, Female, Renewable energy, Cryptocurrency, Management, Risk management

Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today the publication of its 2022 sustainability report, furthering its commitment to lead the MLP midstream industry in sustainability.

Key Points: 
  • Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today the publication of its 2022 sustainability report, furthering its commitment to lead the MLP midstream industry in sustainability.
  • Crestwood also highlights the achievements made in its second three-year sustainability strategy, initiated in January 2022, including deliverables achieved through its comprehensive carbon management plan.
  • "Crestwood proactively integrated ESG risks into our transaction underwriting process through the creation of a comprehensive ESG due diligence risk register.
  • Crestwood’s 2022 sustainability report has been prepared in accordance with the Global Reporting Initiative (GRI) 2021 Standards and is aligned with the Sustainability Accounting Standards Board (SASB) midstream reporting framework and TCFD.

NGL Energy Partners LP Announces Fourth Quarter and Full Year Fiscal 2023 Financial Results; Guidance for Fiscal 2024

Retrieved on: 
Wednesday, May 31, 2023
Other Transport, Rail, Maritime, Transport, Chemicals, Plastics, Utilities, Oil, Gas, Manufacturing, Energy, Borrowing base, Maintenance, Note, Liquid logistics, Loss, CMA, Bank statement, Fiscal, Record, Water & Solutions, NGL, GAAP, Delaware Basin, Central Time, Sale, Forecasting, Public expenditure, Partnership taxation in the United States, West Texas Intermediate, EBITDA, Acquisition, Annual report, Risk, Water, Form, WTI, Webcast, Argus, Depreciation, Security (finance), Bank, Bookkeeping, Partnership, Adjustment

In addition, for the quarter ended March 31, 2023, approximately 33,480 barrels of skim oil were stored and will be sold during fiscal year 2024.

Key Points: 
  • In addition, for the quarter ended March 31, 2023, approximately 33,480 barrels of skim oil were stored and will be sold during fiscal year 2024.
  • Operating income for the fourth quarter of Fiscal 2023 decreased by $12.6 million, compared to the same quarter in Fiscal 2022.
  • Excluding these amounts, operating income increased by $25.1 million for the fourth quarter of Fiscal 2023.
  • Operating income for the fourth quarter of Fiscal 2023 includes a loss from the disposal or impairment of assets of $10.2 million.

Enterprise Completes Expansion of Acadian Haynesville Extension

Retrieved on: 
Wednesday, May 31, 2023
Other Energy, Utilities, Oil, Gas, Energy, Chemicals, Plastics, Logistics, Supply Chain Management, Transport, Manufacturing, Atlas, Partner, Enterprise Products, University of Texas at El Paso, NGL, Risk, Delaware Basin, Natural gas, Growth, Security (finance), NYSE, EPD, Poseidon

Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced the completion of an expansion of its Acadian Haynesville Extension natural gas pipeline, the first of $3.8 billion of organic growth capital projects that are scheduled to be completed and begin service in 2023.

Key Points: 
  • Enterprise Products Partners L.P. (NYSE: EPD) (“Enterprise”) today announced the completion of an expansion of its Acadian Haynesville Extension natural gas pipeline, the first of $3.8 billion of organic growth capital projects that are scheduled to be completed and begin service in 2023.
  • This expansion adds approximately 400 million cubic feet per day of Haynesville natural gas takeaway capacity to meet growing industrial demand in the Mississippi River Corridor and supports the Louisiana liquefied natural gas (“LNG”) export market.
  • The expansion project added compression, increasing total natural gas transportation capacity on the Acadian Haynesville Extension from approximately 2.1 billion cubic feet per day (“Bcf/d”) to 2.5 Bcf/d.
  • “The expansion of the Acadian Haynesville Extension provides Haynesville producers with incremental natural gas takeaway capacity and provides additional supply to existing and new industrial developments in the Mississippi River Corridor and the growing Louisiana LNG export market,” said Natalie K. Gayden, senior vice president of Enterprise’s natural gas business.

NOG Announces Pricing of Public Offering of Common Stock

Retrieved on: 
Tuesday, May 16, 2023
Oil, Gas, Energy, Morgan Stanley, Vesey Street, Attention, Varick Street, The 8th Floor, Telephone, NOG, Delaware Basin, Sale, RBC Capital Markets, Acquisition, S-3, Offering, Form, Security (finance), Syndicate, NYSE, 2nd Floor

Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) announced today that it has priced its previously announced underwritten public offering of 6,650,000 shares of its common stock for gross proceeds of approximately $199.5 million (the “Offering”).

Key Points: 
  • Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) announced today that it has priced its previously announced underwritten public offering of 6,650,000 shares of its common stock for gross proceeds of approximately $199.5 million (the “Offering”).
  • The Company has granted the underwriters a 30-day option to purchase up to an additional 997,500 shares from the Company.
  • The Offering is expected to close on May 18, 2023, subject to the satisfaction of customary closing conditions.
  • The consummation of the Offering is not conditioned upon the completion of the Forge Acquisition and the consummation of the Offering is not a condition to the completion of the Forge Acquisition.

NOG Announces Public Offering of Common Stock

Retrieved on: 
Monday, May 15, 2023
Energy, Natural Resources, Mining, Minerals, Oil, Gas, Morgan Stanley, Vesey Street, Attention, Varick Street, The 8th Floor, Telephone, NOG, Delaware Basin, Sale, RBC Capital Markets, Acquisition, S-3, Offering, Form, Security (finance), Syndicate, NYSE, 2nd Floor

Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) announced today an underwritten public offering of 6,650,000 shares of its common stock (the “Offering”).

Key Points: 
  • Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) announced today an underwritten public offering of 6,650,000 shares of its common stock (the “Offering”).
  • Additionally, the Company has granted the underwriters a 30-day option to purchase up to an additional 997,500 shares from the Company.
  • The consummation of the Offering is not conditioned upon the completion of the Forge Acquisition and the consummation of the Offering is not a condition to the completion of the Forge Acquisition.
  • RBC Capital Markets and Morgan Stanley are acting as joint book-runners for the Offering.