#OilmanNEWS 2015 May-June Oklahoma 

Jericho Closes OK Acquisition

Jericho Oil Corp. has closed on its previously announced acquisition of a 50% working interest in 1,850 acres in northeastern Oklahoma. This transaction is the first acquisition for Jericho in Oklahoma and represents the emergence of its second platform. The asset brings Jericho’s total acreage position to 5,600 acres. Jericho will begin to assess and inventory the current infrastructure and… Read More
2015 May-June Oklahoma 

New Partner Joins Saddlehorn

A wholly owned subsidiary of Anadarko Petroleum Corp. has exercised its option to purchase a 20% equity interest in Saddlehorn Pipeline Co., resulting in the equity ownership in Saddlehorn at 40% Magellan Midstream Partners, 40% Plains All American Pipeline and 20% Anadarko. Saddlehorn is a limited liability company that will construct, own and operate the Saddlehorn pipeline, an approximately 550-mile… Read More
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2015 May-June Oklahoma 

Sanchez Engages Advisor for Possible Sale

Sanchez Production Partners (SPP) has engaged Lantana Energy Advisors to assist with the possible divestiture of SPP’s assets and operations in Oklahoma and Kansas. The assets considered for sale encompass the partnership’s operations and interests in the Cherokee Basin in Oklahoma and Kansas, the Woodford Shale in the Arkoma Basin in Oklahoma, and the Central Kansas Uplift in Kansas, which… Read More
2015 May-June Oklahoma 

OCC Issues Disposal Well Directives

The Oklahoma Corporation Commission’s (OCC) Oil and Gas Conservation Division (OGCD) has issued new directives to disposal well operators in Oklahoma as part of the continuing evolution of the agency’s induced seismicity traffic light system. Under the new directives, disposal well operators in areas of interest that inject into the Arbuckle formation had until April 18 to prove to the… Read More
2015 May-June Oklahoma 

Chesapeake Lowers 2015 Capital Budget

Chesapeake Energy has reduced its 2015 capital budget to $3.5 billion to $4.0 billion for 2015, which is a $500 million reduction from its previous guidance of $4.0 billion to $4.5 billion. “We entered 2015 with a strong liquidity position and we intend to manage it prudently,” Doug Lawler, CEO, Chesapeake, said in a statement. “In response to continued weak… Read More
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2015 May-June Oklahoma 

Independence Resources Management Targets Anakarko

Independence Resources Management plans to use a $500 million investment to focus on activity in the Anadarko Basin. Warburg Pincus, a global private equity firm focused on growth investing, has agreed to a line-of-equity investment of up to $500 million in Independence Resources Management. “We are excited to have the support of Warburg Pincus, especially in the present commodity price… Read More
2015 May-June Texas 

RRC Provides Testimony on Exports

The members of the Railroad Commission of Texas in early March provided invited testimony on U.S. trade policy and its impact on the energy industry in Texas and the U.S. during a joint meeting of the Texas House International Trade and Intergovernmental Affairs committees. Their testimony focused on proposed resolutions from the Texas legislature urging the U.S. Congress to end… Read More
2015 May-June Texas 

Texas O&G Paid Record Taxes in 2014

The Texas Oil and Gas Association (TXOGA) in February reported that the Texas oil and natural gas industry paid a record $15.7 billion in state and local taxes and royalties in 2014. According to the TXOGA’s new economic data, the oil and gas industry supports 41% of the Texas economy, up from 33% in the previous year. “Taxes and royalties… Read More

2015 May-June Texas 

Texas LNG Brownsville Seeks NEPA Review

Texas LNG in March asked the Federal Energy Regulatory Commission to initiate a National Environmental Policy Act pre-filing review of the company’s proposed Brownsville LNG project. Texas LNG has proposed building, owning and operating a 4 million tonne per annum (MTA) LNG facility on a 625-acre site in the Port of Brownsville, Texas. The company said that the facility will… Read More
2015 May-June Texas 

Rangeland Energy Secures Anchor Shipper

Rangeland Energy has executed a long-term agreement with a subsidiary of Delek US Holdings to be an anchor shipper of crude oil on the Rangeland Integrated Oil (RIO) Pipeline, which will connect production from the Delaware Basin to the crude oil market center in Midland, Texas. Delek Logistics Partners, which is the logistics arm of Delek US, will own 33%… Read More
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