Janie Snelson

‘Tis the Season for Midstream Deals and Decisions in the Permian Jingle bells are ringing this week in the Land of Oil and Gas A-plenty where midstream operators are already unwrapping holiday gifts. Reese Energy Consulting today is following the latest from the Permian, starting with Midland, Texas-based rockstars Kinetik Midstream and E&P Permian Resources. Kinetik, which in short order has become the Delaware’s largest independent gatherer and processor, operates 4,600+ miles of natural gas and crude oil pipe, and six gas plants with another under construction and another one planned. The company in 3Q reported $83.7 million in net income—a 94% increase year over year—and fattened its stake in Diamondback Energy’s EPIC crude pipeline to 27.5%. Kinetik will now further expand its “super system” in a $180 million bolt-on deal for Permian Resources’ Delaware oil and gas midstream assets. Kinetik gains 60,000 gross acres dedicated by Permian Resources under long-term, fixed-fee agreements that include 150 MMCFD and an estimated 250 MBPD next year, 250 MMCFD of compression, and natural gas processing. For its part, Permian Resources is sticking to its guns to remain the Delaware’s lowest-cost operator. This, after announcing a third consecutive increase to its full-year production targets and 160.8 MBPD announced in 3Q. Rock on, rockstars. Energy Transfer meanwhile has gifted Permian producers with a FID on the formerly named Warrior natural gas pipeline project. Now known as the Hugh Brinson, the 400-mile pipeline will flow an initial 1.5 BCFD from the Waha Hub to its pipeline connection south of Fort Worth. Phase I completion is expected by year end 2026 to be followed by Phase II which will increase capacity to 2.2 BCFD. Jingle all the way. What do you think? Learn more about REC and our range of midstream services at https://lnkd.in/ewhkGFa. For more info about our online natural gas training courses, visit us at https://lnkd.in/ggd3UkJM.  

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‘Tis the Season for Midstream Deals and Decisions in the Permian Jingle bells are ringing this week in the Land of Oil and Gas A-plenty where midstream operators are already unwrapping holiday gifts. Reese Energy Consulting today is following the latest from the Permian, starting with Midland, Texas-based rockstars Kinetik Midstream and E&P Permian Resources. Kinetik, which in short order has become the Delaware’s largest independent gatherer and processor, operates 4,600+ miles of natural gas and crude oil pipe, and six gas plants with another under construction and another one planned. The company in 3Q reported $83.7 million in net income—a 94% increase year over year—and fattened its stake in Diamondback Energy’s EPIC crude pipeline to 27.5%. Kinetik will now further expand its “super system” in a $180 million bolt-on deal for Permian Resources’ Delaware oil and gas midstream assets. Kinetik gains 60,000 gross acres dedicated by Permian Resources under long-term, fixed-fee agreements that include 150 MMCFD and an estimated 250 MBPD next year, 250 MMCFD of compression, and natural gas processing. For its part, Permian Resources is sticking to its guns to remain the Delaware’s lowest-cost operator. This, after announcing a third consecutive increase to its full-year production targets and 160.8 MBPD announced in 3Q. Rock on, rockstars. Energy Transfer meanwhile has gifted Permian producers with a FID on the formerly named Warrior natural gas pipeline project. Now known as the Hugh Brinson, the 400-mile pipeline will flow an initial 1.5 BCFD from the Waha Hub to its pipeline connection south of Fort Worth. Phase I completion is expected by year end 2026 to be followed by Phase II which will increase capacity to 2.2 BCFD. Jingle all the way. What do you think? Learn more about REC and our range of midstream services at https://lnkd.in/ewhkGFa. For more info about our online natural gas training courses, visit us at https://lnkd.in/ggd3UkJM.  

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Non-OPEC+ oil production is set to rise by 1M bpd in 2024 and 1.6M bpd in 2025, potentially leading to a surplus of 700,000 bpd by 2025. Brent crude prices could dip to $80/barrel. #OilMarket #OPEC #Energy

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Diamondback Energy stands as a premier independent oil producer in the U.S., boasting prime Permian acreage across the #Midland, #Delaware, and #Central #Basin. Last year's production hit 263,000 bbl/d, with a projected 2024 full-year guidance of 275,000 bbl/d. February saw Diamondback's announcement of a $26 billion merger with Endeavor Energy Resources, LP, expanding their net #Permian acreage to 838,000 and potentially elevating combined production to 816,000 bbl/d. Don't miss this operator spotlight featuring Kaes Van't Hof, President and CFO of Diamondback Energy, where you'll gain insights on: • The Endeavor merger's strategic benefits from an insider's perspective. • Analysis of the merger's implications for Diamondback. • Diamondback's operational roadmap for 2024 and beyond. • Potential future M&A prospects. Register now to secure your spot! https://ow.ly/wjsF50R9uVa #SUPERDUG24

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Permian Resources announces $818mm bolt-on acquisition from Oxy - Permian Resources Corporation announced a definitive agreement to purchase approximately 29,500 net acres and 9,900 net royalty acres in the Delaware Basin from Occidental for $817.5 million. - The acquisition, effective July 1, 2024, is expected to close by the end of Q3 2024. - The deal includes substantial midstream assets, such as over 100 miles of pipelines and a robust water infrastructure system. - The purchased assets are attractively valued at about 3.4 times the 2025 estimated EBITDAX and have a 17% free cash flow yield. - The acquisition is expected to be accretive to cash flow per share, free cash flow per share, and net asset value per share. - The company plans to maintain leverage of approximately 1 times net debt-to-EBITDAX post-acquisition, financing through a mix of equity and debt. - Over 200 gross operated, two-mile locations with high net revenue interests are included in the acquired acreage. - Management emphasized the synergy potential of the acquisition, citing it as a natural fit to enhance operational efficiency. - The acquired assets are predominantly located in Reeves County, Texas, and have minimal future drilling requirements. - Permian Resources anticipates starting development on the newly acquired properties in Q4 2024, expecting production of around 15 MBoe/d. - The infrastructure also allows for future growth and third-party volume accommodation, which offers operational flexibility. - As of the second quarter of 2024, the company estimates average daily oil production volumes between 152.1 and 153.6 MBbls/d. https://lnkd.in/gQWEDpx7

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More Smokin’ Hot Deals to Be Had in the Lone Star State  Reese Energy Consulting today is following the latest buzz from the nation’s largest oil-producing state where the Texas horse trading continues among midstreamers and Eagle Ford producers. First up is Houston-based Phillips 66 (PSX), which operates a midstream powerhouse with 72,000 miles of crude oil, natural gas, and NGL pipelines, along with fractionation and gas processing—all of which serve its diverse business segment to include chemicals and refining. After a years’ long JV courtship, PSX last year acquired DCP Midstream for $3.8 billion to further beef up its NGL business following record fractionated volumes and growing export demand. The company will now add even more meat to its NGL bones in the Permian Midland with the pick-up of Pinnacle Midstream II LLC for $550 million. The deal includes the Dos Pico processing complex with 220 MMCFD of capacity, ample space for a second 220 MMCFD gas plant, and 80 miles of pipeline. In short order Houston-based WildFire Energy LLC has shrewdly executed its pure-play South Texas strategy to create the largest consolidated acreage position in the Eagle Ford. The company has now landed its fourth acquisition in three years, this time in a deal with Apache Corporation. The price was not disclosed but wraps up Apache’s non-core asset sale that fetched a total $750 million. Wildfire will gain 237,000 net acres, 11 MBOED, and interests in 465 wells. Pro forma, the company will operate 850,000 net acres, 50 MBOED, and more than 2,000 gross wells. What do you think? Learn more about REC and our crude oil, natural gas, and NGL consulting services at https://lnkd.in/ewhkGFa.

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More Smokin’ Hot Deals to Be Had in the Lone Star State Reese Energy Consulting today is following the latest buzz from the nation’s largest oil-producing state where the Texas horse trading continues among midstreamers and Eagle Ford producers. First up is Houston-based Phillips 66 (PSX), which operates a midstream powerhouse with 72,000 miles of crude oil, natural gas, and NGL pipelines, along with fractionation and gas processing—all of which serve its diverse business segment to include chemicals and refining. After a years’ long JV courtship, PSX last year acquired DCP Midstream for $3.8 billion to further beef up its NGL business following record fractionated volumes and growing export demand. The company will now add even more meat to its NGL bones in the Permian Midland with the pick-up of Pinnacle Midstream for $550 million. The deal includes the Dos Pico processing complex with 220 MMCFD of capacity, ample space for a second 220 MMCFD gas plant, and 80 miles of pipeline. In short order Houston-based WildFire Energy LLC has shrewdly executed its pure-play South Texas strategy to create the largest consolidated acreage position in the Eagle Ford. The company has now landed its fourth acquisition in three years, this time in a deal with Apache Corporation. The price was not disclosed but wraps up Apache’s non-core asset sale that fetched a total $750 million. Wildfire will gain 237,000 net acres, 11 MBOED, and interests in 465 wells. Pro forma, the company will operate 850,000 net acres, 50 MBOED, and more than 2,000 gross wells. What do you think? Learn more about REC and our crude oil, natural gas, and NGL consulting services at https://lnkd.in/ebXT2mS. #energy #midstream #naturalgas #ngls #gasprocessing #reeseenergyconsulting

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Increase sales by targeting high value accounts - Oilgasleads marketing lists include Midland Basin – is one of the two primary basins within the larger Permian Basin, a significant sedimentary basin located in the southwestern United States. The account list includes 167 Oil & Gas Operators. Delaware Basin – spans parts of West Texas and southeastern New Mexico. It is adjacent to the Midland Basin, which is the other primary sub-basin within the Permian Basin. The account list includes 173 Oil & Gas Operators. Eagle Ford Shale – is a significant unconventional oil and gas play located in South Texas, United States. The account list includes 117 Oil & Gas Operators. Haynesville Shale – is a significant oil and natural gas play in the United States, located primarily in the Gulf Coast region, covering parts of Louisiana, Texas, and Arkansas. The account list includes 78 Oil & Gas Operators. https://lnkd.in/gRsXjhN5

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With money being expensive, high ROI & IRR projects are in demand. Check out EAG's recent study on ReFracs in the Haynesville.

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The Texas Oil and Gas Association reported a significant increase of 4,500 upstream jobs in March, the highest monthly growth since June 2011. Since September 2020, the industry has added 39,500 upstream jobs, averaging 940 jobs per month, with salaries averaging over $124,000 annually. This job growth supports Texas communities, U.S. energy security, and global stability.

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Texas Oil & Gas Operators account list contains company name, address, location, website and drilling activity summary…. must have marketing tool Midland Basin – is one of the two primary basins within the larger Permian Basin, a significant sedimentary basin located in the southwestern United States. The account list includes 167 Oil & Gas Operators. Delaware Basin – spans parts of West Texas and southeastern New Mexico. It is adjacent to the Midland Basin, which is the other primary sub-basin within the Permian Basin. The account list includes 173 Oil & Gas Operators. Eagle Ford Shale – is a significant unconventional oil and gas play located in South Texas, United States. The account list includes 117 Oil & Gas Operators. Haynesville Shale – is a significant oil and natural gas play in the United States, located primarily in the Gulf Coast region, covering parts of Louisiana, Texas, and Arkansas. The account list includes 78 Oil & Gas Operators. https://lnkd.in/gRsXjhN5

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Permian Basin powers on amid industry challenges! ⚡ The Permian Basin is producing over 6 million barrels of oil per day, but the rig count has dropped by 39 since last year, reflecting industry pressures. Stephen Robertson of the Permian Basin Petroleum Association highlights the need for better infrastructure to support continued growth and efficiency in oil production. Despite challenges, the Permian Basin remains a crucial energy source with significant untapped potential. 🛢️📉 Read more: https://lnkd.in/gQRRSyng #PermianBasin #OilProduction #EnergyIndustry #Infrastructure #RigCount #TechInnovation #OilAndGas #IndustryChallenges #EnergyEconomy #FutureOfEnergy #WestTexas #BreakingNews

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Permian Basin powers on amid industry challenges! ⚡ The Permian Basin is producing over 6 million barrels of oil per day, but the rig count has dropped by 39 since last year, reflecting industry pressures. Stephen Robertson of the Permian Basin Petroleum Association highlights the need for better infrastructure to support continued growth and efficiency in oil production. Despite challenges, the Permian Basin remains a crucial energy source with significant untapped potential. 🛢️📉 Read more: https://lnkd.in/gQRRSyng #PermianBasin #OilProduction #EnergyIndustry #Infrastructure #RigCount #TechInnovation #OilAndGas #IndustryChallenges #EnergyEconomy #FutureOfEnergy #WestTexas #BreakingNews

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Permian Basin powers on amid industry challenges! ⚡ The Permian Basin is producing over 6 million barrels of oil per day, but the rig count has dropped by 39 since last year, reflecting industry pressures. Stephen Robertson of the Permian Basin Petroleum Association highlights the need for better infrastructure to support continued growth and efficiency in oil production. Despite challenges, the Permian Basin remains a crucial energy source with significant untapped potential. 🛢️📉 Read more: https://lnkd.in/gQRRSyng #PermianBasin #OilProduction #EnergyIndustry #Infrastructure #RigCount #TechInnovation #OilAndGas #IndustryChallenges #EnergyEconomy #FutureOfEnergy #WestTexas #BreakingNews

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Permian Basin powers on amid industry challenges! ⚡ The Permian Basin is producing over 6 million barrels of oil per day, but the rig count has dropped by 39 since last year, reflecting industry pressures. Stephen Robertson of the Permian Basin Petroleum Association highlights the need for better infrastructure to support continued growth and efficiency in oil production. Despite challenges, the Permian Basin remains a crucial energy source with significant untapped potential. 🛢️📉 Read more: https://lnkd.in/gQRRSyng #PermianBasin #OilProduction #EnergyIndustry #Infrastructure #RigCount #TechInnovation #OilAndGas #IndustryChallenges #EnergyEconomy #FutureOfEnergy #WestTexas #BreakingNews

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Permian Basin powers on amid industry challenges! ⚡ The Permian Basin is producing over 6 million barrels of oil per day, but the rig count has dropped by 39 since last year, reflecting industry pressures. Stephen Robertson of the Permian Basin Petroleum Association highlights the need for better infrastructure to support continued growth and efficiency in oil production. Despite challenges, the Permian Basin remains a crucial energy source with significant untapped potential. 🛢️📉 Read more: https://lnkd.in/gQRRSyng #PermianBasin #OilProduction #EnergyIndustry #Infrastructure #RigCount #TechInnovation #OilAndGas #IndustryChallenges #EnergyEconomy #FutureOfEnergy #WestTexas #BreakingNews

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Texas Account List Bundle includes oil & gas companies in the for following plays. Midland Basin – is one of the two primary basins within the larger Permian Basin, a significant sedimentary basin located in the southwestern United States. The account list includes 167 Oil & Gas Operators. Delaware Basin – spans parts of West Texas and southeastern New Mexico. It is adjacent to the Midland Basin, which is the other primary sub-basin within the Permian Basin. The account list includes 173 Oil & Gas Operators. Eagle Ford Shale – is a significant unconventional oil and gas play located in South Texas, United States. The account list includes 117 Oil & Gas Operators. Haynesville Shale – is a significant oil and natural gas play in the United States, located primarily in the Gulf Coast region, covering parts of Louisiana, Texas, and Arkansas. The account list includes 78 Oil & Gas Operators. https://lnkd.in/gRsXjhN5

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