Halcon Buys Into Delaware, $705 Million -- Rigzone -- January 25, 2017

Link here. Data points:

• $705 million
• seller: Samson Exploration
• location: Pecos County, Texas
• 20,748 net acres
• also purchasing 15,040 net acres in Ward County, $11,000 / acre
• company says it picked up the Delaware acreage for "attractive price" of $20,000 / acre
• back-of-the-envelope: $20K is exactly right, and that's a great price for the Permian
• similar to Anadarko, Halcon is also selling all of its east Texas (Eagle Ford) acreage -- generates $500 million; buyer is Denver-based Hawkwood Energy
• comment: this confirms my theme that Eagle Ford has turned out to be less attractive than originally hyped

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More Pipeline News

In an earlier post, RBN Energy provided an in-depth look at Plains All American Pipeline buying ACC.  Now this from Rigzone:

• BridgeTex expansion
• Permian Basin to Houston Gulf Coast area; from Colorado City, TX, to Houston area
• Midstream Partners (50%) / Plains All American Pipeline, LP (50%)
• will be capable of shipping one-third more crude oil
• enhancing existing pumps, related equipment
• will increase capacity from 300,000 to 400,000 bopd
• a new origin point at Bryan, TX -- about 100 miles north of Houston -- will also enable BridgeTex to accept shipments from the Eaglebine (Eagle Ford) shale play 

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So, How's That Renewable Energy Working Out?

From SeekingAlpha:

• Sempra Energy's SoCalGas unit said yesterday that it had withdrawn natural gas from its Aliso Canyon storage facility for the first time since January a year ago to support the reliability of the region's gas and electricity systems as cold weather stressed its pipeline network
• SoCalGas has only limited access to fuel at Aliso Canyon following the massive methane leak from the facility during October 2015 through February 2016
• California agencies had said that SoCalGas could have difficulty meeting a forecast peak gas demand of 5.2B cf on the coldest days this winter without fuel from the facility

California needs to turn on their wind turbines; maybe they could use solar energy to turn the wind turbines faster.