Ukraine: "we can live with a minor incursion." -- Biden over at social media.
Chesapeake Energy: another acquisition. Nears $2.4 billion deal to buy Chief Oil & Gas.
EPD: The Motley Fool.
Ken Fisher: ten dividend stocks. A lot of ads to navigate but worth a look.
UNP: jumps. Whoo-hoo.
Baker Hughes: 4Q21 and FKY21 earnings.
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Back to the Bakken
Active rigs:
| $86.70 | 1/20/2022 | 01/20/2021 | 01/20/2020 | 01/20/2019 | 01/20/2018 |
|---|---|---|---|---|---|
| Active Rigs | 28 | 12 | 56 | 68 | 58 |
Friday, January 21, 2022: 35 for the month, 35 for the quarter, 35 for the year
- 37336, conf, Whiting, Miller 44-10TFHU, Sanish, nice well, but not all that great for the Sanish; first production, 8/21; t--; cum 30K 11/21;
Thursday, January 20, 2022: 34 for the month, 34 for the quarter, 34 for the year
- 38353, conf, CLR, Bice FIU 11-32HSL1, Chimney Butte, scout ticket no updated, 11/21;
- 38352, conf, CLR, Bice FIU 10-32H, Chimney Butte, scout ticket not updated, 11/21;
RBN Energy: Enterprise expands into midland gas processing with Navitas deal, part 3. Archived.
The energy market dislocations of the COVID era have accelerated consolidation in the midstream sector as oil and gas gatherers — and gas processors — in the Permian and other basins seek greater scale, improved reliability, and the potential to direct more hydrocarbons through their takeaway pipelines. New evidence of this trend came just last week, when Enterprise Products Partners announced it has agreed to acquire privately held Navitas Midstream Partners, a fast-growing gas gatherer and processor in the Permian’s Midland Basin, for $3.25 billion. As we discuss in today’s RBN blog, the acquisition will give Enterprise its first gas gathering and processing assets in the heart of the Midland and may boost volumes on its residue-gas and NGL pipelines there.
As we said in part one of this blog series, there has been a flurry of large-scale M&A activity in the midstream sector since the start of the pandemic — and the collapse and subsequent recovery of oil and gas markets — back in 2020. There has been a common theme among these deals, namely that midstreamers were scaling back capital spending and instead focusing on improving the efficiency of existing operations by teaming with others that held adjoining, complementary assets — or that gave the acquiring firm a strong foothold in a highly desirable production area.
We also discussed the plan by Crestwood Equity Partners to acquire Oasis Midstream, a combination that will give Crestwood more scale and sway in both the Bakken and the Permian’s Delaware Basin. In Part 2, we looked at the planned merger of Altus Midstream and BCP Raptor Holdco LP, the corporate parent of EagleClaw Midstream. That deal, which like the Crestwood-Oasis Midstream combination is expected to close in the first quarter of 2022, will form the largest integrated midstream company in the Delaware Basin, with an extensive network of crude, gas, and produced water gathering systems, about 2 Bcf/d of gas processing capacity, and ownership interests in four recently completed takeaway pipelines.
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