Enterprise Products To Buy Piñon Midstream -- Five Wells Coming Off Confidential List -- August 29, 2024

Locator: 48484B.

WTI: $74.78.

Friday, August 30, 2024: 74 for the month; 130 for the quarter, 454 for the year
None,

Thursday, August 29, 2024: 74 for the month; 130 for the quarter, 454 for the year
40471, conf, Oasis, Maverick Federal 5602 13-12 4B,
40418, conf, Oasis, Fossum 5301 43-35 4B,
39855, conf, Enerplus, Wildebeest 148-95-4A-16H,
39712, conf, Hess, TI-Larson-LE-157-85-2635H-1
39710, conf, Hess, TI-Larson-157-85-2536H-4,

RBN Energy: Enterprise to buy Piñon Midstream and its Dark Horse sour-gas system.

Enterprise Products Partners, already a leading provider of “well-to-water” or “well-to-market” midstream services out of the Permian, recently announced a deal to acquire private-equity-backed Piñon Midstream for $950 million in cash. But this isn’t just another bolt-on. Over the past few years, Piñon has been building out its one-of-a-kind Dark Horse system, which gathers and treats “sour” associated gas in a highly prolific, crude-oil-saturated part of the northern Delaware Basin and permanently sequesters the resulting hydrogen sulfide (H₂S) and carbon dioxide (CO₂) deep underground. In today’s RBN blog, we’ll discuss the impending Enterprise/Piñon acquisition, what Dark Horse does and how it gives Enterprise access to what may be the next hot production area in the Permian.