Posted on March 9, 2022
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It’s impossible to ignore the 24-hour news faucet running full blast from the Russian-Ukrainian conflict and its impact on global energy markets. The U.S. now has officially banned Russian oil imports and the nation’s leader is ostensibly “off to Texas” to privately meet with producers. Would kill to be a fly on that wall. But rather than opining, risk repeating what you already know, or adding to the general morass, Reese Energy Consulting today is looking at recent headlines on the domestic front that may have escaped attention. With oil prices surging, there’s renewed fire in the belly in the Bakken. Thousands of oilfield jobs are waiting to be filled as producers restart idled wells. Denver-based Whiting Petroleum and Houston-based Oasis Petroleum—both of which declared bankruptcy in 2020—will now combine in a merger of equals to become one of the largest Bakken producers with 972,000 net acres, 167.8 MBOEPD, and an enterprise value...

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Posted on August 18, 2020
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Take Me to the River Reese Energy Consulting today is following the latest news from La.-based Plaquemines Port Harbor, which has signed an exclusive letter of intent with American Patriot Holdings (APH) to develop a new state-of-the-art container terminal. Once completed, the Gateway Port on the Gulf will offer a needed connection for inland container imports and exports but maybe the marine vessels to service the terminal are the real cool dog here. APH has designed container ships powered by LNG that the company says will revolutionize an industry in need of more infrastructure and emissions reduction. Freight volumes along the nation’s inland waterways are expected to increase 40% in the next 30 years. APH’s larger Liner ships will be capable of servicing the Mississippi River as far north as St. Louis. The smaller Hybrid vessels will transport cargoes from inland ports along tributary rivers. Using LNG propulsion, a no-wake bow,...

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Posted on August 12, 2020
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The battle to win mineral rights and a spread of land bigger than the size of Conn., is on like Donkey Kong in Wyo. Governor Mark Gordon is in a bare-knuckle race to emerge the victor in a bid for five million acres in Wyo., Colo., and Utah owned by Houston-based Occidental Petroleum. Problem is, after an extensive campaign to bring home the prize and three weeks of radio silence from Oxy, Wyo., now has learned its bid fell short for a “once-in-a-generation opportunity” to generate more investment revenue and keep state taxes low. Thirteen bidders have stepped forward to snatch up Oxy’s assets in The Rockies—a part of the company’s acquisition of Anadarko Petroleum last year. The company says it’s negotiating with a bidder, although nothing takes ink until the greenbacks and bona fides slap the table. Should Wyo., ultimately win the bid, the acquisition would rank as the...

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Posted on August 11, 2020
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The Bureau of Land Management has given its blessing for the development of as many as 4,250 oil and gas wells in central Wyo.’s Wind River Basin. The Moneta Divide project, led by private investment firm Aethon Energy and ConocoPhillips’ subsidiary Burlington Resources, includes private, state, and federal lands across 327,645 acres in the central part of the state. Roughly two-thirds of those are managed by BLM. The operators expect to drill about 325 new wells every year during a 15-year development period and estimate recovery of 18.16 TCF of gas and 254 MMBbls of oil over the project’s 65-year lifespan. The BLM’s Record of Decision, however, doesn’t authorize any on-ground activity and each well will require review and approval as part of the drilling permit process. Aethon in 2015 acquired 188,000 net acres also located in the Wind River from Encana. What do you think? Learn more about Reese...

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Posted on June 3, 2020
Energy

If you’re looking to sell a vintage Schwinn or snap up a first-edition Harry Potter, you’d probably head right over to an online auction house, place your bid and keep your fingers crossed. But if oil and gas assets are more your game, Amarillo, Texas-based EnergyNet is your destination. ...

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Posted on May 27, 2020
Energy

Reese Energy Consulting last week shared a profile of Diversified Gas and Oil and its CEO Rusty Hutson, whose focus on drilling older wells with high production volumes has led the company to become one of the largest gas players in the Appalachia region. Ala.-based DGO, which operates 60,000 wells and 12,000 miles of gas gathering pipelines in six states, got a little bigger today with the announcement of two acquisitions. ...

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