Category: Oil & Gas

Ventana Exploration Receives Equity Capital to Continue Oklahoma Well Acquisitions

Oklahoma City-based Ventana Exploration and Production II recently received a new round of equity capital from an affiliate of Starwood Capital Group, Equity Group Investments and the Virginia Tech Foundation, according to a company press release issued on Monday. Ventana is in the business of acquiring non-operated oil and gas interests in Oklahoma. To date, the company has participated in more than 500 wells in the STACK/SCOOP/MERGE plays …

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Amplify Energy and Midstates Petroleum Announce All-Stock Merger, Houston Headquarters

Houston-based Amplify Energy Corp. and a subsidiary of Tulsa-based Midstates Petroleum Company, Inc. announced an all-stock merger, according to a press release issued on Monday. The combined company will maintain headquarters in Houston and trade on the New York Stock Exchange under the AMPY ticker. Ken Mariani, Amplify’s President and Chief Executive Officer, will remain …

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Jones Energy to Emerge From Chapter 11 Bankruptcy by May 17

  Texas-based Jones Energy, Inc. announced that its prepackaged Chapter 11 bankruptcy reorganization plan was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, according a company press release issued on Monday. As reported by OK Energy Today, Jones Energy initially filed for bankruptcy protection on April 3, 2019. Currently …

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Bayou Bridge Pipeline System Considering Service Connection From Northern States

Texas-based Energy Transfer LP and Phillips 66 Partners LP announced that its joint venture, Bayou Bridge Pipeline, LLC, recently launched a non-binding expansion open season to solicit shipper interest for expanded joint tariff transportation service received from certain connecting carriers onto the system. Bayou Bridge is evaluating joint tariff service from origin points in the …

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Lynn Bourdon Resigns From American Midstream

Houston-based American Midstream Partners LP announced the resignation of Lynn Bourdon III as Chairman, President and Chief Executive Officer effective May 3, 2019, according to a company press release. American Midsteam is in the process of being acquired by ArcLight Capital Partners, a private equity firm. The acquisition is expected to be finalized by the …

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ONEOK Announces $100 Million NGL Pipeline Extension in North Dakota

Tulsa-based ONEOK, Inc. plans to invest $100 million to construct a 75-mile natural gas liquids (NGL) pipeline lateral connecting the northern portion of the Bakken NGL Pipeline with a third-party natural gas processing plant in eastern Williams County, North Dakota, according to a company press release. The lateral is expected to be complete in the fourth …

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National Rig Count Plunges by 21, No Loss in Oklahoma Count

While Oklahoma’s oil and gas rig count remained steady at 102 this week, the national count plummeted by 21 to reach 991, with all but one being land rigs. Compared to a year ago, the U.S. count is 30 less than the 1,021 reported last year. Results from Baker Hughes Co. and the Independent Oil …

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Jason Pigott to Succeed Randy Foutch as President of Laredo Petroleum

Tulsa-based Laredo Petroleum Inc. announced Wednesday it has named Mikell “Jason” Pigott as its new president and company director. Pigott joins Laredo effective May 28. Pigott served as an executive vice president at Chesapeake Energy Corporation, where he oversaw operations and technical services. Prior to his employment with Chesapeake, Pigott worked for Anadarko Petroleum for …

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CenterPoint Energy Reports Annual Meeting Voting Results

Houston-based CenterPoint Energy, Inc. announced the results of shareholder voting at its 2019 Annual Meeting held on Thursday, according to a company press release. Shareholders approved the following three proposals: The election of Leslie D. Biddle, Milton Carroll, Scott J. McLean, Martin H. Nesbitt, Theodore F. Pound, Scott M. Prochazka, Susan O. Rheney, Phillip R. …

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Anadarko Petroleum Receives Offers From Chevron and Occidental

Chevron isn’t the only suitor interested in acquiring Texas-based Anadarko Petroleum Corp. It appears that Houston’s Occidental Petroleum Corp. has sweetened the deal, offering $76 per share, well over Chevron’s $65 per share. Here’s where the game of “connect the dots” gets interesting. Back in 2006, Anadarko Petroleum acquired Oklahoma City-based Kerr-McGee Corporation. A relationship …

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