Trophy Pipeline, LLC today announced it intends to conduct an Open Season for its Texas Expansion project. Trophy proposes to construct an approximately three mile long pipeline from a new origin located in Winkler County, Texas to its existing FERC regulated, crude oil pipeline located in Lea County, New Mexico.
Trophy Pipeline, LLC Announces Open Season for Texas Expansion Project
Washington Crossing Field Services Announces Open Season
Washington Crossing Field Services, LLC (WCFS) today announced it intends to conduct an Open Season for the Trophy Pipeline, a new FERC regulated, crude oil pipeline to be located in Lea County, New Mexico to multiple long-haul takeaway pipelines, including, but not limited to, Plains Pipeline, L.P., Oryx Southern Delaware Oil Gathering and Transport LLC and Salt Creek Midstream, LLC. The Trophy Pipeline will have the capacity to accept 50,000 barrels per day of crude oil from numerous lease tank batteries and other field receipt points in the northern Delaware Basin.
Ameredev II, LLC announced the closing of an equity commitment of $400 million from EnCap Investments, L.P.
Ameredev II, LLC announced the closing of an equity commitment of $400 million from EnCap Investments, L.P. (“EnCap”) and members of Ameredev management. Ameredev is an Austin-based exploration and production company focused on the acquisition and development of oil and gas resources in the United States. The Company is led by a multi-disciplined management team with a track record of value creation through commercial and operational excellence – most recently demonstrated by its $633 million sale of Core Southern Delaware Basin assets to Callon Petroleum Company.
Callon Petroleum Company Announces Closing of Core Delaware Basin Acquisition
Callon Petroleum Company announced the closing of its previously announced acquisition of oil and natural gas assets in the southern Delaware Basin from American Resource Development LLC. On February 13, 2017, the Company completed the acquisition of approximately 16,700 net surface acres in Ward and Pecos Counties, Texas, comprised of an initially disclosed amount of 16,098 net acres and an incremental 590 net acres acquired between signing and closing of the transaction that are either within or contiguous to the Ward County footprint. Inclusive of the incremental acreage and the purchase of the midstream assets of Ameredev Midstream Development LLC, total cash consideration paid for the acquisition was $633 million, subject to customary purchase price adjustments.
American Resource Development LLC Announces Equity Commitment of $250 million from EnCap Investments, L.P.
Ameredev is an Austin-based exploration and production company focused on the acquisition and development of oil and gas properties in the Permian Basin. The Ameredev management team is comprised of former employees of Three Rivers Operating Company, Cimarex Energy Co., and Concho Resources, Inc. and has a combined $23 billion of M&A and $2.2 billion of E&D capital investment experience. Parker Reese, Ameredev President and CEO said, “We are excited to be partnering with a firm with a history of generating exceptional returns that shares our focus on capital preservation, relationships, and having a balanced commercial and technical perspective.