Re affirmed in HSD early termination PR
"This combination will result in Breitburn becoming the largest, oil-weighted upstream oil and gas master limited partnership with a pro forma enterprise value of approximately $7.8 billion and current average daily production of approximately 57,300 boe/d. "
I doubt it. Will hurt there day to day workings within the state of CA bureaucracy that they seem to have some relations with.
they also said they were "exploring" the Utica shale
“We are adding highly attractive exploration acreage, where we have impressive well results in the Utica,..."
Shell indicated in press release where they sold another $2.1 b in shale assets in addition to Rex they "retained exploration acreage in Utica" whatever that means
From GS Aug 12 pipeline,etc conference
Leverage Devon Energy sponsorship for growth
•Potential additional cash flow from dropdowns: ~$375 MM by 2017
•Serve Devon E&P portfolio in its growth areas
see detailed post under "Rex acquires 208,000 acres from Shell..."
572,800 acres (895 sq miles) dedicated to MWE by Rex
MarkWest Energy Partners Announces Acquisition of Keystone Midstream Services in Liquids Rich Area of Marcellus Shale, Extension of its NGL Gathering Network, and Utica Shale Letter Agreement
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DENVER--(BUSINESS WIRE)--May. 7, 2012-- MarkWest Energy Partners, L.P. (MarkWest) today announced that it is acquiring 100% of the ownership interests of Keystone Midstream Services, LLC (Keystone), for consideration of $512 million. The transaction is expected to close during the second quarter of 2012.
Keystone is owned by Stonehenge Energy Resources, LP, and affiliates of Rex Energy Corporation (Rex Energy) (NASDAQ: REXX) and Sumitomo Corporation (Sumitomo). Keystone’s existing assets are located in Butler County, Pennsylvania and include two cryogenic gas processing plants totaling 90 million cubic feet per day (MMcfd) of capacity, a gas gathering system and associated field compression. Rex Energy and Sumitomo have dedicated an 895 square mile area to MarkWest. To date they have jointly leased 68,400 highly prospective acres in Butler County, an acreage position that continues to grow. MarkWest will gather and process the rich gas and fractionate the NGLs under long-term fee-based agreements.
with bluestone frac plant and purity ethane lines into mariner operating, I would suggest give mwe the better position for liquids in the eastern pa counties
Additional expected production of ~13 MMcf/d available from wells in various stages of development
Large contiguous acreage position in dry gas Utica area provides for future development program
Infrastructure and takeaway capacity agreements in place (~80 MMcf/d of firm transportation at attractive pricing) allow for full-scale development of newly acquired assets
Attractive acquisition value metrics on both a per acre and per location basis
Over 65% of acreage has leases with options to extend; remaining acreage is either held by operations or has manageable lease expirations
Planning to add 1-2 rigs in 2015 to the newly acquired acreage
Provides a platform for future strategic expansion
Rex Energy Announces Significant Acquisition in Its Butler Operated Area
Rex Energy Corporation 3 hours ago GlobeNewswire
STATE COLLEGE, Pa., Aug. 12, 2014 (GLOBE NEWSWIRE) -- Rex Energy Corporation ("Rex Energy") (REXX) today announced the acquisition of approximately 208,000 gross (207,000 net) acres in the company's Butler Operated Area.
Rex Energy has entered into a definitive purchase agreement with SWEPI, LP, an affiliate of Royal Dutch Shell, plc ("Shell") to acquire a 100% interest in approximately 208,000 gross (207,000 net) acres prospective for the Marcellus, Upper Devonian/Burkett and Utica Shales in Pennsylvania and Ohio for approximately $120 million in cash, subject to customary closing adjustments. The transaction is expected to close in September 2014.
The assets to be acquired are located in Armstrong, Beaver, Butler, Lawrence, Mercer and Venango counties in Pennsylvania and Columbiana and Mahoning counties in Ohio. The additional acreage, combined with recent leasing, will bring Rex Energy's position in its Butler Operated Area to approximately 298,000 gross acres.
~ 208,000 gross acres, representing a ~230% expansion of its current Butler Operated Area and ~200% expansion of its current Appalachian Basin assets; large contiguous acreage position adjacent to existing Butler Operated Area
Acquiring ~100% working interest and ~ 83% net revenue interest
Acquisition and future bolt-on leasing expected to position the Company for a multi-year development plan of approximately 400 potential liquids-rich drilling locations (~241 liquids-rich locations at closing) on 750 foot spacing between laterals, or an immediate increase of approximately 24% over existing identified liquids-rich locations.
Assets include ~16 MMcf/d either currently producing or available to produce with minimal capital investment; estimated proved reserves of ~ 21 Bcfe from these wells
tax consequences of kmi combo can be big for kmp holders, so sale or hold could be a push -see yahoo etp board or investorviallge mlp board
chrx, mwe "alone" does not seem to be in that business. maybe in jv with summit/. why not alone does not fit the gathering in nw WV they sold to to crestwood. rrc if not to a mwe jv maybe alone to crestwood or summit or eqt
see article at investorvillage mlp board
thanks ny. i think it is healthy to hear many view points and your are always well taken
fyi to those who do not follow the ETE grouping
"..For the second quarter 2014, Regency generated $207 million in distributable cash flow. Excluding the units issued to fund the Eagle Rock midstream acquisition, which closed July 1, 2014, coverage would have been 1.08 times the amount required to cover its announced distribution to unitholders. Including the units issued to fund the Eagle Rock midstream acquisition, coverage was 1.01 times...."
"... For the quarter ended June 30, 2014, ETP’s distribution coverage ratio was 1.10x."
"...Distribution coverage ratio of 1.65x for the six months ended June 30, 2014."
"... ETE’s distribution coverage ratio was 1.06x for the quarter."
Susp (soon to be member)
distributable cash flow of $13.7 million for the quarter and reflects a distribution coverage ratio of 1.19 times.