American Oil and Gas Reporter - September 2020 - 100

pages 98-103_Layout 1 9/23/2020 10:47 AM Page 100

IndustryFocus: Companies, People and Products
HomeBound Resources
Acquires Permian Wells
IRVING, TX.-HomeBound Resources
LLC announces it has completed a $4.4
million acquisition in the Midland Basin.
The acquisition spans Lea County,
N.M. and the Texas counties Martin, Reagan, Glasscock and Midland, and includes
55 drilled wells and 106 acres of proven
undeveloped reserves with roughly 50 locations at varying depths, HomeBound
describes. The company says it has acquired
these assets at a significant discount to
their estimated pre-COVID-19 valuation.
"At HomeBound, we understand that
energy price fluctuations are inevitable
and try to price these events into our acquisitions." says Stefan Toth, the company's chief executive officer. "Our valueinvesting strategy helps position us in a
manner that can withstand volatility. Furthermore, with reduced demand brought
on by COVID-19, we have taken extra
measures to increase our storage capacity,
enabling us to continue production while
waiting for prices to rebound."
The acquisition was made on behalf of
an energy-focused investment fund, sponsored
by HomeBound and offered through Resolute
Capital Partners, that invests in productive
regions with oil and gas fields that are too
complex for small companies but not large
enough for many public companies. HomeBound estimates the acquisitions' average
lifting cost is below $15 per barrel.
For more information, visit www.hbresources.com or www.resolutecapitalpartners.com.
❒

SPOC Automation Ranks Among Inc.'s Fast 5000
TRUSSVILLE, AL.-For the third time,
SPOC Automation has been named to
the Inc. 5000, Inc. magazine's annual list
of the fastest-growing privately held companies in America.
"This is an honor for everyone at
SPOC," says Bobby Mason, the company's chief executive officer. "Our growth
is the direct result of the incredible work
and dedication of everyone on our team.
To have been named to this prestigious

Pelican Signs Agreement To Buy Baker Hughes Unit
HOUSTON-Pelican Energy Partners
LP reports it has agreed to purchase the
Surface Pressure Control Flow ("SPC
Flow") business unit of the oil field equipment segment of Baker Hughes.
Pelican is working with SPC Flow's
management team to carve out the business
unit as a stand-alone business wholly focused on providing pressure control products and services primarily in the United
States, but also in Australia, Papua New
Guinea and Trinidad and Tobago.
The business unit consists of wellhead
product sales and service as well as a
rental offering of frac trees, valves and
zipper manifolds, Pelican describes.
Baker Hughes will retain its surface
pressure control projects business, which
consists of surface and subsea products
in the Middle East, Africa, the North
Sea and Asia.
"This is an exciting opportunity, and
we are confident in our future as an independent company under Pelican's own-

Concho Publishes Report Outlining Emissions Cuts
MIDLAND-Concho Resources Inc.
has released its inaugural 2020 Sustainability Report, which the company says
details its environmental, social, governance and safety performance.
"At Concho, we strive to produce efficient and reliable energy, and we believe
our efforts contribute to improving quality
of life around the world," says Tim Leach,
the company's chairman and chief executive officer. "Our role in supplying a
competitive energy source is one we take
seriously, and sustainability is core to
our strategy and success. This inaugural
report demonstrates our progress and
commitment to advancing our sustainability initiatives, increasing transparency
of our performance and continuing a dialogue on these important matters."

list for the third time should make everyone on our team proud."
The list recognizes the fastest-growing
privately held companies based on percentage revenue growth over a three-year
period, SPOC says, noting that past winners
include such notable brands as Microsoft,
Timberland, Intuit, Oracle and Patagonia.
For more information, visit spocautomation.com or www.inc.com/inc5000/2020.
❒

According to the report, Concho reduced its methane emissions 60% in
2019, an accomplishment that has helped
the company cut its greenhouse gas intensity 25% since 2017. Concho flared
less than 2% of its gross gas production
last year and is closer to 1% so far in
2020, the company adds.
From 2018 to 2019, Concho increased
the volume of water it recycles by 70%,
the report says. The document also highlights the company's low safety incident
rate and commitment to employees,
noting it has been named a Great Place
to Work for five years in a row and received a Great Place to Work for diversity
in 2019.
To download the report, visit www.concho.com/sustainability.
❒

100 THE AMERICAN OIL & GAS REPORTER

ership," comments Rusty Justiss, SPC
Flow's vice president. "This transaction
allows us to go back to our roots, centered
around the legacy of Wood Group Pressure
Control. As a focused company with an
empowered and experienced workforce,
we will serve our customers even better."
❒

Basic Garners Top Ratings
For Customer Satisfaction
FORT WORTH-Basic Energy Services
Inc. was recognized with a top ranking
in customer satisfaction in EnergyPoint
Research's 2020 Oilfield Services Customer Satisfaction Survey. The company
rated first in workovers and well services,
as well as water management services.
This year's survey covered 33 companies, Basic says, making it the largest
since EnergyPoint began conducting the
annual survey in 2008.
"I am extremely proud of our employees for their longstanding commitment
to delivering safe, high-quality services
to our customers," says Keith Schilling,
the company's president and chief executive officer. "2020 marks the fifth year
running that we have achieved first place
ratings in multiple categories in the EnergyPoint Research survey. This recognition is a testament to the hard work our
people do every day to ensure we are the
trusted production services company in
the United States."
For more information, visit www.basices.com or energypointresearch.com.❒

Coming In October
Industry groups' ongoing efforts
for the industry.


http://spocautomation.com http://spocautomation.com http://www.inc.com/inc5000/2020 http://www.hb-resources.com http://www.hb-resources.com http://www.resolutecapitalpartners.com http://www.resolutecapitalpartners.com http://www.basices.com http://www.basices.com http://www.energypointresearch.com http://www.concho.com/sustainability http://www.concho.com/sustainability

American Oil and Gas Reporter - September 2020

Table of Contents for the Digital Edition of American Oil and Gas Reporter - September 2020

Contents
American Oil and Gas Reporter - September 2020 - Intro
American Oil and Gas Reporter - September 2020 - 1
American Oil and Gas Reporter - September 2020 - 2
American Oil and Gas Reporter - September 2020 - 3
American Oil and Gas Reporter - September 2020 - 4
American Oil and Gas Reporter - September 2020 - Contents
American Oil and Gas Reporter - September 2020 - 6
American Oil and Gas Reporter - September 2020 - 7
American Oil and Gas Reporter - September 2020 - 8
American Oil and Gas Reporter - September 2020 - 9
American Oil and Gas Reporter - September 2020 - 10
American Oil and Gas Reporter - September 2020 - 11
American Oil and Gas Reporter - September 2020 - 12
American Oil and Gas Reporter - September 2020 - 13
American Oil and Gas Reporter - September 2020 - 14
American Oil and Gas Reporter - September 2020 - 15
American Oil and Gas Reporter - September 2020 - 16
American Oil and Gas Reporter - September 2020 - 17
American Oil and Gas Reporter - September 2020 - 18
American Oil and Gas Reporter - September 2020 - 19
American Oil and Gas Reporter - September 2020 - 20
American Oil and Gas Reporter - September 2020 - 21
American Oil and Gas Reporter - September 2020 - 22
American Oil and Gas Reporter - September 2020 - 23
American Oil and Gas Reporter - September 2020 - 24
American Oil and Gas Reporter - September 2020 - 25
American Oil and Gas Reporter - September 2020 - 26
American Oil and Gas Reporter - September 2020 - 27
American Oil and Gas Reporter - September 2020 - 28
American Oil and Gas Reporter - September 2020 - 29
American Oil and Gas Reporter - September 2020 - 30
American Oil and Gas Reporter - September 2020 - 31
American Oil and Gas Reporter - September 2020 - 32
American Oil and Gas Reporter - September 2020 - 33
American Oil and Gas Reporter - September 2020 - 34
American Oil and Gas Reporter - September 2020 - 35
American Oil and Gas Reporter - September 2020 - 36
American Oil and Gas Reporter - September 2020 - 37
American Oil and Gas Reporter - September 2020 - 38
American Oil and Gas Reporter - September 2020 - 39
American Oil and Gas Reporter - September 2020 - 40
American Oil and Gas Reporter - September 2020 - 41
American Oil and Gas Reporter - September 2020 - 42
American Oil and Gas Reporter - September 2020 - 43
American Oil and Gas Reporter - September 2020 - 44
American Oil and Gas Reporter - September 2020 - 45
American Oil and Gas Reporter - September 2020 - 46
American Oil and Gas Reporter - September 2020 - 47
American Oil and Gas Reporter - September 2020 - 48
American Oil and Gas Reporter - September 2020 - 49
American Oil and Gas Reporter - September 2020 - 50
American Oil and Gas Reporter - September 2020 - 51
American Oil and Gas Reporter - September 2020 - 52
American Oil and Gas Reporter - September 2020 - 53
American Oil and Gas Reporter - September 2020 - 54
American Oil and Gas Reporter - September 2020 - 55
American Oil and Gas Reporter - September 2020 - 56
American Oil and Gas Reporter - September 2020 - 57
American Oil and Gas Reporter - September 2020 - 58
American Oil and Gas Reporter - September 2020 - 59
American Oil and Gas Reporter - September 2020 - 60
American Oil and Gas Reporter - September 2020 - 61
American Oil and Gas Reporter - September 2020 - 62
American Oil and Gas Reporter - September 2020 - 63
American Oil and Gas Reporter - September 2020 - 64
American Oil and Gas Reporter - September 2020 - 65
American Oil and Gas Reporter - September 2020 - 66
American Oil and Gas Reporter - September 2020 - 67
American Oil and Gas Reporter - September 2020 - 68
American Oil and Gas Reporter - September 2020 - 69
American Oil and Gas Reporter - September 2020 - 70
American Oil and Gas Reporter - September 2020 - 71
American Oil and Gas Reporter - September 2020 - 72
American Oil and Gas Reporter - September 2020 - 73
American Oil and Gas Reporter - September 2020 - 74
American Oil and Gas Reporter - September 2020 - 75
American Oil and Gas Reporter - September 2020 - 76
American Oil and Gas Reporter - September 2020 - 77
American Oil and Gas Reporter - September 2020 - 78
American Oil and Gas Reporter - September 2020 - 79
American Oil and Gas Reporter - September 2020 - 80
American Oil and Gas Reporter - September 2020 - 81
American Oil and Gas Reporter - September 2020 - 82
American Oil and Gas Reporter - September 2020 - 83
American Oil and Gas Reporter - September 2020 - 84
American Oil and Gas Reporter - September 2020 - 85
American Oil and Gas Reporter - September 2020 - 86
American Oil and Gas Reporter - September 2020 - 87
American Oil and Gas Reporter - September 2020 - 88
American Oil and Gas Reporter - September 2020 - 89
American Oil and Gas Reporter - September 2020 - 90
American Oil and Gas Reporter - September 2020 - 91
American Oil and Gas Reporter - September 2020 - 92
American Oil and Gas Reporter - September 2020 - 93
American Oil and Gas Reporter - September 2020 - 94
American Oil and Gas Reporter - September 2020 - 95
American Oil and Gas Reporter - September 2020 - 96
American Oil and Gas Reporter - September 2020 - 97
American Oil and Gas Reporter - September 2020 - 98
American Oil and Gas Reporter - September 2020 - 99
American Oil and Gas Reporter - September 2020 - 100
American Oil and Gas Reporter - September 2020 - 101
American Oil and Gas Reporter - September 2020 - 102
American Oil and Gas Reporter - September 2020 - 103
American Oil and Gas Reporter - September 2020 - 104
American Oil and Gas Reporter - September 2020 - 105
American Oil and Gas Reporter - September 2020 - 106
American Oil and Gas Reporter - September 2020 - 107
American Oil and Gas Reporter - September 2020 - 108
https://www.nxtbook.com/nxtbooks/aogr/202009
https://www.nxtbook.com/nxtbooks/aogr/202008
https://www.nxtbook.com/nxtbooks/aogr/202007
https://www.nxtbook.com/nxtbooks/aogr/202006
https://www.nxtbook.com/nxtbooks/aogr/202005
https://www.nxtbook.com/nxtbooks/aogr/202004
https://www.nxtbook.com/nxtbooks/aogr/202003
https://www.nxtbook.com/nxtbooks/aogr/202002
https://www.nxtbook.com/nxtbooks/aogr/202001
https://www.nxtbook.com/nxtbooks/aogr/201912
https://www.nxtbook.com/nxtbooks/aogr/201911
https://www.nxtbook.com/nxtbooks/aogr/201910
https://www.nxtbook.com/nxtbooks/aogr/201909
https://www.nxtbook.com/nxtbooks/aogr/201908
https://www.nxtbook.com/nxtbooks/aogr/201907
https://www.nxtbook.com/nxtbooks/aogr/201906
https://www.nxtbook.com/nxtbooks/aogr/201905
https://www.nxtbook.com/nxtbooks/aogr/201904
https://www.nxtbook.com/nxtbooks/aogr/201903
https://www.nxtbook.com/nxtbooks/aogr/201902
https://www.nxtbook.com/nxtbooks/aogr/201901
https://www.nxtbook.com/nxtbooks/aogr/201812
https://www.nxtbook.com/nxtbooks/aogr/201811
https://www.nxtbook.com/nxtbooks/aogr/201810
https://www.nxtbook.com/nxtbooks/aogr/pbios_201810
https://www.nxtbook.com/nxtbooks/aogr/201809
https://www.nxtbook.com/nxtbooks/aogr/201808
https://www.nxtbook.com/nxtbooks/aogr/201807
https://www.nxtbook.com/nxtbooks/aogr/201806
https://www.nxtbook.com/nxtbooks/aogr/201805
https://www.nxtbook.com/nxtbooks/aogr/201804
https://www.nxtbook.com/nxtbooks/aogr/201803
https://www.nxtbook.com/nxtbooks/aogr/201802
https://www.nxtbook.com/nxtbooks/aogr/201801
https://www.nxtbook.com/nxtbooks/aogr/201712
https://www.nxtbook.com/nxtbooks/aogr/201711
https://www.nxtbook.com/nxtbooks/aogr/201710
https://www.nxtbook.com/nxtbooks/aogr/201709
https://www.nxtbook.com/nxtbooks/aogr/201708
https://www.nxtbook.com/nxtbooks/aogr/201707
https://www.nxtbook.com/nxtbooks/aogr/201706
https://www.nxtbook.com/nxtbooks/aogr/201705
https://www.nxtbook.com/nxtbooks/aogr/201704
https://www.nxtbook.com/nxtbooks/aogr/201703
https://www.nxtbook.com/nxtbooks/aogr/201702
https://www.nxtbook.com/nxtbooks/aogr/201701
https://www.nxtbook.com/nxtbooks/aogr/201612
https://www.nxtbook.com/nxtbooks/aogr/201611
https://www.nxtbook.com/nxtbooks/aogr/201610
https://www.nxtbook.com/nxtbooks/aogr/pbios2016_programguide
https://www.nxtbook.com/nxtbooks/aogr/201609
https://www.nxtbook.com/nxtbooks/aogr/201608
https://www.nxtbook.com/nxtbooks/aogr/201607
https://www.nxtbook.com/nxtbooks/aogr/201606
https://www.nxtbook.com/nxtbooks/aogr/201605
https://www.nxtbook.com/nxtbooks/aogr/201604
https://www.nxtbook.com/nxtbooks/aogr/201603
https://www.nxtbook.com/nxtbooks/aogr/201602
https://www.nxtbook.com/nxtbooks/aogr/201601
https://www.nxtbook.com/nxtbooks/aogr/201512
https://www.nxtbook.com/nxtbooks/aogr/201511
https://www.nxtbook.com/nxtbooks/aogr/201510
https://www.nxtbook.com/nxtbooks/aogr/201509
https://www.nxtbook.com/nxtbooks/aogr/201508
https://www.nxtbook.com/nxtbooks/aogr/201507
https://www.nxtbook.com/nxtbooks/aogr/201506
https://www.nxtbook.com/nxtbooks/aogr/201505
https://www.nxtbook.com/nxtbooks/aogr/201504
https://www.nxtbook.com/nxtbooks/aogr/201503
https://www.nxtbook.com/nxtbooks/aogr/201502
https://www.nxtbook.com/nxtbooks/aogr/201501
https://www.nxtbook.com/nxtbooks/aogr/201412
https://www.nxtbook.com/nxtbooks/aogr/201411
https://www.nxtbook.com/nxtbooks/aogr/201410
https://www.nxtbook.com/nxtbooks/aogr/201409
https://www.nxtbook.com/nxtbooks/aogr/pbios2014_programguide
https://www.nxtbook.com/nxtbooks/aogr/201408
https://www.nxtbook.com/nxtbooks/aogr/201407
https://www.nxtbook.com/nxtbooks/aogr/201406
https://www.nxtbook.com/nxtbooks/aogr/201405
https://www.nxtbook.com/nxtbooks/aogr/201404
https://www.nxtbook.com/nxtbooks/aogr/201403
https://www.nxtbook.com/nxtbooks/aogr/201402
https://www.nxtbook.com/nxtbooks/aogr/201401
https://www.nxtbook.com/nxtbooks/aogr/201312
https://www.nxtbook.com/nxtbooks/aogr/201311
https://www.nxtbook.com/nxtbooks/aogr/201310
https://www.nxtbook.com/nxtbooks/aogr/201309
https://www.nxtbook.com/nxtbooks/aogr/201308
https://www.nxtbook.com/nxtbooks/aogr/201307
https://www.nxtbook.com/nxtbooks/aogr/201306
https://www.nxtbook.com/nxtbooks/aogr/201305
https://www.nxtbook.com/nxtbooks/aogr/201304
https://www.nxtbook.com/nxtbooks/aogr/201303
https://www.nxtbook.com/nxtbooks/aogr/201302
https://www.nxtbook.com/nxtbooks/aogr/201301
https://www.nxtbook.com/nxtbooks/aogr/201212
https://www.nxtbook.com/nxtbooks/aogr/201211
https://www.nxtbook.com/nxtbooks/aogr/201210
https://www.nxtbook.com/nxtbooks/aogr/201209
https://www.nxtbook.com/nxtbooks/aogr/2012_pbios
https://www.nxtbook.com/nxtbooks/aogr/201208
https://www.nxtbook.com/nxtbooks/aogr/201207
https://www.nxtbook.com/nxtbooks/aogr/201206
https://www.nxtbook.com/nxtbooks/aogr/201205
https://www.nxtbook.com/nxtbooks/aogr/201204
https://www.nxtbook.com/nxtbooks/aogr/201203
https://www.nxtbook.com/nxtbooks/aogr/201202
https://www.nxtbook.com/nxtbooks/aogr/201201
https://www.nxtbook.com/nxtbooks/demo/aogr_clone
https://www.nxtbook.com/nxtbooks/aogr/201112
https://www.nxtbookmedia.com