American Oil and Gas Reporter - September 2021 - 20

IndustryDigest
high-return Eagle Ford and Austin
Chalk locations, as well as incremental
working interest in producing
wellbores, in our La Mesa position.
Today's announcement expands our gas
portfolio in the western Eagle Ford,
while also adding oil acreage in three
new counties. "
The company says it expects to close
the transaction around Oct. 1. ❒
U.S. Energy, Atlantic
Partner In The Permian
ARLINGTON, TX.-U.S. Energy
Development Corp. reports it has
entered a joint venture with Midlandbased
Atlantic Energy Partners LLC to
develop and operate three horizontal
wells within the Permian Basin in Ward
County, Tx.
" This joint venture comes at an ideal
time as we expand our footprint in the
Permian Basin and the market continues
to recover from COVID-19 with the
drilling of new wells, " says U.S. Energy
Chief Executive Officer Jordan Jayson.
" We look forward to working with the
Atlantic team on this project in the Rio
Hondo area and to returning exceptional
value to our investors. "
U.S. Energy projects the three
wells, which target oil producing zones
in the Wolfcamp Shale, will come on
line in the first quarter of 2022 and
carry a total project development cost
of approximately $28 million. During
the past year, U.S. Energy says its
Permian Basin activity has included
closing on $86 million in projects, and
the firm has expressed plans to invest
more than $150 million during the next
12 months.
extend laterals from our existing
leasehold that should result in increased
economics and capital efficiency. " ❒
❒
Surge Energy America
Buys Bolt-On Properties
HOUSTON-Surge Energy U.S.
Holdings Co. subsidiary Moss Creek
Resources Holdings Inc. has acquired
leasehold interest and wells from
Apache Corp. in Howard County, Tx.,
for an aggregate purchase price of
$37.5 million.
According to Surge, the acquired
assets include:
· Approximately 4,000 net
leasehold acres (100% held by
production) adjacent to Surge's existing
leasehold in Howard County;
· Approximately 800 net barrels of
oil equivalent a day of production;
· Saltwater disposal infrastructure;
and
· Approximately 14 net drilling
locations, primarily through increased
lateral lengths and working interests.
" This acquisition is consistent with
our objective of strategically adding to
our portfolio, " states Chief Executive
Officer Linhua Guan. " Based on the
location of this acreage, it allows us to
Gas Storage Further
Below Five-Year Levels
WASHINGTON-Underground
natural gas storage in the United States
stood at 2.851 trillion cubic feet on Aug.
20, 6.2% below the five-year average,
according to the U.S. Energy Information
Administration. That was up 137 billion
cubic feet from the 2.714 Tcf in storage
on July 23, which was 5.8% below the
five-year average. The Aug 20 storage
number was 563 Bcf lower than a year
ago, when gas storage stood at 3.414 Tcf.
Gas storage in the East Region was
661 Bcf on Aug. 20, 7.7% below the
five-year average, and 78 Bcf more than
on July 23, when storage stood at 583
Bcf, 8.3% below the five-year average.
East Region gas storage on Aug. 20 fell
110 Bcf from a year ago, EIA reports.
Gas storage in the Midwest stood at
790 Bcf on Aug. 20, 2.0% below the
five-year average and 88 Bcf more than
the 702 Bcf in storage on July 23, which
was 1.8% below the five-year average.
Aug. 23 gas storage in the Midwest was
111 Bcf less than a year ago.
In the Mountain Region, EIA
continues, gas storage was 188 Bcf on
Aug. 20, 2.1% below the five-year
average and 4 Bcf more than the 184
Bcf stored on July 23, which was 1.7%
above the five year-average. Gas storage
in the Mountain Region was 24 Bcf less
than a year ago.
Gas storage in the Pacific Region
was 241 Bcf on Aug. 20, 15.7% below
the five-year average and 5 Bcf less than
the 246 Bcf stored on July 23, which
was 14.9% below the five-year average.
Pacific Region gas storage on Aug. 20
was down 66 Bcf from a year ago.
In the South-Central Region, gas
MEG
O'NEILL
SCOTT
SHEFFIELD
TIM
LEACH
TRAVIS
STICE
The 23rd World Petroleum Congress, which is scheduled to take place Dec. 5-9 at the
George R. Brown Convention Center in Houston, announces that it has added Meg
O'Neill, chief executive officer and managing director of Woodside, as a plenary speaker.
Scott Sheffield, CEO of Pioneer Natural Resources; Tim Leach, executive vice president
of the Lower 48 for ConocoPhillips; and Travis Stice, CEO of Diamondback Energy, will
participate in the Industry Insights luncheon titled " U.S. Shale Revolution: A Case Study
in Innovation. " The Congress says the event will feature other industry leaders and
energy ministers from around the world, including the CEOs of Occidental Petroleum,
Repsol, ConocoPhillips, BP, Halliburton, Saudi Aramco, Equinor, TotalEnergies, Baker
Hughes, Algerian national oil company Sonatrach, Chevron and ExxonMobil. For more
information, visit www.23wpchouston.com.
20 THE AMERICAN OIL & GAS REPORTER
storage levels on Aug. 20 were 970
Bcf, 6.7% below the five-year average
and 29 Bcf less than the 999 Bcf in
storage on July 23, which was 5.8%
below the five-year average. The Aug.
20 gas storage level for the SouthCentral
Region was down 253 Bcf
from a year ago. ❒
Advertise Now: 1-800-847-8301
http://www.23wpchouston.com

American Oil and Gas Reporter - September 2021

Table of Contents for the Digital Edition of American Oil and Gas Reporter - September 2021

Contents
American Oil and Gas Reporter - September 2021 - Intro
American Oil and Gas Reporter - September 2021 - Cover1
American Oil and Gas Reporter - September 2021 - Cover2
American Oil and Gas Reporter - September 2021 - Contents
American Oil and Gas Reporter - September 2021 - 4
American Oil and Gas Reporter - September 2021 - 5
American Oil and Gas Reporter - September 2021 - 6
American Oil and Gas Reporter - September 2021 - 7
American Oil and Gas Reporter - September 2021 - 8
American Oil and Gas Reporter - September 2021 - 9
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American Oil and Gas Reporter - September 2021 - 20
American Oil and Gas Reporter - September 2021 - 21
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American Oil and Gas Reporter - September 2021 - Cover3
American Oil and Gas Reporter - September 2021 - Cover4
https://www.nxtbook.com/nxtbooks/aogr/202403
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