ArcLight Sells Long-time San Juan Operator LOGOS in $400 Million Deal
Private-equity fund North Hudson Resource Partners LP purchased San Juan Basin...
Private-equity fund North Hudson Resource Partners LP purchased San Juan Basin operator LOGOS Resources II LLC from affiliates of ArcLight Capital Partners LLC for $402 million, according to a North Hudson news release.
LOGOS’ net production averages 106 MMcfe/d across a 230,000 net-acre position in the San Juan Basin of New Mexico and Colorado. The company recently commenced its 2022 drilling program and anticipates increasing net production to about 130 MMcfe/day by year-end.
A long-time San Juan Basin operator, LOGOS has an “extensive inventory” of drilling locations in the Mancos Shale and Gallup oil play, North Hudson said in a June press release.
Federal bank survey shows strong drilling activity planned in Oklahoma and other states
The Kansas City Federal Reserve Bank announced a second-quarter Energy...
The Kansas City Federal Reserve Bank announced a second-quarter Energy Surveythat showed improved drilling in the region that includes Oklahoma. Results were some of the highest in 8 years.
“District drilling and business activity grew faster in Q2, with additional growth expected in the next six months,” said Chad Wilkerson. Oklahoma City Branch executive and economist in the 10th District that covers the states of Colorado, Kansas, Nebraska, Oklahoma, and Wyoming; 43 counties in western Missouri; and 14 counties in northern New Mexico.
The survey also showed expectations for future activity continued to remain strong.
Texas at risk of blackouts as ERCOT calls for energy conservation
The Texas electric grid operator has warned of possible blackouts on Monday due to sweltering...
The Texas electric grid operator has warned of possible blackouts on Monday due to sweltering heat driving record demand.
The Electric Reliability Council of Texas, or ERCOT, said it was asking for voluntary conservation between 2 p.m. and 8 p.m. local time due to record high electricity demand because of the heat wave, and also because of low wind. ERCOT said current projections show wind generation coming in less than 10% of capacity.
The National Weather Service said temperatures will reach or exceed 105 degrees Fahrenheit in areas ranging from the Big Country to Central Texas regions. A heat advisory is in effect for the Dallas-Fort Worth region into East Texas, where temperatures will reach or exceed 103 degrees.
