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• Permian slump to play in favor of Marcellus, Utica gas drillers
  An anticipated drop in Permian Basin activity will open a window of opportunity for producers in...
  An anticipated drop in Permian Basin activity will open a window of opportunity for producers in the Marcellus and Utica shales to meet the demand for natural gas liquids after 2024, John Powell of Crestwood Equity Partners said at the Marcellus Utica Midstream Conference. Powell says the region has sufficient NGL pipeline capacity, but more fractionation capacity is needed.

  
  

  "The future is very bright. There's a lot of demand coming ... but we're a little early on supply," said Jeff Pinter, EVP of NGL Liquids, a division of midstream provider NGL Energy Partners LP (NYSE: NGL).

  
  

  The main market for export in the future will be Asia, Pinter said. But those plants haven't been built yet.

  
  

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• Laredo Petroleum Announces Bolt-On Acquisition in Glasscock County
  Laredo Petroleum Inc. said Dec. 9 it...
  
  

  
  
  Laredo Petroleum Inc. said Dec. 9 it closed on a $65 million bolt-on acquisition in Glasscock County, Texas, marking the second purchase in the Permian Basin the Tulsa, Okla.-based company has made so far this quarter.
  
  The acquisition consists of 4,475 contiguous net acres in Glasscock County for $65 million, further delivering on the Company’s strategy of acquiring properties that can improve the Company’s capital efficiency and enhance Free Cash Flow generation. The acquisition was funded with the Company's $1.0 billion senior secured credit facility, resulting in outstanding borrowings of $245 million on December 6, 2019.
  
  Acquisition Highlights
  

  
  
  • Current net production of 1,400 barrels of oil equivalent ("BOE") per day (55% oil)
  
  
  • Approximately 45 total gross (35 net) expected locations across the Lower Spraberry, Upper Wolfcamp and Middle Wolfcamp formations at 1,320' spacing, 80% of acreage held by production ("HBP")
  
  
  • Located in an area of high oil productivity with relevant offset wells indicating first-year oil production 37% higher than expectations for legacy Laredo Wolfcamp drilling
  
  

  
  

  
  
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• Permian Operator Lilis Energy Notified Of Listing Deficiency
  Lilis Energy Inc.. (NYSE: ...
  
  

  
  
  Lilis Energy Inc.. (NYSE: LLEX) said Dec.6 it had received a deficiency letter for its common stock as the Permian Basin focused independent E&P continues to evaluate strategic alternatives.
  
  The letter, from the NYSE American LLC, said Lilis Energy is below compliance with the stock exchange’s continued listing standards because the company’s common stock has been selling for “a low price per share for a substantial period of time.”
  
  Lilis Energy will have to proceed with a reverse stock split of its common stock unless it can demonstrate sustained price improvement no later than June 3, according to the company press release.
  
  Lilis Energy, Inc. is an independent oil and gas company, which engages in the exploration, development, production, and acquisition of oil, natural gas, and natural gas liquids. Its operations focus on the Delaware Basin of the Permian in Winkler, Loving and Reeves Counties, Texas and Lea County, and New Mexico.
  
  

  
  
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• Aramco Stock Will Have Plenty of Support
  (Bloomberg) -- When shares of Saudi Arabia’s national oil company begin trading Wednesday after the...
  (Bloomberg) -- When shares of Saudi Arabia’s national oil company begin trading Wednesday after the world’s largest initial public offering, the stars will be aligned to ensure that the stock price holds up.
  
  Aramco sold $25.6 billion of shares at 32 riyals each, the top of the range at which they were marketed, and the company had orders for $119 billion of stock. About 4.9 million individual investors, almost 15% of the kingdom’s population, applied for the shares. Saudi Arabia sold only 1.5% of the company’s capital in the IPO.
  
  Aramco’s board said the company will pay at least $75 billion of ordinary dividends in 2020, in addition to any potential special payouts.
  
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• Scoop & Stack Water Management Congress returns to Oklahoma City
  American Business Conferences' Scoop...
  American Business Conferences' Scoop & Stack Water Management Congress returns to Oklahoma City this December with a focus on assessing effective full life cycle water management methods to drive down operational expenditure on a cost per barrel basis, bringing together leading operators, key regulatory bodies, and technology & service providers from across the region, to share their knowledge and experiences on proven and effective ways to optimize water management strategies.
  
  American Business Conferences promises to once again push the envelope, and raise the bar to bring you over 25+ Hours of Learning, Networking & Business Development over 3 days.
  
  DAY 1 FOCUS: WEDNESDAY DECEMBER 11, 2019
  

  
  
  • Focusing On Key Economic Cost Drivers, Including Water Reuse, Disposal, Safe Surface Discharge, Trucking, Midstream, Regulations (County And State)
  
  

  
  DAY 2 FOCUS: THURSDAY DECEMBER 12, 2019
  

  
  
  • Focused On Produced Water Reuse, Recycling Case Studies, Induced Seismicity, Seismic Regulations, Water Quality For Completions, Treatment Technologies: Bacteria & Brine Scaling, Mineral Mapping, Beneficial Reuse
  
  
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