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• Roan Resources Provides Updates
  Roan Resources, Inc. (ROAN) recently announced it is positively updating guidance for the second quarter...
  Roan Resources, Inc. (ROAN) recently announced it is positively updating guidance for the second quarter of 2019.
  
  Specifically, the Company anticipates second-quarter production to exceed 50 thousand barrels of oil equivalent (MBoe) per day, which compares to adjusted guidance of approximately 49 MBoe/d, when accounting for ethane rejection(1).
  
  Additionally, due to drilling and completion costs continuing to trend lower, the Company is projecting CAPEX to come in approximately 10% below original second quarter guidance of $155 million.
  
  The Mad Play unit in Canadian County, along with the Mayes wells from the Earl (Candian County) and Victory Slide (Grady County) units, continue to be strong producing wells. Updated results for these wells are as follows:
  
  4-well Mad Play unit had an average per well 30-day IP rate of 1,602 Boe/d (44% oil, 20% NGLs, 36% gas) from a normalized 10,000-foot lateral
  3 Mayes wells from the Earl unit had an average per well 30-day IP of 1,466 Boe/d (39% oil, 24% NGLs, 37% gas) from a normalized 10,000-foot lateral
  2 Mayes wells from the Victory Slide pad had an average per well 30-day IP rate of 1,109 Boe/d (71% oil, 14% NGLs, 15% gas) from a normalized 10,000-foot lateral
  
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• Northeast needs new pipelines to meet increasing LNG demand
  Increased demand spurred by new liquefaction terminals will increase the need for new pipelines in the...
  Increased demand spurred by new liquefaction terminals will increase the need for new pipelines in the Northeast, a region where it is often difficult to increase capacity, industry leaders heard at an LDC Gas Forums conference in Boston. "We may have technology that far outweighs our ability to use it," says Pat McKinnon, an associate with Euler Hermes Energy.
  
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• Permian Basin Operator Legacy Reserves To Enter Chapter 11 Bankruptcy
  Less than a year after shedding its MLP roots, Permian Basin operator Legacy Reserves Inc. is on its...
  Less than a year after shedding its MLP roots, Permian Basin operator Legacy Reserves Inc. is on its way to bankruptcy.
  
  The company reached a restructuring agreement with its lenders on June 14 following months of negotiations that also included exploring for strategic alternatives.
  
  Legacy Reserves is an independent energy company focused on the horizontal development of unconventional plays in the Permian Basin. The Midland, Texas-based company also has assets in the East Texas, Rocky Mountain and Midcontinent regions.
  
  
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• US claims video shows Iranian forces removing mine from damaged tanker
  The US Navy identified tankers it alleges were attacked by Iran in the Strait of Hormuz on Thursday as...
  The US Navy identified tankers it alleges were attacked by Iran in the Strait of Hormuz on Thursday as the Norwegian-owned Front Altair and the Japanese-owned Kokuka Courageous, and released a video the Navy says shows Iranian special forces removing an unexploded mine from the latter ship. "Iran categorically rejects the US unfounded claim with regard to 13 June oil tanker incidents," the Iranian mission to the United Nations said in a statement released Friday morning.
  
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• Brazos Midstream plans Permian natural gas pipeline
  Brazos Midstream has executed gathering and processing agreements with Shell Exploration & Production...
  Brazos Midstream has executed gathering and processing agreements with Shell Exploration & Production to construct a natural gas gathering system in the core of the Permian Basin’s Delaware formation in West Texas.
  
  The infrastructure would be anchored by 15-year, fee-based acreage dedications totaling 55,000 acres in Loving, Ward, and Winkler counties. The Fort Worth, TX-based operator plans to construct 16 miles of high-pressure pipeline extending from its existing gathering and processing systems, which then could be expanded to support multi-well pad development by producer customers and other operators in the area.
  
  
  
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