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The JV, called OneStim, will rival Halliburton’s frack fleet in the U.S. and Canada and further shrinks the pressure pumping marketplace to the detriment of smaller companies, an analyst said.
The JV will offer 'one of the broadest multistage completions portfolios in the market combined with one of the largest hydraulic fracturing fleets in the industry,' according to the release.
Two segments—smaller producers and water services—are providing investment opportunities, especially in the prolific Permian Basin.
Both companies will take a 50% stake in the Bajada de Añelo Field to develop a pilot program, which will be operated by Shell, YPF said in a statement. The agreement is subject to approval by provincial authorities, and Shell’s investment will come in two phases, YPF said.
In fourth-quarter 2016, nearly all of the $11.9 billion in transactions were made by public companies purchasing from private-equity firms.
The agreement with Canaan Resource Partners covers certain Haynesville and Bossier shale acreage in the Shelby Trough operated by XTO Energy Inc.
Matador’s JV with a private company far exceeds analyst estimates, who considered the midstream infrastructure worth $250 million or so.
The Los Angeles-based company formed a joint venture with Benefit Street for the investment of up to $250 million for the development of opportunities in its conventional and unconventional assets.
ETP, MPLX and Enbridge complete transactions on the Bakken Pipeline System.
The deal is the latest sign of midstream efforts to keep pace with Southern Delaware development.
There could be development of eight additional processing facilities, in the Sherwood complex and a new location in West Virginia, the press release added.
The JV is among recent transactions between publicly traded companies and private-equity firms.