Titan Rock Exploration & Production LLC said March 22 it received an equity commitment from a private investment firm. The amount of the investment wasn't disclosed.
The newly-formed E&P is focused on the acquisition and development of oil and natural gas assets in North America, with a primary focus on the Haynesville Shale of East Texas/North Louisiana and the Permian Basin, according to the release.
Titan Rock is based in Dallas and is led by Robert Martinez as president and CEO. Martinez has 20 years of experience developing and optimizing oil and gas assets throughout the U.S. and previously held leadership roles at XTO Energy Inc., EXCO Resources Inc. (NYSE: XCO) and Compass Production Partners LP, according to Titan Rock's website.
Kinder Morgan's pipeline, Lockridge, is designed to remove natural gas from the Permian Basin where pipeline capacity has not kept up with the amount of gas associated with oil production.
The most impactful of rule changes within SB 181 involves extending setbacks, set to affect Colorado oil and gas operators PDC Energy, Extraction Oil & Gas and Occidental Petroleum, an RS Energy analyst says.
Equinor said on Sept. 29 it has found oil and gas at the Swisher prospect, where recoverable resources are estimated to be between 13-28 million barrels of oil equivalent.