Sentinel Midstream established a JV with Exxon Mobil that will provide “the critical last-mile link for Permian, Gulf of Mexico and other barrels in the Houston crude oil market,” the company said.
Chevron and Bunge's proposed JV will include expanding Bunge's facilities in Destrehan, Louisiana, and Cairo, Illinois, to nearly double their capacity by 2024.
Andros Capital agreed to fund approximately $150 million to participate in a development drilling program targeting the Spraberry and Wolfcamp formations on MPDC’s Permian Basin position in Midland County, Texas
The company's CEO said the joint venture comes at an ideal time as the company continues to grow its footprint in the Permian Basin.
The combination with a vast majority of Plains All American’s Permian Basin assets is a “natural evolution of the Oryx growth story,” says Oryx Midstream CEO Brett Wiggs.
The JV consolidates three legacy upstream assets held by BP, Southland and Crowheart Energy into one contiguous footprint consisting of over 1.2 million net acres, which Denver-based Crowheart will operate, says Williams.
Under terms of the JV agreement, Vista Oil & Gas and Trafigura will jointly develop initially five pads of four wells each in Bajada del Palo Oeste, which is Vista’s main shale oil development in Vaca Muerta.
Stateline Operating, a newly formed JV between Vortus Investment Advisors and Flat Creek Resources, will initially focus on the development of existing oil-rich assets in New Mexico’s Eddy County in the Delaware Basin.
Conducting business internationally offers many opportunities to U.S. oil and gas companies, but a proper understanding of the partnerships often involved is key. Here are some of the practical considerations of pursuing a successful joint venture abroad.