Devon Energy expects to exceed US production guidance in Q3, stay under budget
Devon Energy Corp. lowered its third-quarter 2018 net production estimate for Canada due to maintenance activities at one of its heavy oil projects, while raising its estimate for U.S. net production as a result of higher NGL recoveries. Devon also kept its spending below its guidance range in the third quarter at $523 million. The company's CapEx guidance for the quarter was $570 million to $630 million.
EnCap Flatrock midstream company to build Texas gas gathering system, pipeline
EnCap Flatrock Midstream-backed company Aspen Midstream LLC is building a large-diameter residue gas pipeline and a lean and rich gas gathering system in the Austin Chalk in Texas. The planned Austin Chalk system would provide producers with access to residue gas and NGL markets, as it would span across the Giddings Field, including Washington, Fayette and Burleson counties and portions of Austin, Brazos, Colorado and Waller counties.
Epic Midstream to buy NGL fractionator, pipeline in Texas from Southcross
Epic Midstream Holdings LP is expanding its NGL footprint in Texas with an agreement to acquire a NGL fractionation facility in Corpus Christi and an associated pipeline from the midstream company Southcross Holdings Borrower LP. The Robstown fractionator is capable of producing 64,000 barrels per day of NGLs, with an expansion underway to increase capacity to 68,000 bbl/d. The associated pipeline is a 57-mile system to bring NGL supplies to the facility.
Range completes sale of overriding royalty from Pa. leases to reduce debt
Range Resources Corp. closed the $300 million sale of a proportionately reduced 1% overriding royalty in its Washington County, Pa., leases, and will use the proceeds to reduce debt, according to an Oct. 15 news release. The properties include about 300,000 net surface acres, which produced about 1.7 Bcfe net per day during the second quarter.
Western Gas unit to provide gas gathering services for Anadarko subsidiary
Western Gas Partners LP subsidiary Delaware Basin Midstream LLC agreed to provide gas gathering services in the Delaware Basin of West Texas for an Anadarko Petroleum Corp. unit. Under the deal, Anadarko E & P Onshore LLC will provide acreage dedications for the whole contract period, running through Dec. 31, 2032.