The pipeline will move 80,000 barrels of crude oil from Longview, Texas, to Shreveport, La., and El Dorado, Ark. The joint venture between the companies creates Caddo Pipeline LLC.
Australia-based Austin is operator of an 11,560-acre Pathfinder oil and gas property in Fremont County, Colo., and it agreed to have Pierre drill two wells back-to-back in April and May.
The subsea umbilical, riser and flowline systems (SURF) and subsea production and processing systems (SPS) will be integrated, reducing total ownership cost and increasing reliability and uptime.
Caza, of The Woodlands, Texas, was to drill an initial horizontal Wolfcamp well on the Reeves County acreage.
Enterprise will continue to serve as operator of the Panola Pipeline and own the remaining 55% interest.
The acquisition will not close until the Joliet Terminal becomes commercially operable.
The JVs are located southwest from the company's Arikaree Creek Field and Snow King project towards the town of Limon.
The transactions are expected to close in the fourth quarter of 2014 with total capital cost for the joint ventures estimated to be approximately $300 million.
In addition, Denver-based PDC announced its borrowing base increased to $700 million from $450 million following the recently completed semi-annual redetermination of its revolving credit facility.
The JV is based upon the success of the first joint venture with a Grafton affiliate.
ZaZa’s East Texas acreage holdings comprise two separate development areas, each with different operators and ownership structures.
Stratex entered a joint development agreement for roughly 35,000 leasehold acres in the Mississippi Lime.
|E&P||USD 218||Members only||Southwestern Energy Co.|
|Mid||USD 500||Members only||Southwestern Energy Co.|
|Mid||USD 0||Members only||Saddlehorn Pipeline Co.|
|E&P||USD 587.5||Members only||Beaumont Energy Inc.|