Pine Wave Energy Partners to Sell Haynesville Acreage, Gathering Assets
FORT WORTH, Texas — Pine Wave Energy Partners LLC has entered into a definitive agreement to sell certain Haynesville assets located in Caddo Parish, Louisiana, and Harrison and Panola counties, Texas, to affiliates of Silver Hill Energy Partners III LP. Closing is expected in the second quarter of 2022 and is subject to customary approvals and closing conditions. Pine Wave will continue to operate its other properties and pursue new opportunities as a portfolio company of Old Ironsides Energy LLC.
“We are excited to acquire these high-quality assets, which directly offset our existing operations in the heart of the Haynesville Shale,” Kyle Miller, founder, president and CEO of Silver Hill, said. “With this transaction, we are able to further expand our development inventory in an area that continues to present tremendous opportunity. Pine Wave has done a terrific job building its business and we expect to be able to positively leverage their strong position in the region.”
Pine Wave was formed in 2018 by CEO Ben Hunter, Executive Vice President Ben Voigt, and Stephen O’Neal, who serves as executive vice president and general counsel. Included in this transaction are Pine Wave’s assets located in Caddo Parish, Louisiana, and Harrison and Panola counties, Texas, which consist of approximately 12,500 net acres with ownership interests in 10 operated wells with approximately 100 million cubic feet per day of production. Also included in the transaction is all associated midstream infrastructure, including 18 miles of natural gas gathering pipelines located in Caddo Parish and Panola County.
“This transaction with Silver Hill is a significant step in the Pine Wave story,” Hunter said. “Over the past four years we have worked to build an outstanding position in the Haynesville, and I am proud of the way our team has executed across the board. We are grateful for our ongoing partnership with Old Ironsides and look forward to shifting our operational focus to the company’s next venture.”
Akin Gump Strauss Hauer & Feld LLP served as legal counsel to Pine Wave’s management team, and Shearman & Sterling LLP served as legal counsel to Silver Hill.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- Enbridge Adds Turboexpanders at Pipeline Sites to Power Data Centers in Canada, Pennsylvania
- Great Basin Gas Expansion Draws Strong Shipper Demand in Northern Nevada
- US Poised to Become Net Exporter of Crude Oil in 2023
- EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
Comments