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Tag Archives: East Texas

Goodrich plans startling 2015 budget amidst low oil prices


Goodrich Petroleum Corp. has 99 problems, but low oil prices isn’t one. Goodrich released its capital expenditure budget for 2015, and it has some people scratching their heads. Over 95 percent of the $150-200 million budget is oil-directed and will go in its entirety to the development of the Tuscaloosa Marine Shale (TMS). According to the company’s press release, “costs ...

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Residents upset with pipeline route outside Mansfield


MANSFIELD — In the rolling countryside surrounding his home, Charles Crook said he feels miles away from the city. “It’s quiet,” Crook said. “It’s wonderful. It’s out in the country. It is out in the middle of nowhere, but it’s 10 minutes away from everything.” But Crook and his neighbors, who live just outside Mansfield, are worried that their tranquil ...

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GE Oil & Gas announces $60M upgrade to Lufkin unit


LUFKIN, Texas— GE Oil & Gas plans to spend $60 million on expansion and modernization of its foundry in East Texas. The upgrades announced Thursday involve the GE site in Lufkin, about 115 miles northeast of Houston. The complex produces iron castings used to make beam pumping units and power transmission equipment. GE plans to demolish about 30,000 square feet ...

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Anadarko pushes progress in East Texas, Eagle Ford

oil well

Anadarko Petroleum Corp. is staking new claims in East Texas with plans to drill over 500 new wells across the region. Teaming up with KKR & Co., this is a major expansion for the company in a region where they were once highly productive. Bloomberg news reported that KKR is in it for the long-run for developing new production sites ...

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American Midstream closes $470 million acquisition of Costar

business deal handshake

A $470 million business deal which closed on Tuesday has transferred Costar Midstream from Dallas-based Energy Spectrum Partners VI to American Midstream Partners, a prominent energy company in Louisiana. According to Petro Global News, Costar is “an onshore gathering and processing company” with primary assets in East Texas as well as in the Permian Basin. The company also has projects ...

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Encana makes ‘transformative’ acquisition


Like many other oil and gas operators, Calgary’s Encana Corporation has been eyeing the Permian Basin, which already is active in the Haynesville Shale, East Texas and most recently the Eagle Ford. This week the Canadian firm jumped into the region with its $7.1 billion acquisition of Fort Worth’s Athlon Energy in what Encana President and Chief Executive Offer Doug ...

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Hunt Oil sells 23,000 acres to Vanguard

hands shaking

Chelsea Katz | Kilgore News Herald More than 20,000 acres of mineral rights recently owned by Hunt Oil Company is now controlled by Vanguard Natural Resources. Dallas-based Hunt Oil announced in August that it was selling 23,000 acres of oil and gas property in East Texas and northern Louisiana. Although originally set at $278 million, the Houstonbased Vanguard will pay ...

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