Jerry looks to sell Bakken Assets - GoHaynesvilleShale.com2024-03-29T11:06:07Zhttps://gohaynesvilleshale.com/forum/topics/jerry-looks-to-sell-bakken-assets?feed=yes&xn_auth=noThanks, Tom. For those who w…tag:gohaynesvilleshale.com,2021-08-20:2117179:Comment:39926312021-08-20T21:30:58.742ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>Thanks, Tom. For those who wish to look up the well list for the company, use TGNR TVL LLC.</p>
<p>Thanks, Tom. For those who wish to look up the well list for the company, use TGNR TVL LLC.</p> TGNR = Tokyo Gas Natural Res…tag:gohaynesvilleshale.com,2021-08-20:2117179:Comment:39926292021-08-20T21:15:45.578ZTom Cabehttps://gohaynesvilleshale.com/profile/TomCabe
<p></p>
<p><strong>TGNR = Tokyo Gas Natural Resources</strong></p>
<p><strong>TG Natural Resources is jointly owned by Castleton Commodities International LLC (30%) & Tokyo Gas Co., Ltd. (70%)</strong></p>
<p><strong>Tokyo Gas Co., Ltd. is Japan’s largest provider of city gas, serving more than 12 million customers for over 130 years, primarily in the Tokyo metropolitan area & surrounding Kanto region.</strong></p>
<p><strong>TG Natural Resources owns over ca. 304,000 net acres, which…</strong></p>
<p></p>
<p><strong>TGNR = Tokyo Gas Natural Resources</strong></p>
<p><strong>TG Natural Resources is jointly owned by Castleton Commodities International LLC (30%) & Tokyo Gas Co., Ltd. (70%)</strong></p>
<p><strong>Tokyo Gas Co., Ltd. is Japan’s largest provider of city gas, serving more than 12 million customers for over 130 years, primarily in the Tokyo metropolitan area & surrounding Kanto region.</strong></p>
<p><strong>TG Natural Resources owns over ca. 304,000 net acres, which produced over 385 million cubic feet equivalent per day (ca. 20% liquids) as of December 2020 predominately sourced from the prolific Haynesville & Cotton Valley formations in East Texas & Northern Louisiana.</strong></p>
<p></p> Thanks. I suspect there is P…tag:gohaynesvilleshale.com,2021-08-20:2117179:Comment:39926212021-08-20T17:35:01.519ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>Thanks. I suspect there is Private Equity money behind these acquisitions and the name change. Castleton, now TGNR NLA, has acquired two horizontal upstream assets but does not appear to have any experience as a horizontal operator. Looks like bargain basement acquisitions with TGNR acting as operator of existing wells but no intent to drill new wells in the near future. Considering the low remaining reserves in both assets, I'm unsure what comes next.</p>
<p>Thanks. I suspect there is Private Equity money behind these acquisitions and the name change. Castleton, now TGNR NLA, has acquired two horizontal upstream assets but does not appear to have any experience as a horizontal operator. Looks like bargain basement acquisitions with TGNR acting as operator of existing wells but no intent to drill new wells in the near future. Considering the low remaining reserves in both assets, I'm unsure what comes next.</p> Castleton changed their name.…tag:gohaynesvilleshale.com,2021-08-20:2117179:Comment:39926162021-08-20T17:28:42.992Zfull namehttps://gohaynesvilleshale.com/profile/fullname
<p>Castleton changed their name. It is now TG Natural Resources (TGNR NLA LLC)</p>
<p></p>
<p>Castleton changed their name. It is now TG Natural Resources (TGNR NLA LLC)</p>
<p></p> Thanks, Tom.tag:gohaynesvilleshale.com,2021-08-20:2117179:Comment:39926062021-08-20T13:11:21.868ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>Thanks, Tom.</p>
<p>Thanks, Tom.</p> According to the August O&…tag:gohaynesvilleshale.com,2021-08-20:2117179:Comment:39924452021-08-20T13:06:24.756ZTom Cabehttps://gohaynesvilleshale.com/profile/TomCabe
<p>According to the August O&G Investor:</p>
<p><em>"Vine's IPO rolled up three affiliated entities: Vine Oil & Gas, Brix Oil & Gas Holdings and Harvest Royalties."</em></p>
<p>According to the August O&G Investor:</p>
<p><em>"Vine's IPO rolled up three affiliated entities: Vine Oil & Gas, Brix Oil & Gas Holdings and Harvest Royalties."</em></p> You are correct.
Castleton cl…tag:gohaynesvilleshale.com,2021-08-19:2117179:Comment:39925772021-08-19T18:15:31.355ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>You are correct.</p>
<div class="row"><div class="col"><div class="page-wrapper__header"><h1 class="page-wrapper__title"><span style="font-size: 12pt;">Castleton closes deal with Shell unit for Haynesville assets</span></h1>
<p class="page-wrapper__deck">Castleton Resources LLC, a subsidiary of Castleton Commodities International LLC (CCI), closed a deal on Dec. 25 to acquire the East Texas and North Louisiana Haynesville shale assets of BG US Production Co. LLC, a Royal Dutch Shell plc…</p>
</div>
</div>
</div>
<p>You are correct.</p>
<div class="row"><div class="col"><div class="page-wrapper__header"><h1 class="page-wrapper__title"><span style="font-size: 12pt;">Castleton closes deal with Shell unit for Haynesville assets</span></h1>
<p class="page-wrapper__deck">Castleton Resources LLC, a subsidiary of Castleton Commodities International LLC (CCI), closed a deal on Dec. 25 to acquire the East Texas and North Louisiana Haynesville shale assets of BG US Production Co. LLC, a Royal Dutch Shell plc subsidiary.</p>
<div class="content-attribution"><div class="content-attribution__content-authors"><span class="content-attribution__content-name content-attribution__content-name--contact-name"><a href="https://www.ogj.com/home/contact/17298735/ogj-editors" class="content-attribution__content-link content-attribution__content-link--17298735 content-attribution__content-link--contact">OGJ editors</a></span></div>
</div>
<div class="content-published-date">Dec 30th, 2019</div>
</div>
</div>
</div>
<div class="row"><div class="col-lg-8"><div class="page-wrapper__contents"><div class="content-body-contents"><p>Castleton Resources LLC, a subsidiary of Castleton Commodities International LLC (CCI), closed a deal on Dec. 25 to acquire the East Texas and North Louisiana Haynesville shale assets of BG US Production Co. LLC, a Royal Dutch Shell plc subsidiary. Pro forma for the acquisition, Castleton Resources will hold 222,400 net acres in the region and produce some 334 MMcfe/d (net). </p>
<p>Castleton Resources is owned by CCI and Tokyo Gas America Ltd., a wholly owned subsidiary of Tokyo Gas Co. Ltd. Concurrent with the transaction, Tokyo Gas America Ltd. will increase its interest in Castleton Resources to 46% from 30%.</p>
</div>
</div>
</div>
</div>
<p></p> I believe Castleton owns the…tag:gohaynesvilleshale.com,2021-08-19:2117179:Comment:39924292021-08-19T18:13:00.760ZAndy Franklinhttps://gohaynesvilleshale.com/profile/AndyFranklin
<p>I believe Castleton owns the 50% that Shell owned now. </p>
<p>I believe Castleton owns the 50% that Shell owned now. </p> Andy, it's possible but I'm t…tag:gohaynesvilleshale.com,2021-08-19:2117179:Comment:39926662021-08-19T16:06:52.155ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>Andy, it's possible but I'm thinking unlikely. Exco looked for a buyer for several years and could not find one before taking bankruptcy. Keep in mind that Shell (RDS) owns a 50% interest in Exco Haynesville assets through its acquisition of BG US (British Gas). Shell, one of the early Haynesville Shale players, know the rock quite well and could have drilled Exco's acreage if it wished to. I think the problem with Exco is too little rock (acreage) that has already seen a high degree of…</p>
<p>Andy, it's possible but I'm thinking unlikely. Exco looked for a buyer for several years and could not find one before taking bankruptcy. Keep in mind that Shell (RDS) owns a 50% interest in Exco Haynesville assets through its acquisition of BG US (British Gas). Shell, one of the early Haynesville Shale players, know the rock quite well and could have drilled Exco's acreage if it wished to. I think the problem with Exco is too little rock (acreage) that has already seen a high degree of drilling. Largely depleted reserves, not many well locations remaining in comparison to most Haynesville operators.</p>
<p></p> Vine and Brix are definitely…tag:gohaynesvilleshale.com,2021-08-19:2117179:Comment:39925702021-08-19T15:57:20.590ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>Vine and Brix are definitely connected at the hip. If similar to other Haynesville JVs in the past, the Brix E&P is likely financed by a PE company or investor group separate from Vine. Brix was never mentioned in the IPO unless I missed it. The two different operator names are basically an accounting function as Vine does not own Brix but operated for Brix (same field and front office staff). I haven't read anywhere that Brix is part of the CHK deal. It may and it may not. The…</p>
<p>Vine and Brix are definitely connected at the hip. If similar to other Haynesville JVs in the past, the Brix E&P is likely financed by a PE company or investor group separate from Vine. Brix was never mentioned in the IPO unless I missed it. The two different operator names are basically an accounting function as Vine does not own Brix but operated for Brix (same field and front office staff). I haven't read anywhere that Brix is part of the CHK deal. It may and it may not. The money source behind Brix may entertain offers from interested parties and those assets could go somewhere other than CHK. Since this is a good time for M&A, it would make sense.</p>
<p></p>