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Week in Review: Top Stories & Headlines

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   |    Friday,October 31,2014

Top stories, headlines, deals, and more from the week of October 27, 2014.

Best in Industry News:

1. KKR Makes First Investment in the East Texas Eaglebine

Through long-term, full field development, KKR expects to participate in more than 500 future horizontal wells with...

2. Midstream Madness: More Companies Looking to Cash In

In recent weeks, the industry's midstream sector has seen several new companies forming and filing IPOs.

3. Hess to Proceed with Stampede Project in Deepwater GoM

Discovered in 2005, the Stampede Field is located approximately 115 miles south of Fourchon, La., in the Gulf of Mexico (Green Canyon Blocks 468, 511 and 512).

Best in Third Quarter Reports:

1. Penn Virginia Touts Five Eagle Ford IPs Over 1,900 BOE/d

The average amount of proppant per stage for the 17 wells completed during the quarter was approximately...

2. Energen IDs Permian, San Juan Basin Sweet Spots in 3Q

The company drilled its first Cline and Wolfcamp C wells in the quarter.

3. Whiting: Slickwater Fracs Strengthen Bakken Well Results

In the third quarter of 2014, production from the Bakken/Three Forks averaged a record 87,480 BOE/d, an increase of 33% over the 66,015 BOE/d in the third quarter of 2013.

Best in Deals:

1. Western Gas to Acquire Nuevo Midstream in Deal Worth $1.5 Billion

Nuevo Midstream is a large company with operations concentrated in the Delaware Basin of West Texas & eastern New Mexico.

2. ONEOK to Acquire $800 Million in Permian NGL Assets from Chevron

These assets will increase the partnership's NGL gathering system by more than 60 percent to nearly 6,900 miles of NGL gathering pipelines.

3. Continental, SK Group Join Forces for $360MM Cana-Woodford JV

SK E&S is a subsidiary of SK Group, one of the largest conglomerates in South Korea and part of SK Holdings, a Fortune Global 100 company.

New Projects:

1. Dominion Breaks Ground on Cove Point LNG Project

Dominion has begun construction-related activities for the Cove Point Liquefied Natural Gas Export project, one of the largest private investments ever in Maryland.

2. ETP, Phillips 66 Partner for Bakken Oil Pipeline Projects

Energy Transfer holds a 75 percent interest in each joint venture and will operate both pipeline systems. Phillips 66 owns the remaining 25 percent interests.

3. Sasol to Build Ethane Cracker at Lake Charles Complex

The new complex will be a major expansion to Sasol’s existing Lake Charles Chemical Complex and will be constructed adjacent to its existing facility in southwest Louisiana.

This Week's Completions:

1. 650 Bopd Vertical Well in Refugio County, TX

The well was drilled to a total depth of 11,250 ft on the Fagan C Unit lease targeting the...

2. 1,000 BO/d Woodbine Well in Brazos County, TX

The well was drilled to a total depth of 7,943 ft on the Leopard Shark Unit lease targeting the Woodbine formation.

3. Triple Run on Buda Limestone Wells

Three wells were drilled in the play by two separate companies.