East Texans say oil and gas industry experiencing slow rise

East Texans say oil and gas industry experiencing slow rise
Source: KTRE Staff
Source: KTRE Staff

EAST TEXAS (KTRE) - A Dallas-based pipeline company called Azure Midstream Partners, which transfers natural oil and gas and has multiple branches in East Texas, was bought out after the company filed for bankruptcy at the beginning of 2017. Now a Houston-based company, Enterprise Products and Partners has taken over.

A spokesperson for the Houston-based business said the business won the bid of $189 million and explained the business will complement their company which also has pipeline systems in East Texas.

Meanwhile, the oil and gas industry is gaining activity, even if it's at a slow crawl.

San Augustine County Judge Samye Johnson said unlike previous years, she has seen more activity circulating through the industry.

"We're in the process, and we're seeing a lot of activity, and it's hard to predict what that's going to be here on, but it's looking very promising and we're very delighted," Johnson said.

San Augustine County Clerk Margo Noble also confirmed there is more activity than usual in recent months.

"We've had some people come in and make 300 or 400 copies at a time, so we're happy about that," Noble said.

Noble said while there are a few people coming to her office, those copies are being made by people seeking more information on land options in the area.

North of San Augustine, Shelby County Clerk Jennifer Fountain has filed at least five oil, gas, and mineral leases just this quarter, another sign of good news.

"It's promising to see some people come back in copying-revenue picking back up. I know the citizens are always ready to see oil and gas people come back," Fountain said.

While the road to recovery of the oil and gas industry is not is full swing, it's certainly a start of the exploration again.

"Since I've been in office, we've been preparing, we felt like this would be happening, and we've been preparing to take advantage, to the very best advantage of the situation as it develops this time," Johnson said.

Enterprise Product Partners is currently evaluating how the acquisition of Azure Midstream Partners will impact jobs.

The transaction of the two companies is subject of regulatory approvals and closing conditions.

Copyright 2017 KTRE. All rights reserved.