American Oil and Gas Reporter - May 2016 - 107

IndustryFocus: Companies, People and Products
Carnelian Equity Backing
Percussion Petroleum LLC
HOUSTON-Percussion Petroleum
LLC and Carnelian Energy Capital Management LP have closed an equity commitment.
Percussion has been formed to pursue
an acquisition and exploration strategy
in select onshore basins in North America,
the companies say. They add that Percussion's founders-John Campbell III,
Lupe Carrillo and Brian Zwart-have
worked together at two successful private
equity-backed ventures: QR Energy LP
and Rockcliff Energy LLC.
"We are excited to be partnering with
Carnelian during this dynamic time in
the energy markets," Campbell comments.
"Carnelian's financial expertise and value-added relationships, coupled with Percussion's proven exploitation skill set,
provide us the flexibility to move quickly
as we evaluate and capture opportunities."
"We are thankful to have the opportunity to team with such highly talented
and driven entrepreneurs," says Carnelian
Partner Tomas Ackerman. "We look forward to working with them and are excited
they chose Carnelian to be their partner
in this venture."
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Emerson Enhancements Improve Field Decisions
STAVANGER, NORWAY-Emerson
Process Management has launched Roxar TempestTM 7.2, the latest version of
its integrated reservoir engineering software suite, which can be applied in a
wide variety of scenarios such as field
appraisal, field optimization and brownfield development.
According to Emerson, Tempest 7.2
comes with significant enhancements
to its history matching and uncertainty
analysis module, Tempest ENABLE,
to help oil and gas operators generate
accurate production estimates, quantify

Emerson Process Management
says its TempestTM 7.2 helps companies accurately estimate production, quantify uncertainty,
and minimize ﬁnancial risk for
ﬁeld appraisal, optimization and
brownﬁeld development.

Texas Alliance Launches New E-Internship Program
AUSTIN-The Texas Alliance of Energy
Producers has launched what it describes
as an e-internship program to provide
college students the opportunity to complete an online internship without the
need for significant travel or time away
from campus.
Alliance Chairman Robert Osborne,
vice president of Cobra Oil & Gas Corporation, indicates the program will help
prepare the industry for its next surge.
He points to the layoffs that have accompanied the industry's downturn, and warns
that experience demonstrates many of
those workers will not return to the oil
field. "With this new e-internship program,
the Alliance once again is going above
and beyond to assist our youngest members-our student members-as well as
providing a service to the industry as a
whole by preparing a future workforce
of educated, qualified oil and gas employees, who will be ready and able to
step in once the market improves," Osborne
says.
The Alliance says the inaugural e-internship has been awarded to Logan

uncertainty, and minimize financial risk.
The new version features a Roxar application connector that allows users to
set up complex, multi-application descriptions of their reservoirs to use in
ensemble-based workflows, a set of
linked programs that can predict oil
reservoir response and provide accurate
statistics on field performance. The
company adds that Tempest 7.2 sports
enhanced Tempest MORE and Tempest
VIEW modules.
For information, visit www.emersonprocess.com.
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Lewis, a petroleum engineering undergraduate student at the University of
Kansas and 2016 recipient of the Alliance-facilitated Joseph King McMahon
Petroleum Engineering Scholarship. Lewis
will complete his online internship with
Alliance Executive Vice President John
Tintera.
According to the Alliance, the e-internship program entails weekly professional, online meetings and routine assignments specifically tailored to each
student's field of study or interest. The
program also will include regular evaluations and reviews, and eventually will
be incorporated into the Alliance student
membership program.
"This program will allow students
who may be at a geographic disadvantage
in terms of proximity to major energy
businesses to participate and get realworld experience in the expansive world
that is the Texas oil and gas industry,"
Tintera says.
For information, visit www.texasalliance.org.
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MRD Divesting Itself Of
MEMP GP Interest, IDRs
HOUSTON-Memorial Resource Development Corp. has entered an agreement
to sell Memorial Production Partners GP
LLC for $750,000 in cash to Memorial
Production Partners LP.
MRD explains that MEMP GP is
MEMP's general partner, and holds the
general partner interest and 50 percent of
MEMP's incentive distribution rights. It
says that after the transaction closes,
MRD will own no interest in MEMP's
outstanding common units, IDRs or general partner interest.
"This is a very positive transaction
for both MRD and MEMP," reflects MRD
Chief Executive Officer Jay C. Graham.
"The transaction better positions both
companies as independent and separate
entities in today's lower commodity price
environment, and furthers both companies'
goals of increasing shareholder and unit
holder value."
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