Minneapolis-based Northern Oil and Gas said last week it is acquiring a 36.7 percent interest in the Mascot project of Midland-Petro DC Partners for $330 million.  The acquired assets in Midland County are expected to average 4,400 boed in 2023Q1 and 6,450 boed for 2023.  NOG said Oct. 19 it also is acquiring an interest […]

East Daley Analytics said Sept. 30 falling Permian Basin prices for natural gas put a spotlight on pipeline takeaway capacity.  East Daley forecast Permian Basin egress to tighten by late 2022 “yet the steep discounting at Waha suggests takeaway is already tight.”  Reduced exports to Mexico also have put pressure on Permian prices, according to […]

U.S. reached a 2022 high of 769 active drilling rigs in the weekly count from Baker Hughes as of Oct. 14 after gaining 7 in the past week (543 a year ago).  Also, Baker Hughes said there were 346 rigs in Permian Basin (up 1 in past week, up 79 in past year), 365 in […]

Calgary-based Qube Technologies said Oct. 11 that Houston-based Birch Permian selected Qube to provide continuous monitoring technology and expand Qube’s current deployment to all its operated horizontal wells.  Birch recently completed a successful pilot program that resulted in emissions reduction over three months of more than 90 percent.  Nick Goodman, Birch vice president, said, “Birch […]

Crude oil production in seven major U.S. regions is expected to top 9 million barrels per day in October, according to the latest drilling productivity report from U.S. Energy Information Administration.  EIA said Sept. 12 production in seven regions is expected to grow by 132,000 b/d in October from 8.983 million b/d previous month to […]

Houston-based water infrastructure firm Gravity said recently it reached agreement with a Midland Basin operator for produced water gathering and disposal that will add about 12,000 acres to its industry-leading position.  Gravity expects to add 50 million barrels of produced water in near-term development.  It will construct new pipelines to transport 50,000 barrels per day […]

Houston-based Merge Electric Fleet Solutions said Sept. 28 it launched a program to deploy electric Ford F-150 Lightning trucks in Permian Basin.  The first-of-its-kind program will enable oil and gas operators and service companies to test electric trucks, determine if the trucks will meet their needs, and build fleet electrification plans.  Each qualified company will […]

Only one of the top seven counties in the Permian Basin reported a change in the drilling rig count for the week that ended Oct. 7.  Lea County, N.M., continues to lead Permian with 72 active rigs, according to Baker Hughes, followed by Eddy, N.M., with 38, Martin with 34, Midland with 31, Reeves with […]

State of Texas received at least $1 billion in production taxes from oil and gas in September (based on August sales) for the sixth consecutive month.  Glenn Hegar, comptroller, said Oct. 3 Texas received $552 million from oil production tax (up 41 percent from September 2021) and $480 million from natural gas production tax (up […]