Baker Hughes’ count of active drilling rigs increased for the fourth consecutive week in U.S. As of Feb. 21 there were 592 rigs in U.S. (up 4 from 588 week ago, down 34 from 626 year ago). That’s the most since June 2024. Oil directed rigs also have increased in four straight weeks from 472 […]

Houston-based Halliburton Labs said it recently added five companies to its collaborative system to help advance commercialization with support from Halliburton’s practitioners and business network. The five include Espiku, a Bend, Oregon-based company that develops solutions to help operators reuse produced water and extract minerals from brines and industrial-produced water. Espiku is scouting locations in […]

Houston-based Renegade Infrastructure announced recently an inaugural equity commitment from management and Dallas-based Energy Spectrum Partners VIII. Established in late 2024, Renegade is an independent energy company focused on acquisition and development of midstream infrastructure for oil and gas operators in various basins. Renegade’s founder and CEO, Drew Ward, most recently co-led the successful development […]

Denver-based Bayswater Exploration and Production continues to hold 50,000 acres in northern Midland Basin under active development after a recent sale of assets in Denver Julesburg Basin. The sale to Prairie Operating announced Feb. 7 was a cash-and-stock deal of 24,000 leased acres valued at $603 million. Bayswater’s assets in Midland Basin include 140 horizontal […]

Enverus said Tuesday in its latest Drilldown Report that ExxonMobil continues to be the leading driller in Permian Basin and U.S.  Across the U.S. as of Feb. 14, Exxon’s weekly average was 36.3 rigs followed by ConocoPhillips with 32.0, Occidental with 29.6, Continental Resources with 24.0, EOG Resources with 23.4, Mewbourne Oil with 22.7 and […]

Houston-based Occidental Petroleum said Tuesday it agreed to sell certain upstream assets in non-core Permian Basin and non-operated Rockies for a combined $1.2 billion.  The transactions add to Oxy’s debt reduction efforts that hit near-term target of $4.5 billion in 2024Q4.  Buyers were not disclosed for the 1Q deals.  Production in the two areas is […]

Midland-based Diamondback Energy said Thursday its CEO, Travis D. Stice, will step down as CEO at the company’s 2025 annual meeting and remain as executive chairman through the 2026 annual meeting.  Kaes Van’t Hof, president, will become CEO and join the Board of Directors at the 2025 annual meeting.  Stice has led Diamondback since 2012 […]

Midland-based Diamondback Energy said Tuesday in its announcement of the purchase of certain subsidiaries of Double Eagle IV that the two companies also are forming a JV to accelerate development of Diamondback’s non-core acreage in Midland Basin. Diamondback said, “This acceleration is expected to bring forward net asset value to Diamondback by developing Diamondback’s lower […]