Houston-based Chevron and its partners Talos Energy and Carbonvert said recently they will triple the size of Bayou Bend CCS, a carbon capture and storage project on the Gulf Coast, to become one of the largest in the nation. Chevron said it acquired about 100,000 acres of onshore land in Chambers and Jefferson counties. The […]
Universities, labs announce formation of Permian Energy Development Lab
Seven universities in Texas and New Mexico and three national laboratories said they are forming Permian Energy Development Lab (PEDL) to study carbon capture and its beneficial use and the management of methane and emissions. The new lab was revealed March 30 during a panel discussion in Austin at University of Texas, which will be […]
Ovintiv to moderate drilling in new assets, sells Bakken assets in Williston
Denver-based Ovintiv said this week that following closing of its latest Midland Basin acquisition it plans to moderate drilling activity in the acquired assets. Ovintiv said it will move from 7 operated rigs to 2 for a total of 5 rigs operating across its combined Permian acreage. Ovintiv expects to deliver 2024 total company oil […]
Document and Verify
For the last three years of writing for this publication, I’ve yet to run out of things to say! Isn’t that a typical safety person? That was a rhetorical question—you don’t have to answer that. As I’ve stated throughout the years, safety has become litigation driven. If it is not documented, it didn’t happen. At […]
U.S. crude oil production rebounds in January to 12.4 million barrels per day
U.S. Energy Information Administration said the nation’s crude oil production rebounded in January to an average of 12.462 million barrels per day – highest since March 2020 (during the pandemic). Production of crude oil in U.S. fell to a low of 9.713 million b/d in May 2020 (during the pandemic) before recovering to 11.369 million […]
Diamondback joins United Nations methane reporting, mitigation program
Midland-based Diamondback Energy said last week it joined Oil and Gas Methane Partnership 2.0, the flagship oil and gas reporting and mitigation program of United Nations’ environmental program. Travis Stice, chairman and CEO, said March 27, “As we work toward achieving our emission reduction targets, it’s paramount that we can rely on a framework that […]
U.S. rig count posts first quarterly decline since 2020Q3; Eddy now leads Permian
After two weeks of increases in Baker Hughes’ counts of active drilling rigs, the counts in Permian Basin, New Mexico and U.S. declined in the weekly report for March 31. And the U.S. count marked its first decline in a quarter since 2020Q3 after increasing for 9 consecutive quarters. As of March 31, there were […]
Ovintiv to acquire EnCap assets in Midland Basin for $4B to double its production
Denver-based Ovintiv confirmed Monday that it agreed to purchase substantially all leasehold interests and related assets of Black Swan Oil & Gas, PetroLegacy Energy and Piedra Resources in Midland Basin in a cash-and-stock deal valued at $4.275 billion ($3.125 billion cash). The acquisition will add about 1,050 net well locations of 10,000 feet to Ovintiv’s […]
Double Fractions Demystified
Van Dyke v. Navigator Group[1] concerns a dispute that has lasted a decade, as well as an issue that, for multiple decades, has plagued energy practitioners and fueled countless mineral ownership lawsuits: “the ‘double-fraction’ dilemma.” This use of two fractions is typically found in mineral conveyances drafted in the first half of the twentieth century. […]
Double Eagle Deepens Investment
(BUSINESS WIRE) EnCap Investments L.P., Double Eagle Energy Holdings IV, LLC, and Tumbleweed Royalty IV, LLC announced Jan. 9 the successful equity commitment upsize and establishment of their RBL facility. The expansion of capital will provide for acceleration of Double Eagle’s core strategy of acquiring and developing top-tier, accretive drilling opportunities in the Permian Basin. […]
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