Enverus last week released a basin-by-basin look at North American drilling inventory with analysis of well locations remaining at various prices.  The Calgary-based research firm estimates there are 125,000 remaining undeveloped locations holding 60 billion barrels of oil that break even below $40 WTI across North America.  Enverus said Delaware and Midland basins comprise 85 […]

Permian Basin held steady with 346 active drilling rigs for the third straight week as of Oct. 28, according to Baker Hughes’ weekly count, while Texas posted the biggest decline among major producing states (down 3 rigs in past week to 368).  Also, there were 106 rigs in New Mexico (up 1 in past week) […]

Dallas-based Pioneer Natural Resources said last week it plans to concentrate its development program starting in 2023 on locations with higher potential.  That comes after a year in which officials said results have not been satisfactory.  Scott D. Sheffield, CEO, said Oct. 27, “We have increased the return thresholds for wells to be included in […]

Midland-based ProPetro Holding Corp., oilfield services company that provides completions services to upstream oil and gas companies, said this week it acquired another Midland company, Silvertip Completion Services Operating, a provider of wireline perforating and pumpdown services. Value of the transaction, which includes cash ($30 million), stock and assumed debt, is $150 million. ProPetro said […]