Houston-based Occidental Petroleum said recently its forecast for 2024 fullyear production remains 1,290,000 to 1,340,000 boed.  In its second quarter report, Occidental said its 2Q production was 1,258,000 boed – up from 1,172,000 boed in 1Q.  Oxy’s 2Q production in Permian Basin (587,000 boed) and Gulf of Mexico both exceeded midpoint of guidance.  U.S. oil […]

T. Grant Johnson of Houston this week was named chairman of the board of directors for Texas Independent Producers and Royalty Owners Association. Johnson has worked more than 40 years in the energy industry and most recently served as president of Lone Star Production Co., a privately-owned corporation founded in 1991 to conduct exploration and […]

Houston-based H2O Midstream and private equity firm EIV Capital said recently they agreed for H2O Midstream to be acquired by Delek Logistics Partners.  H2O Midstream provides gathering, transportation, recycling, storage and disposal solutions for produced water in Howard County.  EIV Capital and H2O Midstream partnered in 2016 to pursue produced water midstream opportunities in Permian […]

Houston-based Enterprise Products Partners said this week an affiliate is acquiring Pinon Midstream in a debt-free transaction for $950 million cash.  Pinon Midstream provides natural gas gathering and treating services in the core of the eastern Delaware Basin in southeastern New Mexico and west Texas.  Pinon’s assets include 50 miles of natural gas gathering and […]

Private equity investment firm Bernhard Capital Partners said last week it agreed to acquire New Mexico Gas Co., wholly owned operating company of Halifax-based Emera, in a transaction valued at $1.252 billion. The deal includes $500 million of debt. Scott Balfour, president and CEO of Emera, said Aug. 6, “New Mexico Gas is a strong […]

Houston-based ConocoPhillips said recently its second quarter production in Permian Basin was 748,000 boed – an increase of 1.6 percent from 736,000 in first quarter. And it’s up 6 percent from 2023Q2. ConocoPhillips has about 800,000 net acres in Permian Basin, including 87,000 net acres in Delaware Basin and 58,000 unconventional net acres in Midland […]

Spring-based ExxonMobil reported record production in second quarter after its acquisition of Pioneer Natural Resources closed in May. Exxon said Aug. 2 it achieved production of 680,000 boed from its heritage footprint in Permian Basin in 2Q. The $63 billion Pioneer deal gave Exxon greater scale and drilling runway in Permian Basin. Darren Woods, chairman […]