Fort Worth-based Split Rock Resources said last week it acquired non-operated assets in Permian Basin from a private seller for cash purchase price of $97.5 million.  The acquisition includes non-operated assets in Eddy and Lea counties in New Mexico in Delaware Basin and in Glasscock County in Texas in Midland Basin.  The assets, which currently […]

The Woodlands-based Evolution Well Services last week announced a long-term electric hydraulic fracturing contract with a Permian Basin operator to begin in 2022Q4.  The contract will employ Evolution’s “patented electric fracturing technology coupled with an innovative Simul-frac completions technique.”  The technology will be fueled 100 percent by natural gas via aero-derivative turbines rather than conventional […]

Oil and gas drillers emerged from the holidays by adding rigs in most basins and producing states during the second week of January.  Baker Hughes said as of Jan. 14 there were 293 rigs in Permian Basin (292 week ago, 189 year ago), 281 in Texas (274 week ago, 169 year ago), 95 in New […]

Fort Worth-based HighPeak Energy, Midland Basin pure play, said its 2022 plans include a four-rig program to bring 80 to 100 wells online in Howard County (60 to 75 percent in Flat Top area).  The company expects to spend $610 million to $660 million for drilling, completions, equipping and facilities in its 2022 overall capex […]

Dallas-based Lucid Energy Group said last week the U.S. Environmental Protection Agency approved its monitoring, reporting and verification plan to store carbon dioxide from its Red Hills complex in northern Delaware Basin in Lea County.  The carbon capture and sequestration project will permanently store emissions in existing and permitted disposal wells.  One of the largest […]

U.S. Energy Information Administration forecast more than 5 million barrels per day in crude oil production in Permian Basin for the second straight month.  EIA expects production of 5.076 million b/d for February – up 80,000 b/d from 4.996 million b/d in January.  EIA had forecast 5.031 million b/d for January – its first monthly […]

Denver-based Desert Peak Minerals and Houston-based Falcon Minerals said last week they agreed to combine in an all-stock transaction that values the combined enterprise at $1.92 billion with significant footprint in Permian Basin and Eagle Ford.  Their announcement Jan. 12 said Desert Peak equity holders will own 73 percent of the combined company, which will […]

Texas Oil & Gas Association said this week the state’s oil and gas industry paid $15.8 billion in state and local taxes and state royalties in fiscal year 2021 – funds that directly support Texas schools, universities, roads, infrastructure and other essential services.  TXOGA released the data Tuesday in Austin.  Payments last year increased 14 […]