Drilling rig counts in Permian Basin, Texas and U.S. posted sizable gains in the past week, according to Baker Hughes, amid reports from CERAWeek in Houston March 7-11 that federal officials are calling for more energy production and industry officials are saying supply chain problems could limit production.  As of March 11, there were 316 […]

Houston-based APA Corp., holding company for Apache Corp., said Monday it closed on two transactions generating net proceeds of more than $1 billion.  APA subsidiaries completed a sale March 7 of Delaware Basin mineral interests to undisclosed buyer with estimated production of 7,000 boed for $805 million, and March 11 an APA subsidiary completed sale […]

Oil production in Permian Basin is forecast to reach a record 5.208 million barrels per day in April by U.S. Energy Information Administration.  EIA said in its drilling productivity report March 14 that Permian Basin will produce an additional 70,000 b/d in April after 5.138 million b/d in March.  U.S. production for seven major regions […]

Houston-based Coterra Energy said last month it is drilling the largest 3-mile Wolfcamp development in the Delaware Basin.  Enverus reported that Coterra’s 14-well Prewit-Justify/Authentic development (50 percent working interest) will have laterals averaging 15,750 feet and utilize 8-well-per-section spacing.  Coterra predecessor Cimarex Energy reportedly completed only one Permian lateral of more than 15,000 feet (seven […]

Doug Ackerman, CEO of the Dairy Alliance that promotes the nation’s dairy industry, has been named president and CEO of the New Mexico Oil and Gas Association.  NMOGA said March 1 that Ackerman will assume his new role immediately to replace interim president and CEO Leland Gould, who began serving in March 2021 after the […]

Incumbent commissioner Wayne Christian, chairman of the Railroad Commission of Texas, will face oil and gas attorney Sarah Stogner in a runoff election in the Republican primary May 24.  In the March 1 primary, Christian received 47 percent of votes to fall short of the 50 percent needed to gain the party’s nomination for a […]

For the first time this year, U.S. failed to report an increase in Baker Hughes’ count of active oil and gas drilling rigs.  As of March 4 there were 310 rigs in Permian Basin (up 1 in previous week, up 99 in previous year), 308 in Texas (down 4 in previous week, up 106 in […]

Fort Worth-based HighPeak Energy said Feb. 22 it is acquiring oil and gas properties contiguous to Flat Top in Borden and Howard counties from private sellers in deals valued at $160.6 million.  Midland Basin pure play HighPeak is adding about 9,500 net acres with estimated production of 2,500 boed along with 40 horizontal drilling locations, […]