Houston-based Crestwood Equity Partners and Oasis Midstream Partners said Oct. 26 they agreed to merge in an equity and cash transaction valued at about $1.8 billion.  In Delaware Basin, Crestwood’s acquired assets include 40 miles of crude oil and 50 miles of produced water gathering pipelines in Loving, Ward and Winkler counties.  The assets complement […]

Amid forecasts for $100 oil next year, Midland-based Diamondback Energy said this week it expects to maintain 2022 production at current levels.  Travis Stice, CEO, said Monday, “We are committing to maintaining our fourth quarter 2021 Permian oil volumes throughout next year, and we believe this can be accomplished by spending the amount of capital […]

Oklahoma City-based Continental Resources said Wednesday it has agreed to acquire certain Permian Basin assets from Dallas-based Pioneer Natural Resources in an all-cash transaction valued at about $3.25 billion.  The assets include 92,000 net acres with net production of about 50,000 boed (35,000 b/d of oil), including more than 650 gross operated locations in third […]

U.S. and Texas idled drilling rigs in the past week, according to Baker Hughes, while Permian Basin added at least one rig for the 11th straight week.  As of Oct. 22, there were 268 rigs in Permian (up 1 in previous week and 135 in previous year), 249 rigs in Texas (down 1 in previous […]

Dallas-based Matador Resources and San Mateo Midstream said Oct. 20 they began operating a fifth drilling rig in August to drill an additional saltwater disposal well in Greater Stebbins area in Eddy County, N.M.  The well and associated facilities were needed to handle additional produced water resulting from Matador’s increased drilling and completion activity.  Drilling […]

Rattler Midstream, subsidiary of Midland’s Diamondback Energy, said Oct. 21 it agreed to purchase water midstream assets from subsidiaries of Diamondback for $160 million in cash in a drop-down transaction.  The assets consist primarily of produced water gathering and disposal systems, produced water recycling facilities, and sourced water gathering and storage assets acquired by Diamondback […]

Oil production in Permian Basin is forecast to grow to 4.888 million b/d in November from 4.826 million b/d in October, according to the drilling productivity report of Oct. 18 by U.S. Energy Information Administration.  Five of the seven major producing regions are expected to increase oil production next month with overall growth of 77,000 […]

Altus Midstream said Oct. 21 it will combine with BCP Raptor Holdco in an all-stock transaction to create a pure-play Permian Basin midstream company valued at $9 billion.  BCP is the parent company of Midland’s EagleClaw Midstream, which includes EagleClaw Midstream Ventures, Caprock Midstream, Pinnacle Midstream and 26.7 percent interest in Permian Highway pipeline.  Altus […]