Midland-based Viper Energy Partners, mineral and royalties affiliate of Diamondback Energy, said Aug. 9 it is acquiring mineral and royalties interests from Swallowtail Royalties and Swallowtail Royalties II in a stock and cash transaction valued at $498 million ($225 million cash). Viper will acquire 2,302 net royalty acres primarily in northern Midland Basin – 65 […]
Rig count reaches 500 in U.S. for first time in 16 months
Count of active oil and gas drilling rigs in U.S. reached 500 in the past week, according to Baker Hughes, for the first time since April 2020. Baker Hughes said as of Aug. 13 there were 500 rigs in U.S. (491 week ago, 244 year ago), 245 rigs in Permian Basin (243 week ago, 117 […]
U.S. Energy Development Corp. acquires assets in Reeves, Ward counties
Arlington-based U.S. Energy Development Corp. announced this week its second transaction in five days in Permian Basin. CEO and board chairman Jordan Jayson said Monday the latest addition is located in Reeves County in the Delaware Basin targeting Wolfcamp purchased for $14.1 million. “The Permian Basin continues to be an area where we actively pursue […]
Something So Simple!
Here lately, I have been reminiscing about my own trials and tribulations throughout my career regarding safety and the oil and gas industry. One of the key reasons I went into safety was the constant loss of life and limb. To this day, the highways are still the most dangerous thing we do as an […]
Who Has the Paddles?
In his book, Make Your Bed: Little Things That Can Change Your Life…And Maybe the World, retired four-star U.S. Navy Admiral William H. McRaven offers this recommendation: if you want to change the world, find someone to help you paddle. Three folks that many of you may not know but who have had oars in […]
Ovintiv increases production guidance, capital budget remains $1.5 billion
Denver-based Ovintiv said July 27 its Permian Basin production averaged 126,000 boed (82 percent liquids) in second quarter of 2021. The company averaged 3 gross rigs, drilled 21 net wells and had 33 net wells turned in line. Permian drilling and completion costs averaged $480 per foot year-to-date and are 11 percent lower than in […]
Matador reports record operational, financial achievements in Q2
Dallas-based Matador Resources reported July 27 its second quarter featured record operational and financial achievements, including a significant increase in net income and all-time quarterly highs for oil and natural gas production and revenues. Matador reported better-than-expected performance by 13 Voni wells in the Stateline asset area and by the Rodney Robinson wells in the […]
Texas Petro Index improves for third straight month
Texas Petro Index by Texas Alliance of Energy Producers gained again in June for the third straight month and fourth time in six months of 2021. The index prepared by economist Karr Ingham grew to 147.2 in June after 143.1 in May, 139.7 in April and 138.3 in March. The index started 2021 with 131.5 […]
Pioneer, Mewbourne, Devon lead Permian Basin in active drilling rigs
Pioneer Natural Resources dropped from 27 rigs to 23 in the past week, according to Enverus Aug. 5, but the Irving-based company continues to lead Permian Basin in count of active oil and gas drilling rigs. Other basin leaders include Mewbourne with 14 rigs and Devon Energy with 13. Across the Permian, Baker Hughes said […]
HollyFrontier acquires Sinclair Oil, forms new downstream parent company
Dallas-based HollyFrontier and Holly Energy Partners said Aug. 3 they are acquiring Sinclair Oil and Sinclair Transportation and forming a new downstream parent company, Dallas-based HF Sinclair Corp., in a transaction valued at $1.8 billion. HollyFrontier will acquire Sinclair’s branded marketing business and all commercial activities, renewable diesel business and two premier Rocky Mountain refineries. […]
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