Denver-based Cimarex Energy said it also is realizing improved well productivity through relaxed spacing in Delaware Basin. In Reeves County, Cimarex’s Dixieland and Big Sky developments with spacing of 8 wells per section are outperforming legacy projects of 12-to-14 wells per section. Thomas Jorden, chairman and CEO, said benefits include enhanced capital efficiency, reduced operational […]
Laredo acquiring 20,000 net acres in Glasscock County from Pioneer
Tulsa-based Laredo Petroleum said this week it is acquiring about 20,000 net acres in western Glasscock County from Pioneer Natural Resources for about $230 million ($160 million cash). The leasehold to be acquired is adjacent to Laredo’s existing western Glasscock assets, it increases its high-margin, oil-weighted inventory by 50 percent, and it expands its core […]
ConocoPhillips acquires Permian assets of Shell to become No. 2 producer
Houston-based Shell Enterprises, subsidiary of Royal Dutch Shell, said Monday it reached agreement for the sale of its Permian Basin business to ConocoPhillips for $9.5 billion. The transaction will transfer all of Shell’s assets in Permian Basin to ConocoPhillips. Shell’s Permian business includes ownership of about 225,000 net acres on the Texas side of the […]
Winning With LO/TO
Greetings and salutations! Or as we just say in Texas, “Hello again!” Every year, regardless of the industry, numerous people are killed each year by not practicing Lockout Tagout, also known as LO/TO, not LOTTO. This is one of the easiest things to do in our industry and yet it is often overlooked. It is […]
A Down-to-Earth Approach
The year 2020 was hard for most people and companies, and Bright Sky Environmental was not spared, said founder and president Kat Galloway. “All of our clients paused or pulled the plug on their projects with us, as they dealt with the oil price collapse and handling their own finances. So they didn’t have the […]
Railroad Commission again exceeds goal for plugging orphaned wells
Railroad Commission of Texas said Monday for the fifth straight year it exceeded its goal of plugging orphaned wells. RRC said 1,453 orphaned wells were plugged in fiscal year 2021 – above the goal of 1,400. Clay Woodul, director of field operations, said, “Our plugging staff in the district offices deserve credit for staying on […]
U.S. rig count returns above 500; Texas, Permian Basin add rigs
U.S. count of active drilling rigs returned to at least 500 rigs as of Sept. 10, according to Baker Hughes, after falling below 500 the previous week because of Hurricane Ida. There were 503 rigs in U.S. (497 previous week, 254 previous year), 254 rigs in Permian Basin (250 previous week, 124 previous year), 235 […]
Enbridge acquires Moda Midstream, including Ingleside Energy Center
Calgary-based Enbridge said Sept. 7 it agreed to acquire Moda Midstream Operating for $3 billion from EnCap Flatrock Midstream to enhance its U.S. Gulf Coast oil export capacity. WorldOil reported, “Enbridge, which already handles about a quarter of all crude produced in North America, is betting on a strong outlook for exports of oil pumped […]
Nabors Industries launches automated drilling rig in Midland County
Houston-based Nabors Industries recently launched a robotic drilling rig in Midland County. Travis Purvis, senior vice president, told Midland Reporter Telegram and KOSA-TV in Odessa last month that the new PACE R801 rig is the industry’s first automated land drilling rig using technology optimized for drilling automation, including robotic pipe handler. Purvis said there is […]
U.S. Energy Development acquires assets in Loving County for $50 million
Arlington-based U.S. Energy Development Corp. said Sept. 8 it acquired a $50 million asset in Loving County in the core of the Delaware Basin. The project includes wells targeting third Bone Spring, Wolfcamp A and Wolfcamp XY. U.S. Energy said it has invested $135 million in Permian Basin in the past year. This is the […]
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