Thank you to all those who sponsored or attended the PBPA Annual Meeting at the end of September. We were thrilled to welcome back everyone to an in-person meeting, and it was so great to see so many of you. There were too many faces that I hadn’t seen in person for quite some time, […]
Using existing data to create efficient, accurate subsurface models
Derive better subsurface insights regardless of data quantity Many of today’s most prolific wells were previously considered economically or technologically unviable. As wells become increasingly complex and the energy industry continues to push the boundaries of exploration and production innovation, E&P companies must achieve exceptional levels of operational efficiency and productivity to be successful. Operating […]
Permian Basin only major producing region to add rigs last week
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 […]
Matador Resources adds fifth drilling rig in New Mexico
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 acquires water midstream assets from Diamondback subsidiaries
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 forecast for 4.888 million b/d in November
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, EagleClaw combine to form pure-play Permian midstream company
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 […]
A Rebound Taking Shape?
Sooner or later, oil comes to the surface. It’s true in the world of nature. Any spillage of oil or gasoline on a lake or pond will float above the water. It’s true in the world of subsurface geology. Crude oil wants to rise to the surface of the earth. That’s why “traps” and anticlines […]
Elk Range Royalties acquires 2,600 net royalty acres in Permian Basin
Dallas-based Elk Range Royalties said Oct. 6 it has acquired Permian Basin royalty interests from an undisclosed seller. The assets include about 2,600 core net royalty acres in Delaware and Midland basins – primarily in Loving, Midland, Reeves and Upton counties in Texas and Lea County, N.M. The acreage includes about 250 producing horizontal wells […]
Permian adds rigs for tenth straight week, output reaches 4.8 million b/d
Permian Basin’s streak of consecutive weeks to add drilling rigs reached 10 as of Oct. 15, according to Baker Hughes. There were 267 rigs in Permian Basin (266 week before, 130 year before), 250 rigs in Texas (247 week before, 123 year before), 85 rigs in New Mexico (86 week before, 45 year before) and […]
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