Tulsa-based Empire Petroleum said May 18 it acquired producing oil and gas assets and related gathering assets in Lea County, N.M., through its subsidiary Empire New Mexico. The assets were acquired from ExxonMobil’s XTO Holdings. The acquisition is comprised of about 700 gross oil, gas and injector wells that encompass about 40,000 net acres of […]
Oasis to divest Permian acreage to focus on Williston Basin
Houston-based Oasis Petroleum said May 20 it is divesting its Permian Basin assets to focus on its core in Williston Basin. Buyers were not named by Oasis for three transactions with gross potential consideration of $481 million, including $406 million at closing. The transactions include 24,000 net acres and 2021Q1 production of 7,200 boed. Oasis […]
What Have We Been Up To?
The Permian Basin Petroleum Association has represented the oil and natural gas industry of West Texas and Southeast New Mexico for 60 years. In that time, the leadership and staff of the PBPA has changed and evolved to represent the Association’s membership and needs. Today, PBPA is led by President Ben Shepperd, and a full-time […]
Occidental reports 457,000 boed in 2021Q1 in Permian Basin
Houston-based Occidental Petroleum said May 10 its 2021Q1 production in Permian Basin of 457,000 boed was high end of guidance. Oxy reported record single-well drill times in both New Mexico and Texas sides of Delaware Basin and also in Midland Basin. Oxy ran 12 rigs in Permian in Q1 and brought online 44 wells with […]
Commission completes cleanup of waste disposal site in Ector County
Railroad Commission of Texas said May 17 it recently completed a four-year project to clean the Wheeler Road Westex Notrees surface waste disposal facility near Odessa. The $9 million remediation work began in 2017 to clean the site with five waste pits that operated until 2012 in Ector County. The commission said it removed 204,000 […]
Rig counts continue small increases in U.S., Permian Basin
Higher crude prices continue to boost the counts of oil and gas drilling rigs in U.S. and Permian Basin. Baker Hughes said in its weekly report May 14 there were 453 rigs in U.S. (448 last week, 339 last year) and 231 rigs in Permian (229 last week, 175 last year). In the past year, […]
Devon Energy’s Danger Noodle wells in Lea County deliver 5,100 boed
Oklahoma City-based Devon Energy said May 4 its 2021Q1 results included oil production of 172,000 b/d in Delaware Basin – an increase of 19 percent over 2020Q1. The growth was driven by 52 wells that commenced first production in Q1 across Devon’s acreage position (well costs of $534 per lateral foot). Devon said the top […]
Ranger acquires Patriot Well Solutions to expand wireline business
Houston-based Ranger Energy Services said May 17 it is acquiring Patriot Well Solutions in an all-stock transaction to expand Ranger’s wireline business in Permian, Bakken, DJ and Powder River basins. Darron Anderson, CEO of Ranger, said, “Patriot brings an extremely talented and technical team to the Ranger family along with an asset base of 22 […]
Laredo Petroleum acquires Sabalo assets in Howard County
Tulsa-based Laredo Petroleum said May 9 it is acquiring the assets of Sabalo Energy and a non-operating partner in Howard County for about $715 million. Sabalo is a portfolio company of EnCap Investments. The assets include 21,000 contiguous acres with proved developed producing reserves of about 30 million boe and current production of 14,500 boed. […]
PBPA Stepped Up in the Face of February’s Winter Storm
Leaving nearly three million households without power, Winter Storm Uri swept across Texas in February, and was one of the most devastating winter events in decades. Almost immediately, experts began pointing fingers, looking for a culprit that let the state’s energy grid go dark. But as the events were unraveling in real-time, our Permian Basin […]
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