Midland-based Blackbeard Operating reportedly agreed May 21 to deal certain of its upstream assets in Barnett Shale to Birmingham, Ala.-based Diversified Energy for gross purchase price of $180 million. Diversified said May 28 that “the Blackbeard acquisition represents an attractive entry point into the Barnett Shale and an extension of the company’s presence in its […]
Growth slows in Permian, Texas rig count; New Mexico adds 2
Growth in rig count in Permian Basin and Texas has slowed – adding only 3 rigs in Permian Basin and falling by 1 rig in Texas in the last 4 weeks. Baker Hughes said as of June 4 there were 232 rigs in Permian (233 last week, 141 last year), 216 in Texas (218 last […]
Surge Energy completes dual fuel project in Howard County
Houston-based Surge Energy said June 3 it recently completed a multi-zone project in the Moss Creek field in Howard County using dual fuel completions. The project included a 5-well pad with a compressed natural gas and diesel dual fuel system that yielded greenhouse gas emissions reduction of about 845 metric tons of CO2e emissions. Surge […]
Midland’s Colgate Energy Partners acquires Delaware driller Luxe Energy
Midland-based Colgate Energy Partners, portfolio company of Natural Gas Partners, said June 1 it agreed to acquire most of the assets of Delaware Basin driller Luxe Energy in an all-stock deal. Colgate acquired 22,000 net acres adjacent to its existing position in Reeves and Ward counties with current average net production of 17,000 boed, about […]
Independence Energy, Contango Oil & Gas to merge in all-stock deal
Permian Basin operators Independence Energy of Houston and Contango Oil & Gas of Fort Worth said Tuesday they have agreed to merge in an all-stock transaction to create a diversified, low-leverage independent oil and gas company with low-decline producing properties and low-risk growth opportunities. Value of the new entity is $5.7 billion with net debt […]
Safety Man Puts out Fire; News at 10!
As I was leaving my office that was downtown, and going to an adjacent building, I looked over by the smoking area outside, and there was a medium-sized fire! Being the safety professional I am, I assessed the situation. It appeared to be a fire in the plastic 5 gallon bucket used for cigarette butts. […]
Positive Thinker
Any kid growing up in northern Louisiana around Shreveport is immersed in the oil and gas business like a fish in the water. Such was the upbringing of Gravity Oilfield Services President and CEO Rob Rice. “Up in those areas, that’s just kind of what everybody did,” Rice recalled, so it’s not surprising that he […]
87th Legislature Adjourns Sine Die
While COVID-19 cast a shadow over the opening of the 87th Texas Legislature, the dramatics of the closing days thrust Texas into the national spotlight with Gov. Greg Abbott vowing to veto the section of the state budget that funds the legislative branch after the voting restrictions bill failed to pass. Senate Bill 7, a […]
“Cautious producers” continue to add rigs in Permian, Texas, U.S.
Eddy County, N.M., has replaced Lea, N.M., as the Permian Basin’s most active county for oil and gas drilling rigs. Eddy added 2 rigs in the past week for a new total of 37, and Lea was down 3 rigs to 34. Other Permian leaders as of May 28 were Midland with 31 (down 1), […]
Callon conducts first completion using all-electric fleet in Howard County
Houston-based Callon Petroleum said May 5 it initiated its first completion utilizing an all-electric hydraulic fracturing fleet near the end of 2021Q1 in Midland Basin. The project deployed more than 160 completion stages with 10,000-foot laterals across 3 wells targeting lower Spraberry and Wolfcamp A and B in northwest Howard County. Callon’s announcement said, “The […]
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