Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

Devon Merges with WPX

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Devon Energy and WPX Energy announced Sept. 28 they have entered into an agreement to combine in an all-stock merger of equals transaction. The strategic combination will create a leading unconventional oil producer in the United States, with an asset base underpinned by a premium acreage position in the economic core of the Delaware Basin. […]

Blackbuck Acquires Water Infrastructure In Transaction with Cimarex Energy

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Blackbuck Resources LLC, which designs, builds, and operates water infrastructure, announced it has closed on a transaction to purchase Cimarex Energy Co.’s Whites City water infrastructure in Eddy County, N.M. The acquired assets include approximately 65 miles of pipeline and 100,000 barrels per day of installed and permitted disposal capacity. As part of the sale, […]

Barnett Deal Brings $570 Million

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Banpu Kalnin Ventures Corporation confirmed Oct. 2 that its affiliate, BKV Barnett LLC, closed its deal to acquire Devon Energy Corporation’s assets in the Barnett Shale on Oct. 1. The cash deal provides $570 million for the Barnett assets and up to $260 million in contingent payments over the next four years, based on oil […]

Almost $14 Billion for Pipelines At Risk in Post-COVID Recovery

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Delays, obstruction, or cancellation of pipeline infrastructure projects are threatening at least $13.6 billion in economic activity, over 66,000 jobs and more than $280 million a year in state and local tax revenue at a time when America’s financial recovery from COVID-19 requires more investment and tax revenue, a new Consumer Energy Alliance report finds. […]

COVID-19 Impacts Industry’s Digital Technology Needs

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Ninety percent of oil and gas executives agree that investment in technology and workforce are essential to surviving current market conditions, according to a new Ernst Young survey: Oil and Gas Digital Transformation and the Workforce Survey 2020.” In fact, some 58 percent of respondents said the COVID-19 pandemic has made investing in digital technology […]

Is Upstream O&G Consolidation Really Needed?

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By Steve Hendrickson, Opportune/Ralph E. Davis Associates During the last two years, many observers, including me, have suggested that consolidation is needed in the upstream oil and gas industry. Logically, it’s the right response to a commodity-based business exiting a high-growth phase and facing low prices. If you can’t control prices, the thinking goes, then […]

Matador, affiliate San Mateo expect record production, revenue in 2020Q4

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Dallas-based Matador Resources and midstream affiliate San Mateo said Tuesday they expect “Matador’s oil, natural gas and total production and San Mateo’s revenues to reach record levels” in 2020Q4 as a result of recent operations. Matador completed and turned to sales the first 6 Rodney Robinson wells in Antelope Ridge and the first 5 Ray […]

Concho Resources averaged 201,000 b/d of oil production in 2020Q3

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Midland-based Concho Resources, which last week agreed to be acquired by ConocoPhillips, said Tuesday that 2020Q3 oil production averaged 201,000 barrels per day. Natural gas production for 2020Q3 averaged 716 MMcfd. Total production for the quarter was 320,000 boed. Concho said it will not conduct an investor conference call for 2020Q3 because of the pending […]

Ring Energy restores production to within 15 percent of 2020Q1

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Midland-based Ring Energy said Tuesday it restored production to 9,219 boed (88 percent oil) in 2020Q3 by increasing third quarter net daily production by 70 percent compared to 2020Q2. Production volumes in 2020Q2 were negatively impacted by Ring’s response to the pandemic-induced oil price collapse. Ring said production in 2020Q3 was within guidance range and […]

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