Post Oak Minerals V, affiliate of Houston-based Post Oak Energy Capital, said last week it has completed 10 acquisitions this year primarily in Permian Basin totaling more than $475 million. The assets include more than 27,400 net royalty acres of mineral and royalty interests in Permian Basin and 24,000 net royalty acres in Midland Basin […]
Permian Basin’s rig count falls to 303, lowest in 30 months
Baker Hughes continues to report declining counts of active oil and gas drilling rigs in U.S., Texas and Permian Basin. In its weekly report of Aug. 2, the Houston-based services firm said there were 586 rigs in U.S. (down 3 from previous week, down 73 from year ago), 274 in Texas (down 2 from previous […]
Blackcomb pipeline will deliver natural gas from Permian to Agua Dulce
WhiteWater Midstream, MPLX and Enbridge said last week they have partnered with an affiliate of Targa Resources to reach final investment decision on Blackcomb natural gas pipeline. The 2.5-billion-cfd pipeline will run 365 miles from Permian Basin to Agua Dulce hub in south Texas. The joint venture secured sufficient firm transportation agreements, and shippers include […]
Bit by Bitcoin
Sometimes at the convergence of two problems there is a solution. The fact that Permian oil wells are getting gassier (setting new production records regularly) and straining gas takeaway capacity is one—and issues with massive grid demands of bitcoin mining and data processing is the other. Increasingly, producers are seeking alternative markets for gas, and […]
ArcLight Capital Partners acquires wind farm in Midland Basin
Boston-based infrastructure investment firm ArcLight Capital Partners said Monday it launched a renewables energy investment group and acquired an operating wind farm of 160 megawatts in Midland Basin. ArcLight and renewables group SkyVest said they will target operating utility-scale wind and solar assets in North America. ArcLight said it is providing an initial commitment of […]
Chevron to move corporate headquarters to Houston from San Ramon
Chevron said today it is moving its headquarters from San Ramon, Calif., to Houston. Chairman and CEO Mike Wirth and vice chairman Mark Nelson will move by yearend 2024. Chevron will maintain its San Ramon office to manage its California assets. The company has about 7,000 employees in the Houston area and 2,000 in San […]
Railroad Commission inspecting disposal wells after earthquakes, shut-in 2 wells
Railroad Commission of Texas said July 26 it is inspecting saltwater disposal wells within 2.5 miles of a series of earthquakes in recent days in the Camp Springs area near the county line of Scurry and Fisher in west Texas. And this week the commission told the Midland Reporter Telegram it “shut-in two deep disposal […]
Vital Energy, Northern acquire Point Energy Partners assets in Ward County
Tulsa-based Vital Energy and Northern Oil and Gas said Sunday they are acquiring assets of Point Energy Partners, portfolio company of Vortus Investments. The all-cash deal of $1.1 billion will increase Vital Energy’s position in Delaware Basin by 25 percent to 84,000 net acres. Vital Energy will own 80 percent of the assets with Northern […]
Permian People – August 2024
Hirings, promotions, and other personnel matters in the nation’s biggest oil patch—or in companies who do business here. Kimmeridge, an alternative asset manager focused on the energy sector, announced June 25 that its affiliate, Kimmeridge Texas Gas, has appointed David Lawler as chief executive officer. Lawler will advance KTG’s efforts to become a fully integrated […]
Danos Wins Major Contract in the Permian Basin
Danos, a provider of integrated services to the energy industry, announced in June a production contract with a pioneer in sustainable water management solutions. Through a contract that began in March, they will oversee approximately 60 of the midstream company’s water management facilities. Danos is deploying a team of 21 production operators to support 12 […]
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