Permian Basin and Texas reported declining rig counts while U.S. and New Mexico reported stable counts in Baker Hughes’ weekly report of Nov. 1.  There were 303 rigs in Permian Basin (down from 304 week ago and 310 year ago) and 281 in Texas (down from 283 week ago and 304 year ago).  New Mexico […]

Tulsa-based Alliance Resource Partners said last week it closed acquisitions of $10.5 million in Permian Basin in third quarter.  Joseph W. Craft III, chairman, president and CEO, said Oct. 28, the company realized another solid quarter of year-over-year growth in its oil and gas royalties business.  “We continue to reap the benefits of a minerals […]

Houston-based ConocoPhillips said last week its record lower 48 production of 1,147,000 boed in third quarter included 781,000 boed from Permian Basin.  Total company 3Q production was 1,917,000 boed.  The lower 48 total also included 246,000 boed from Eagle Ford and 107,000 boed from Bakken.  Ryan Lance, chairman and CEO, said Oct. 31, “ConocoPhillips continues […]

Midland-based Diamondback Energy will trade certain of its Delaware Basin assets and pay about $238 million in cash to TRP Energy in exchange for TRP’s Midland Basin assets.  TRP’s Midland Basin assets are comprised of 15,000 net acres in Reagan and Upton countries with 55 remaining undeveloped operated locations – the majority of which immediately […]

Houston-based Enterprise Products Partners said this week it completed its previously announced acquisition of Pinon Midstream, formerly a portfolio company of Black Bay Energy Capital.  Enterprise purchased Pinon for $950 million cash in a debt-free transaction.  The acquired assets, which include natural gas gathering and treating services, expand Enterprise’s footprint in the eastern flank of […]

Midland-based Warrior Technologies said last week it acquired Lobo Trucking to expand its footprint into the Delaware Basin of west Texas and southeast New Mexico.  H.H. (Tripp) Wommack III, president and CEO, said, “The motivation for Warrior to buy Lobo was we wanted to expand into the Delaware Basin.” Wommack said the acquisition gives Warrior […]

Dallas-based Spicewood Mineral Partners said last week its recent acquisitions of tier 1 mineral assets in Permian Basin reflect “a strategic blend of early-life and more mature assets.”  John Golden, co-founder and partner, announced on Oct. 22 a series of five deals in Delaware and Midland basins, including assets in Reeves and Ward counties.  They […]

Denver-based Civitas Resources said recently – after making a “transformative entrance” into the Permian Basin last year – it has drilled 120 gross wells so far in 2024 with average lateral length of 2.2 miles and production of 344,000 boed.  Its 2023 acquisition gave Civitas operating scale in two of the nation’s lowest breakeven shale […]