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 […]
The Human Factor in Oilfield Services
Whatever the powerful machines, the deep holes, or the unfathomably complex technology, the oil patch revolves around its people. For Cudd Energy Services, that means giving their people the tools and training to be efficient, accurate, and safe. For JMR Services, it means helping producers efficiently and safely plug abandoned wells to protect the air, […]
Enterprise Products Partners completes purchase of Pinon Midstream
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 […]
Warrior Technologies acquires Lobo Trucking in Hobbs, Artesia
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 […]
Spicewood acquires mineral assets in Permian Basin
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 […]
Civitas Resources building scale in Permian, DJ basins
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 […]
OFS Prices Expected to Bottom Out by Year’s End
Enverus Intelligence Research, a subsidiary of Enverus, an energy-dedicated SaaS company, released on Oct. 1 its Oilfield Services Market Fundaments report that examines supply and demand dynamics in each service line. EIR also forecasts changes in year-end costs to coincide with E&P budgeting season. “We believe activity has bottomed and oilfield service price will bottom […]
Why the Universe of Energy Lenders Might be Shrinking
By Mari Salazar, SVP, Manager, Energy Banking and Cameron Reed -VP, Loan Syndication Consultant, BOK Financial It’s a whole new world for energy banking. The universe of dedicated energy lenders has declined over the past decade, and lenders are settling into the new energy banking landscape. Some 20 years ago there were more than […]
AI Comes to Unmanned Aircraft Systems
Eyes in the sky are now becoming intelligence in the sky as well. Artificial intelligence. The firm known as Cyberhawk has advanced the frontier by another step with its introduction of AI-powered UAS (unmanned aircraft system) inspections. Cyberhawk, specialists in drone-based inspection and survey services and visual data management software, announced on Oct. 2 a […]
In Praise of the Season
Did we say that the season is deer season? We celebrate this special time of the year with tales both heartwarming and humorous. The month of November is—in Texas at least—marks the beginning of deer season for hunters using firearms (as opposed to bows). It’s the month when deer hunting reaches its heights of attention, […]
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