Exus North American Holdings, the North American subsidiary of Madrid-based private equity firm Exus Management Partners, last week agreed to acquire a solar joint venture, New Mexico Renewable Development, for $230 million.  American Electric Power and PNM Resources each owns 50 percent interest in the solar JV and reportedly will equally divide the $230 million […]

Dallas-based Ellipsis U.S. Onshore Holdings said recently is acquired non-operated assets in three basins, including Permian.  Ellipsis is an affiliate of Houston-based investment firm Westlawn Group.  Purchase price was not disclosed for assets with current production of more than 6,000 boed with “significant operational upside associated with approximately 550 gross remaining locations.” The Permian assets […]

U.S., Texas and Permian Basin each posted small gains in rig count in the final week of 2023, but the counts for all three were down for the year.  Baker Hughes said as of Dec. 29 there were 622 rigs in U.S. (620 previous week, 779 year ago), 309 in Texas (306 previous week, 376 […]

U.S. Department of Energy said this week it has awarded contracts to three companies for a total of 2,993,692 barrels of U.S.-produced crude oil for the Strategic Petroleum Reserve at an average cost of $77.31 per barrel.  DOE has now purchased 13.83 million barrels of oil this year for the SPR at an average price […]