The Woodlands-based Earthstone Energy told Enverus that its assets acquired recently from Delaware Basin operator Novo Oil & Gas will immediately compete for capital in Earthstone’s portfolio.  Earthstone and Northern Oil & Gas said June 15 they are acquiring Novo for $1.5 billion.  After closing in 2023Q3, Earthstone said it will move one of its […]

Houston-based private gas gatherer Pinon Midstream said last week it is expanding Dark Horse, its sour gas treating and carbon capture facility in Lea County, N.M.  Construction on a fully subscribed amine treating unit (Train III) is scheduled to begin in 2023Q3 with an in-service date of January 2024.  Pinon said it also has started […]

Moriarty, N.M.-based Sceye said it is testing a helium airship to detect and measure oilfield emissions in a partnership with U.S. Environmental Protection Agency and New Mexico’s departments of environment and economic development.  The airship hovers 65,000 feet above earth equipped with spectral imagers and laser sensors that Sceye said can scan emissions within a […]

Houston-based ConocoPhillips reported last week increased production in 2022Q1 as it continues to integrate and optimize recently acquired Permian Basin assets.  The record production of 1,747,000 boed (220,000 above 2021Q1) in Q1 included 967,000 boed in lower 48 and 640,000 boed in Permian Basin.  Q2 production is expected to be 1.67 to 1.73 million boed, […]

For the first time since March 2020, Baker Hughes reported a count of active oil and gas drilling rigs of at least 700 in U.S.  As of May 6, there were 335 rigs in Permian Basin (unchanged in past week, up 106 in past year), 344 in Texas (down 1 in past week, up 127 […]

Owners of Whistler pipeline said last week it will be expanded through the installation of three compressor stations.  The new stations will increase mainline capacity from 2.0 billion cfd to about 2.5 billion cfd and be in service by September 2023.  Whistler is owned by a consortium of MPLX, WhiteWater, and a joint venture of […]

The Woodlands-based Ring Energy said April 26 that 2022Q1 production averaged 8,870 boed (85 percent oil) – above high end of guidance of 8,500 to 8,700 boed in Permian Basin of west Texas and east New Mexico.  Ring’s one-rig program started in late January and drilled 6 wells (4 on Central Basin Platform and 2 […]

Houston-based Marathon Oil said last week it expects 2022 production to remain flat with 2021 averages.  In 2022Q1 production averaged 281,000 boed and 158,000 bod; 57 wells were brought online (consistent with guidance of 50 to 60 wells to sales).  Production in Eagle Ford for 2022Q1 was 53,000 bod and 80,000 boed with 28 wells […]

Midland-based Diamondback Energy said last week it remains committed to maintaining current oil and gas production levels.  Diamondback averaged 222.8 million bod and 381.4 boed in 2022Q1 with capex of $437 million.  Guidance for 2022 is 218,000 to 222,000 bod and 369,000 to 376,000 boed.  Diamondback plans to add 248 to 267 wells this year […]

Fort Worth-based HighPeak Energy recently said it is acquiring Midland Basin oil and gas assets of Midland-based Hannathon Petroleum for $255 million cash and stock.  The acquisition, valued at $373 million, will provide HighPeak with 18,600 net acres (100 percent operated) and about 150 net drilling locations (200 gross) contiguous to HighPeak’s Signal Peak position.  […]