The shale revolution of the previous decade began with mantras of “drill, baby, drill,” interspersed with “spend, baby, spend,” and “buy small, grow fast, sell big, make money!” That didn’t work, as the resulting river of shale oil flooded the market and crashed prices. Only a lucky few made big money on that plan. […]
Merging Traffic
Upstream merger and acquisition activity in the Permian Basin and in the oil business overall reached record heights in 2023, and that frenzy of activity extended as well to the oilfield services sector (OFS). In the first half of 2024 hardly a day passes without at least one announcement of a deal totaling tens of […]
To Make One’s Own Way
With Permian merger and acquisition activity on steroids in Q4 2023, consolidation of resources is becoming a necessary tool for staying on top of the game for E&P companies. In response, service companies are making changes of their own. For J&S Oilfield, the decision was to join forces with Fife Services, a company with which […]
Midland’s ProPetro acquires Par Five Energy Services to add Delaware Basin
Midland-based ProPetro Holding said recently it acquired assets and business operations of Artesia, N.M.-based Par Five Energy Services. Par Five specializes in cementing services in Delaware Basin, and its business complements ProPetro’s existing cementing business in Midland Basin. Sam Sledge, CEO of ProPetro, said Dec. 4, “The transaction is … highly complementary to our current […]
Permian E&P Closes Equity Commitment
(BUSINESS WIRE) Swordfish Energy Holdings, LLC, announced the closing of an equity commitment from Dallas-based investment firm, Pearl Energy Investments. Based in Houston, Texas, Swordfish is an exploration and production company focused on acquiring and developing oil and gas assets in the Permian Basin. The Swordfish management team is led by Marcos Briceno and Patrick […]
VTX Energy Partners acquires additional acreage in southern Delaware Basin
VTX Energy Partners, upstream company of Vitol, said Monday it will acquire 12,000 net leasehold acres contiguous with the Delaware Basin Resources position it acquired in March. The deal brings its total southern Delaware Basin position to 47,000 net acres. VTX said it agreed to acquire assets comprised of leasehold, production and associated water infrastructure […]
Stallion Gets Re-branded
Stallion Oilfield Services announced in April its rebranding as Stallion Infrastructure Services. As a provider of workforce accommodations for the oil and gas industry, the company has made it clear that while its name has changed, its level of commitment to the sector remains steadfast. In addition to the rebrand, Stallion Infrastructure Services will be […]
Garrison Energy Holdings, new E&P company, launches in Midland
A new Midland-based exploration and production company has started with a $500 million line of equity financing from an unidentified institutional investor to pursue opportunities in Permian Basin. Garrison Energy Holdings will consider deals in Delaware and Midland basins, central basin platform and northwest shelf. Caleb Weatherl is CEO, and his father Steve is executive […]
New Mexico BLM office conducts lease sale that nets $78.8 million
New Mexico field office of Bureau of Land Management conducted a lease sale last week on 45 parcels of land in Chaves, Eddy and Lea counties in New Mexico and Cheyenne County in Kansas on public lands managed by BLM field offices for Carlsbad, Roswell and Oklahoma. BLM said 37 parcels totaling 8,596.25 acres sold […]
Western Midstream to construct gas processing plant in Loving County
Houston-based Western Midstream Partners said last week it will construct a new cryogenic natural gas processing plant in Loving County in its west Texas gathering, processing and treating complex in Delaware Basin. The proposed plant, expected to be in service by yearend 2024, will have processing capacity of 250 million cfd. Western Midstream said expansion […]
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