Austin-based Parsley Energy and Denver-based Jagged Peak Energy said Monday they have reached a merger agreement calling for Parsley to acquire Jagged Peak in an all-stock transaction valued at $2.27 billion. Parsley will own 77 percent of the combined company after closing in 2020Q1. Parsley will have about 267,000 net acres in Permian Basin, including […]
Shrinking the Footprint
The business of environmental services keeps evolving into something more akin to a real business function, and less like an onerous duty. The trend is driven partly by conscience and partly by receptivity to change. The days in which “environmental” was a dirty word in the oil patch are long gone, say the experts. More […]
Hire to Retire – “What were you thinking?”
by Michele Harmon As I start my second article, I wanted to remind you that my goal is to inform, to make you stop and think before reacting, and to help you know where to find the right answers to keep you out of hot water with regards to Human Resources (HR) issues. I hope […]
Ten Years in the Making
Midland-Odessa takes another step forward. The long-awaited UTPB College of Engineering Building is now a reality. One month. Four weeks. Thirty days. And counting. Workers scampered from one end of the building, from top to bottom, and all over the outside grounds in an all-out push to finish the new College of Engineering Building for […]
Road Safety
Welcome! I hope this August finds you happy and safe! Today I am going to broach the subject of the most dangerous and deadly part of our industry… Driving. I fully understand that the 40 hours of documented training that we received at the mature age of 16 to 18 years of age fully qualifies […]
Lease Prices, Demystified
In recent months some record dollar amounts have been paid for leases in the Permian Basin. In 2018 a Santa Fe firm that places bids for anonymous investors bid more than $95,000 per acre for a tract of U.S. government land on the New Mexico side of the Basin. That number was a record high […]
On the Front End
In this month’s roundup of news and views, we share some firsts and foremosts. The Basin is a fertile ground for superlatives and precedent-setters. These are the full versions of the “Drilling Deeper” news items that appeared as abbreviated versions in the print edition of PB Oil and Gas Magazine’s September 2019 issue. Longest Lateral […]
Concho Resources, Solaris Water form joint venture for produced water
Midland-based Concho Resources and Houston-based Solaris Water Midstream said July 31 they are forming a joint venture for produced water management in northern Delaware Basin. Concho is contributing 13 saltwater disposal wells and 40 miles of produced water gathering pipeline, and Solaris is contributing cash and an equity ownership in its parent company. Solaris will […]
Oxy forms JV with Ecopetrol to develop 97,000 net acres in Midland Basin
Houston-based Occidential Petroleum said last week it is forming a joint venture with Bogota-based Ecopetrol to develop 97,000 net acres of Oxy’s Midland Basin properties in Howard, Martin and Midland counties. Ecopetrol will pay $750 million in cash at closing and $750 million of carried capital in exchange for 49 percent interest in the JV. […]
Vision Shift
Unprecedented growth in the Basin calls for an extensive road plan overhaul. By Julie Anderson As a 37-year resident of Odessa and now Ector County’s chief administrative officer, County Judge Debi Hays is proud of the contribution the Permian Basin makes not only to the Lone Star State, but to the nation. In fact, she […]
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