Permian Basin reported 303 drilling rigs for the fourth straight week, and Texas defied the national trend by adding 2 rigs in the past week.  Baker Hughes said in its weekly report of Nov. 22 that there were 281 rigs in Texas (279 last week, 303 year ago), 102 in New Mexico (unchanged in past […]

Houston-based LandBridge announced last week the closing of its previously announced acquisition of about 5,800 largely contiguous surface acres in Lea County, N.M.  It expands LandBridge’s holdings into a new area of the Delaware Basin that supports existing water infrastructure.  LandBridge said, “The acreage is well-positioned to drive further revenue growth through additional water infrastructure, […]

Carbon capture and removal project developers Return Carbon and Austin-based Verified Carbon last week announced plans for Project Concho, direct air capture hub to be built in Tom Green County. Project Concho will be the first DAC hub to run entirely on wind power; it will leverage advanced DAC technology and onsite geological carbon storage […]

Dallas-based private equity firm Tailwater Capital said recently it acquired off-market, non-operated, working interest assets in Permian Basin from Accelerate Resources Operating.  The acquisition includes more than 5,000 net leasehold acres in the core of Delaware and Midland basins.  Current production is more than 5,000 boed.  Tailwater said assets also include “meaningful future inventory under […]

Oil industry major ExxonMobil continues to lead in rig counts in U.S. and Permian Basin, according to a report this week by Enverus.  Exxon Mobil had 39 working rigs in U.S. as of Nov. 15 followed by Occidental and ConocoPhillips each with 29, Mewbourne Oil with 26, EOG Resources and Continental Resources each with 23, […]

Dallas-based LandBridge said this week it acquired about 46,000 contiguous surface acres in southern Delaware Basin for $245 million in cash from a subsidiary of VTX Energy Partners.  Wolf Bone Ranch, located adjacent to LandBridge’s existing acreage in Reeves County, is “well positioned at a strategic intersection of oil and natural gas exploration and transportation” […]

Permian Basin reported 303 active drilling rigs for the third consecutive week – matching its lowest count of the year from August.  In its weekly report of Nov. 15, Baker Hughes said there were 279 rigs in Texas (down 2 from previous week, down 23 from year ago), 102 in New Mexico (up 2 in […]

Oklahoma City-based Devon Energy said recently its Delaware Basin assets accounted for 67 percent of total company production in third quarter.  Devon reached 488,000 boed in 3Q in Delaware Basin for an increase of six percent from 2Q.  A key contributor was a 21-well project targeting six landing zones in Bone Spring and Wolfcamp brought […]

After recent acquisitions and efficiencies increased its production, Midland-based Permian Resources raised its fullyear oil production guidance by 6,500 barrels per day to 158,500 b/d and its total production by 16,000 boed to 341,000 boed.  Permian Resources said, “The majority of the increase in fullyear production guidance is driven by continued strong well performance and […]