Dallas-based HollyFrontier Corp. said last week it reduced capital spending forecasts for the remainder of 2021.  Mike Jennings, president and CEO, said the company’s recent turnaround at its Tulsa refinery and smaller scope of work at a turnaround in progress at its Navajo refinery (100,000 b/d) near Artesia, N.M., in Eddy County have enabled it […]

Officials of Pioneer Natural Resources said the company’s Delaware Basin assets divested last week to Continental Resources have a higher operating cost than their Midland Basin assets.  Pioneer sold for $3.25 million all its assets in Delaware Basin (92,000 net acres with net production of 50,000 boed – 70 percent oil) acquired in October 2020 […]

Fort Worth-based Brazos Midstream said Nov. 3 it acquired assets in Delaware and Midland basins of Permian Basin in two transactions.  Brazos Delaware acquired the Pecos gas gathering system from Diamondback Energy and midstream affiliate Rattler Midstream.  And newly formed Brazos Midland also acquired Diamondback’s Mustang Springs gas gathering system. Brazos has operated the Pecos […]

Danny Wesson of Midland-based Diamondback Energy has been appointed by the Railroad Commission of Texas to the Texas Energy Reliability Council.  The council was established by the state legislature to “ensure that the energy and electric industries in this state meet high priority human needs and address critical infrastructure concerns” and to “enhance coordination and […]

Fort Worth-based HighPeak Energy said Oct. 28 its recently mobilized third rig in Midland Basin will not change capital expenditure guidance for 2021.  The company’s production for second half of October will average about 15,000 boed compared with 2021Q3 production of 8,168 boed.  HighPeak said it expects wells drilled with its second rig to begin […]

Texas and U.S. added drilling rigs last week while Permian Basin and New Mexico were unchanged.  Baker Hughes said as of Oct. 29 there were 268 rigs in Permian Basin (up 126 in past year), 250 in Texas (up 1 in past week, up 117 in past year), 87 in New Mexico (up 40 in […]

Additional inspectors were sent to Gardendale seismic response area north of Odessa last week by Railroad Commission of Texas after two earthquakes Oct. 26 of magnitude 3.4 and 3.6.  They are inspecting saltwater disposal well sites.  As a result of previous earthquakes, the agency in September had requested 25 operators of 76 wells in Gardendale […]

Houston-based Crestwood Equity Partners and Oasis Midstream Partners said Oct. 26 they agreed to merge in an equity and cash transaction valued at about $1.8 billion.  In Delaware Basin, Crestwood’s acquired assets include 40 miles of crude oil and 50 miles of produced water gathering pipelines in Loving, Ward and Winkler counties.  The assets complement […]

Amid forecasts for $100 oil next year, Midland-based Diamondback Energy said this week it expects to maintain 2022 production at current levels.  Travis Stice, CEO, said Monday, “We are committing to maintaining our fourth quarter 2021 Permian oil volumes throughout next year, and we believe this can be accomplished by spending the amount of capital […]

Oklahoma City-based Continental Resources said Wednesday it has agreed to acquire certain Permian Basin assets from Dallas-based Pioneer Natural Resources in an all-cash transaction valued at about $3.25 billion.  The assets include 92,000 net acres with net production of about 50,000 boed (35,000 b/d of oil), including more than 650 gross operated locations in third […]