U.S. and Texas idled drilling rigs in the past week, according to Baker Hughes, while Permian Basin added at least one rig for the 11th straight week.  As of Oct. 22, there were 268 rigs in Permian (up 1 in previous week and 135 in previous year), 249 rigs in Texas (down 1 in previous […]

Dallas-based Matador Resources and San Mateo Midstream said Oct. 20 they began operating a fifth drilling rig in August to drill an additional saltwater disposal well in Greater Stebbins area in Eddy County, N.M.  The well and associated facilities were needed to handle additional produced water resulting from Matador’s increased drilling and completion activity.  Drilling […]

Rattler Midstream, subsidiary of Midland’s Diamondback Energy, said Oct. 21 it agreed to purchase water midstream assets from subsidiaries of Diamondback for $160 million in cash in a drop-down transaction.  The assets consist primarily of produced water gathering and disposal systems, produced water recycling facilities, and sourced water gathering and storage assets acquired by Diamondback […]

Oil production in Permian Basin is forecast to grow to 4.888 million b/d in November from 4.826 million b/d in October, according to the drilling productivity report of Oct. 18 by U.S. Energy Information Administration.  Five of the seven major producing regions are expected to increase oil production next month with overall growth of 77,000 […]

Altus Midstream said Oct. 21 it will combine with BCP Raptor Holdco in an all-stock transaction to create a pure-play Permian Basin midstream company valued at $9 billion.  BCP is the parent company of Midland’s EagleClaw Midstream, which includes EagleClaw Midstream Ventures, Caprock Midstream, Pinnacle Midstream and 26.7 percent interest in Permian Highway pipeline.  Altus […]

Dallas-based Elk Range Royalties said Oct. 6 it has acquired Permian Basin royalty interests from an undisclosed seller.  The assets include about 2,600 core net royalty acres in Delaware and Midland basins – primarily in Loving, Midland, Reeves and Upton counties in Texas and Lea County, N.M.  The acreage includes about 250 producing horizontal wells […]

Permian Basin’s streak of consecutive weeks to add drilling rigs reached 10 as of Oct. 15, according to Baker Hughes.  There were 267 rigs in Permian Basin (266 week before, 130 year before), 250 rigs in Texas (247 week before, 123 year before), 85 rigs in New Mexico (86 week before, 45 year before) and […]

Texas Petro Index posted its fifth straight monthly increase in August 2021 and its first year-over-year increase since June 2019.  The index from economist Karr Ingham of Texas Alliance of Energy Producers reached 154.1 in August 2021 after 150.5 in July 2021 and 148.9 in August 2020.  Ingham explained, “The rig count and industry employment […]

Houston-based U.S. Energy Corp. said Oct. 5 it agreed to purchase oil and gas assets from Lubbock Energy Partners, Synergy Offshore and certain entities controlled by Sage Road Capital in a deal valued at $99.5 million.  The acquired assets represent a diversified, conventional portfolio of operated, producing, low-decline, oil-weighted assets in west Texas, Eagle Ford, […]