Oklahoma City-based Devon Energy said last month in its 3Q operations announcement that production in Delaware Basin averaged 409,000 boed (52 percent oil) in 2021Q3 – an increase of 39 percent from 2020Q3.  The growth was driven by 52 new wells that started production on Devon’s 400,000 net acres in New Mexico and Texas.  Devon […]

San Ramon, Calif.-based Chevron said in its upstream business in 2022 it will spend $8 billion on currently producing assets, including $3 billion for unconventional development in Permian Basin.  Also, its $15.3 billion capital and exploratory spending program for 2022 (20 percent more than is expected in 2021) will include $1.5 billion for other global […]

Midland-based CrownQuest Operating told Enverus that 9 of its top 10 wells for initial 24-hour rates were completed this year.  The wells are located in Glasscock, Howard and Midland counties.  In 2021Q3 three Wolfcamp wells in western Glasscock County produced initial rates of 4,539 boed (75 percent oil), 3,361 boed (88 percent oil) and 3,324 […]

Houston-based U.S. Well Services said Tuesday it agreed to a contract with operating subsidiaries of Callon Petroleum to provide electric pressure pumping in Permian Basin and Eagle Ford for up to three years.  Joel Broussard, USWS president, said, “We are excited to support Callon’s long-term completion program and build off our shared success from the […]

Wichita, Kansas-based MVP Holdings said Dec. 3 it acquired Echo Canyon Pipeline Holdings and subsidiaries to expand its crude business in southern Midland Basin.  Echo operates 190 miles of crude gathering pipelines in Crocket, Glasscock, Irion, Reagan and Upton counties.  It also owns truck-loading facilities, storage and multiple connections to major crude oil off-take pipelines. […]

New Mexico has joined Texas in placing restrictions on oilfield wastewater injection in Permian Basin.  Albuquerque Journal said last week the state’s Oil Conservation Division issued guidelines requiring operators southeast of Malaga in Eddy County to report wastewater injection amounts and pressure and monitor for seismic activity.  Adrienne Sandoval told the Journal, “We’ve been pretty […]

Permian Basin extended its streak to 22 straight weeks of a growing or flat count of active oil and gas drilling rigs as of Nov. 24, according to Baker Hughes.  The last time the Permian’s count declined was June 2021.  Baker Hughes said on the day before Thanksgiving there were 280 rigs in Permian Basin […]

Permian Basin is an important upstream growth target for Chevron and ExxonMobil, but independent operators are the dominant producers in the region, according to an analysis by Institute for Energy Economics and Financial Analysis (IEEFA).  The report released Nov. 15 said, “While ExxonMobil and Chevron have portrayed themselves as leaders in the Permian, the IEEFA […]

Irving-based ExxonMobil CFO Kathy Mikells said this week in a presentation of the company’s corporate plan that ExxonMobil expects to produce 700,000 oil-equivalent barrels per day by 2025 in Permian Basin (367,000 in 2020).  The global energy giant plans to maintain capital spending plans of $20 billion to $25 billion per year through 2027 and […]