Houston-based Archrock, energy infrastructure company with focus on midstream natural gas compression, said last week it is acquiring Natural Gas Compression Systems in a cash-and-stock transaction valued at $357 million ($298 million cash).  NGCS is a provider of natural gas compression equipment and services used in production and transportation of natural gas. Brad Childers, president […]

The Woodlands-based Ring Energy said last week it divested non-core vertical wells with high operating costs for $5.5 million.  Paul D. McKinney, chairman and CEO, said March 6, “We intend to maintain or slightly grow our production through our organic drilling program and grow through accretive, balance sheet enhancing acquisitions of assets that meet specific […]

Houston-based Evolution Petroleum said last week it agreed to acquire non-operated oil and natural gas assets in New Mexico and Louisiana for $9 million.  Closing is expected in 3Q.  Kelly Loyd, president and CEO, said March 4 the deal strengthens Evolution’s production base “by adding high-quality, low-decline production at an attractive valuation… These assets complement […]

U.S. Energy Information Administration said last week the number of rigs deployed to drill for natural gas declined over the last two years.  U.S. natural gas-directed rigs decreased 32 percent between December 2022 and December 2024.  EIA said March 4 the decline was concentrated in Haynesville and Appalachia, where gas rigs declined by a combined […]

Counts of active drilling rigs in Permian Basin, Texas and U.S. declined in the past week, according to the weekly report of March 7 by Baker Hughes.  The U.S. count of 592 – down 1 in the past week, down 30 in the past year – ends a streak of five straight weeks of additional […]

Calgary-based WhiteWater Management said last week it agreed to purchase Orion Water Solutions, a pioneer in advanced wastewater treatment solutions.  WhiteWater’s announcement March 3 said, “The acquisition strategically positions WhiteWater and its production chemical company Catalyst Production Services for continued growth while enhancing their ability to provide sophisticated water treatment solutions across a range of […]

Findlay, Ohio-based MPLX said recently it agreed to acquire the remaining 55 percent interest in BANGL pipeline system from affiliates of Midland’s Diamondback Energy and WhiteWater for $715 million.  BANGL transports up to 250,000 barrels per day of natural gas liquids from Permian Basin in west Texas to fractionation markets on the Gulf Coast.  It […]

Houston-based Targa Resources recently reported record production for 2024Q4 and fullyear 2024.  Targa said Feb. 20 it completed its new Greenwood II plant in Midland Basin (275 million cfd) and its new Train 10 fractionator in Mont Belvieu (120,000 b/d). Also Targa recently commenced operations of its Bull Moose plant (275 million cfd) and front-end […]

The Woodlands-based Ring Energy said last week it will acquire assets in central basin platform from Lime Rock Resources in a cash-and-stock deal valued at $100 million.  The transaction is expected to close by end of 2025Q1.  The acquisition of assets in Andrews County “represents another opportunity for (Ring) to seamlessly integrate strategic, high-quality assets […]