Permian Basin and Texas each declined in rig count for the second straight week, according to the year’s first report of active drilling rigs by Baker Hughes. As of Jan. 7 there were 292 rigs in Permian (293 week ago, 179 year ago), 274 in Texas (277 week ago, 161 year ago), 95 in New […]
Enterprise acquires Navitas Midstream to enter Midland Basin
Houston-based Enterprise Products Partners said this week an affiliate agreed to acquire Navitas Midstream Partners for $3.25 billion cash. The Woodlands-based Navitas, portfolio company of funds managed by Warburg Pincus, provides natural gas gathering, treating and processing in the core of Midland Basin. Navitas assets include about 1,750 miles of pipelines and more than 1 […]
Platts says Permian gas output to hit sustained level of 14 Bcfd in 2022Q1
S&P Global Platts Analytics said last week production of natural gas in Permian Basin likely will reach sustained levels of more than 14 Bcfd in 2022Q1. Platts said Jan. 4 that twice in December Permian gas production was estimated at more than 14 Bcfd – just short of its record of 14.1 Bcfd in June […]
Optimizing well production to maximize ROI across the life cycle
Unlock well and field-wide productivity with optimized artificial lift In today’s complex energy landscape, oil and gas operators must find innovative new ways to improve operational efficiency and reduce capital expenses. To accomplish this, best practices in the field are being backed up with more engineering criteria. Digital breakthroughs, such as adaptive, high-science applications and […]
Opinion Will 2022 Be the Year of Comeuppance?
Oil and gas in the Permian Basin has been put through the shale shaker in this still-new decade of the 2020s. And still, the energy bulls and the ebullient forecasters keep promising that the Big Bounceback is just up ahead. Is that still the case after a 2021 full of commodity price ups and downs? […]
Endeavor’s Stephens to receive PBPA Top Hand Award
Autry C. Stephens, founder and general partner of Endeavor Energy Resources, will receive the 2021 Top Hand Award from Permian Basin Petroleum Association Thursday, Jan. 20. The annual awards dinner will begin at 7 p.m. at Petroleum Club of Midland. The Top Hand award is the highest honor distributed by the PBPA each year. It […]
Rig count grows 67 percent in Permian Basin, 72 percent in Texas in 2021
There were few changes in Baker Hughes’ count of active oil and gas drilling rigs in the final week of 2021. As of Dec. 31, there were 293 rigs in Permian Basin (294 week ago, 175 year ago), 277 in Texas (279 week ago, 161 year ago), 94 in New Mexico (93 week ago, 65 […]
Abraxas Petroleum transforms into pure play Delaware Basin company
San Antonio-based Abraxas Petroleum said Monday it is transforming into a pure-play Delaware Basin company by paying off all revolving credit with proceeds from the $87.2 million sale of Williston Basin assets of 3,500 acres and converting a term loan held by Angelo Gordon Energy Funding into preferred stock. The Williston assets were sold to […]
FireBird acquires Midland Basin assets from Chevron
Fort Worth-based FireBird Energy said last week it acquired operated assets in Midland Basin from Chevron USA and Chevron Midcontinent. The transaction for about 21,000 net acres (99 percent operated) in Crane, Ector, Midland and Upton counties closed Dec. 30. FireBird now will have about 72,000 gross acres with about 11,500 boed. Travis F. Thompson, […]
One Man’s Endeavors
After a career spanning almost 60 years, in which he founded several companies and mentored many individuals in the business, Endeavor Energy Resources LP founder Autry Stephens will be honored as the PBPA’s Top Hand for 2021. In 2018 the Dallas Morning News called Endeavor “the largest closely held oil producer in Texas by production […]
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