Denver-based Cimarex Energy said it also is realizing improved well productivity through relaxed spacing in Delaware Basin.  In Reeves County, Cimarex’s Dixieland and Big Sky developments with spacing of 8 wells per section are outperforming legacy projects of 12-to-14 wells per section.  Thomas Jorden, chairman and CEO, said benefits include enhanced capital efficiency, reduced operational […]

Tulsa-based Laredo Petroleum said this week it is acquiring about 20,000 net acres in western Glasscock County from Pioneer Natural Resources for about $230 million ($160 million cash).  The leasehold to be acquired is adjacent to Laredo’s existing western Glasscock assets, it increases its high-margin, oil-weighted inventory by 50 percent, and it expands its core […]

Houston-based Shell Enterprises, subsidiary of Royal Dutch Shell, said Monday it reached agreement for the sale of its Permian Basin business to ConocoPhillips for $9.5 billion.  The transaction will transfer all of Shell’s assets in Permian Basin to ConocoPhillips.  Shell’s Permian business includes ownership of about 225,000 net acres on the Texas side of the […]

Railroad Commission of Texas said Monday for the fifth straight year it exceeded its goal of plugging orphaned wells.  RRC said 1,453 orphaned wells were plugged in fiscal year 2021 – above the goal of 1,400.  Clay Woodul, director of field operations, said, “Our plugging staff in the district offices deserve credit for staying on […]

U.S. count of active drilling rigs returned to at least 500 rigs as of Sept. 10, according to Baker Hughes, after falling below 500 the previous week because of Hurricane Ida.  There were 503 rigs in U.S. (497 previous week, 254 previous year), 254 rigs in Permian Basin (250 previous week, 124 previous year), 235 […]

Calgary-based Enbridge said Sept. 7 it agreed to acquire Moda Midstream Operating for $3 billion from EnCap Flatrock Midstream to enhance its U.S. Gulf Coast oil export capacity.  WorldOil reported, “Enbridge, which already handles about a quarter of all crude produced in North America, is betting on a strong outlook for exports of oil pumped […]

Houston-based Nabors Industries recently launched a robotic drilling rig in Midland County.  Travis Purvis, senior vice president, told Midland Reporter Telegram and KOSA-TV in Odessa last month that the new PACE R801 rig is the industry’s first automated land drilling rig using technology optimized for drilling automation, including robotic pipe handler.  Purvis said there is […]

Arlington-based U.S. Energy Development Corp. said Sept. 8 it acquired a $50 million asset in Loving County in the core of the Delaware Basin.  The project includes wells targeting third Bone Spring, Wolfcamp A and Wolfcamp XY.  U.S. Energy said it has invested $135 million in Permian Basin in the past year.  This is the […]

Houston-based WaterBridge Holdings said Sept. 10 it acquired the produced water infrastructure acquired in June by Colgate Energy from Occidental Petroleum.  WaterBridge also said it has a new 15-year produced water management agreement for Colgate’s operated acreage in Reeves and Ward counties.  The acquired assets include 10 water-handling facilities, associated water midstream infrastructure (capacity 100,000 […]

The industry’s evacuation of infrastructure in Gulf of Mexico ahead of Hurricane Ida led to a loss of 11 active drilling rigs in U.S. as of Sept. 3, according to Baker Hughes.  There were 5 additional rigs on land, but the number of rigs drilling offshore was down 13 in the previous week to 2.  […]