Tulsa-based WPX Energy said Dec. 16 it is acquiring Denver-based Felix Energy, a Permian Basin operator, for $2.5 billion. WPX is purchasing Felix’s acreage in Loving, Ward and Winkler counties in west Texas in the core of the Delaware Basin for $900 million in cash and $1.6 billion in WPX stock. Felix has about 1,500 […]
Devon exits Barnett Shale with sale of assets to Banpu, Kalnin Ventures
Oklahoma City-based Devon Energy exits the Barnett Shale, “birthplace of the shale revolution,” with the sale of its Barnett assets for $770 million to Denver-based private equity firm Kalnin Ventures, which is backed primarily by Thailand coal mining and power giant Banpu. The shale position will be operated by BKU Oil & Gas Capital Partners. […]
Sharing Their Visions: Two Basin Thought Leaders
A PBPA Q&A with Christie Craddick, Texas Railroad Commissioner The Permian Basin Petroleum Association is pleased to serve up this feature for readers of Permian Basin Oil and Gas Magazine. This “PBPA Q&A” is an opportunity for readers to learn a little bit more about industry and regulatory leaders, energy pioneers and elected officials, about […]
EIA: U.S. companies vented, flared record volumes of natural gas in 2018
U.S. Energy Information Administration said recently that U.S. oil companies vented and flared a record amount of natural gas in 2018. Industry companies vented or flared 1.28 billion cubic feet of natural gas per day during 2018, the EIA said Dec. 6. At the current market price of $2.41 per million British thermal units, according […]
Revolution acquires Anadarko Basin assets of Jones Energy
Oklahoma City-based Revolution II Wi said Dec. 6 it has acquired Austin-based Jones Energy in an all-cash transaction valued at about $201.5 million. The transaction is expected to close in 2020Q1. Revolution is an independent oil and gas company engaged in acquisition and development of properties in mid-continent U.S. Jones is an independent oil and […]
Ironwood expands Eagle Ford network with asset purchase from Twin Eagle
San Antonio-based Ironwood Midstream Energy Partners said last week it closed on its acquisition of midstream assets in Dimmit and La Salle counties in south Texas from Houston pipeline and frac sand company Twin Eagle. The assets include Gardendale and Asherton gathering systems of 150 total miles of crude oil gathering pipelines with connections to […]
Freeport LNG Development Train 1 starts commercial operations
Houston-based Freeport LNG Development said last week it started commercial operations from Train 1 of its multi-train liquefaction facility on Quintana Island. And the company said it began producing LNG from Train 2. Zachry Group is lead for the joint ventue that also includes McDermott International. Michael Smith, Freeport founder, chairman and CEO, said commercial […]
Epic launches first export of crude oil, to build NGL plant at Robstown
San Antonio-based Epic Midstream said last week it will build a $150 million natural gas liquids processing plant at Robstown. The new greenfield fractionator will receive 110,000 barrels of NGLs per day and separate them into their more valuable components, such as ethane, propane, butane and pentane. It will be Epic’s second greenfield fractionator at […]
Rig counts unchanged in Permian Basin, Texas, U.S.
Perhaps a sign of a holiday slowdown, counts of active drilling rigs in Permian Basin, Texas and U.S. were unchanged in the past week as of Dec. 13, according to Baker Hughes. There were 400 rigs in Permian (486 a year ago), 400 rigs in Texas (532 a year ago) and 799 rigs in U.S. […]
Milestone opens first landfill for liquid, solid oilfield waste in Orla
The Orla facility of Houston-based Milestone Environmental Services last week began accepting drill cuttings, contaminated soils and other RCRA-exempt exploration and production waste materials appoved for landfill disposal. Milestone’s Orla facility is located in Reeves County on FM 652 in Delaware Basin. Milestone is reportedly the first oilfield waste disposal company to offer co-located slurry […]
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