Houston-based Coterra Energy said this week it acquired assets in Permian Basin from Franklin Mountain Energy and Avant Natural Resources in two deals totaling $3.95 billion ($2.95 billion cash, $1 billion stock).  Tom Jordan, chairman, CEO and president, said Wednesday, “These highly accretive acquisitions create an expanded core area in New Mexico that plays to […]

Matterhorn Express reached another new high last week when total flows reached 1.5 billion cubic feet per day Nov. 6, according to East Daley Analytics.  The new pipeline has current capacity of 2.42 Bcfd with five interstate interconnects.  Other segments remain under construction.  Matterhorn began delivering natural gas from Permian Basin to Gulf Coast in […]

Rig counts in Permian Basin, Texas and New Mexico were unchanged in the past week.  In its weekly report of Nov. 8, Baker Hughes said there were 303 rigs in Permian Basin for the second straight week (310 year ago), 281 in Texas for the second straight week (302 year ago) and 100 in New […]

Midland-based Diamondback Energy said last week it increased its 2024 net production guidance to 587,000 to 590,000 boed from its previous guidance of 462,000 to 470,000 boed after its acquisition of Endeavor, which was completed in September.  That includes guidance of 335,000 to 337,000 b/d of oil (up from 273,000 to 276,000). During third quarter […]

Railroad Commission of Texas requested an additional $100 million in emergency funding from the state to address the issue of leaking and erupting wells in Texas’ oil fields.  Houston Chronicle and Texas Tribune reported after the commission submitted its annual budget request in August, executive director Danny Sorrell sent a letter in October to Lt. […]

Houston-based Covia Energy and Black Mountain Sand said last week they will merge in an all-stock transaction.  The combined company will operate under the name Iron Oak Energy Solutions as a leading proppant supplier in North America with annual production of 30 million tons of sand.  Assets include sand mines in Permian Basin and Eagle […]

Railroad Commission of Texas said last week it now has 83.4 million oil and gas digital records that can be search and viewed online.  That includes 15 million records digitized in the past year as part of the commission’s goal to increase transparency and make information held by the agency available to the public. The […]

UK-based Carbon Clean and Midland-based BCCK have signed an agreement to provide Carbon Clean’s semi-modular CaptureX technology to customers across the U.S.  Priority sectors include oil and gas production, gas processing, air separation, power generation, landfill gas, biogas and hydrogen. CaptureX is a cost-effective alternative to open-plant construction.  The combination of BCCK’s experience in gas […]

San Ramon-based Chevron said its company’s net oil-equivalent production for third quarter increased 7 percent from last year as U.S. and Permian Basin production set quarterly records.  U.S. net boed was up 198,000 barrels per day to 1.605 million boed in 2024Q3 from 1.407 million boed from 2023Q3.  Chevron said the U.S. production record was […]