Dallas-based Spicewood Mineral Partners said last week its recent acquisitions of tier 1 mineral assets in Permian Basin reflect “a strategic blend of early-life and more mature assets.”  John Golden, co-founder and partner, announced on Oct. 22 a series of five deals in Delaware and Midland basins, including assets in Reeves and Ward counties.  They […]

Denver-based Civitas Resources said recently – after making a “transformative entrance” into the Permian Basin last year – it has drilled 120 gross wells so far in 2024 with average lateral length of 2.2 miles and production of 344,000 boed.  Its 2023 acquisition gave Civitas operating scale in two of the nation’s lowest breakeven shale […]

Officials from Houston-based Kinder Morgan said its crews stopped an orphaned well that ruptured Oct. 2 in Reeves County five miles west of Toyah.  Kinder Morgan told Houston Chronicle the geyser was stopped Oct. 14 and sealed Oct. 21; workers no longer are detecting emissions of the toxic gas hydrogen sulfide.  The company plans to […]

Rig counts in U.S., Texas and Permian Basin remained flat in Baker Hughes’ weekly report of Oct. 25.  There were 304 rigs in Permian Basin (313 year ago), 283 in Texas (311 year ago) and 585 in U.S. (625 year ago).  New Mexico was one of only three major producing states to add a rig […]

Midland-based Imperative Chemical Partners acquired Performance Chemical Co., another Midland company that provides specialty chemical solutions serving midstream and production operators in the oil and gas industry.  The Imperative brand was formed in 2019 with the merger of three Midland-based chemical businesses.  It has 40 locations with 900 employees in 10 states. Ryan Havens, CEO, […]

Dallas-based Matador Resources last week raised guidance for 2024 fullyear production by 6 percent and said it expects to produce more than 200,000 boed in 2025.  In third quarter Matador closed its acquisition of Ameredev, and production from the first 7 wells turned to sales since the effective date of the deal exceeded expectations by […]

U.S. natural gas production from shale and tight formations, which accounts for 79 percent of dry natural gas production, decreased slightly in the first nine months of 2024 compared with the same period in 2023. If this trend holds for the remainder of 2024, U.S. Energy Information Administration said it would mark the first annual […]

Tulsa-based ONEOK has completed acquisition of the entire interest held by Global Infrastructure Partners in EnLink Midstream for total cash consideration of about $3.3 billion.  The acquisition consists of 43 percent of EnLink’s outstanding common units ($14.90 per unit) and 100 percent interest in the managing member for $300 million. Pierce H. Norton II, president […]

Port of Corpus Christi and its customers moved 53 million tons through its ship channel in third quarter – a new quarterly record driven by increases in shipments of crude oil and dry bulk.  Port officials said last week the 53 million tons moved in 2024Q3 was a 2 percent increase from the same period […]