Oklahoma City-based Mach Natural Resources said recently it is acquiring assets in Permian Basin to mark its entry into the basin.  The acquisition for $500 million from Sabinal Energy includes about 130,000 net acres with first quarter production of 11,000 boed (98 percent liquids). The deal diversifies the Mach portfolio with 55 percent in Mid […]

Austin-based WhiteWater said Monday that its Matterhorn joint venture with ONEOK, MPLX and Enbridge will build the Eiger Express pipeline after securing sufficient transportation agreements with contracts of at least 10 years.  Eiger Express will transport up to 2.5 billion cfd of natural gas through 450 miles of 42-inch pipeline from Permian Basin to a […]

Texas Commission on Environmental Quality now is responsible for issuing permits for water discharge both on land and into water after a new law passed during the recent 89th session of the Texas legislature.  Previously Railroad Commission of Texas was responsible for permits for water discharge on land. Catarina R. Gonzales, one of three commissioners […]

Declining count of drilling rigs in Texas reached its eighth straight week in Baker Hughes’ report of Aug. 22.  Counts in Permian Basin and New Mexico were unchanged in the past week.  Texas reported 240 rigs – down 2 for the past week and down 34 or 12 percent from 274 a year ago.  There […]

Dallas-based Ellipsis U.S. Onshore Holdings said last week it acquired non-operated oil and gas assets in Permian Basin.  The assets include current net production of about 4,000 boed and more than 600 gross remaining drilling locations.  Ellipsis said, “The transaction enhances Ellipsis’ growing Delaware Basin footprint and aligns with the company’s strategy of building scale […]

Houston-based Crescent Energy said Monday it will acquire Tulsa-based Vital Energy in an all-stock deal valued at $3.1 billion (including debt) to add the Permian Basin to its portfolio and create a top 10 independent.  Vital is an independent energy company focused on acquisition, exploration and development of oil and gas properties in Permian Basin.  […]

U.S. Energy Information Administration said recently the nation exported about 30 percent of its domestic primary energy production.  Of the record 103 quadrillion British thermal units (quads) of total primary energy production in the U.S. in 2024, a record 31 quads went to other countries.  The percentage has grown considerably in recent decades, according to […]

Texas Workforce Commission said last week that upstream oil and natural gas employment fell by 1,400 jobs in July compared to June.  (June’s loss was revised to 1,500 from previously estimated 2,700.)  Commission said Texas led with 308,918 jobs followed by Louisiana with 52,934, Oklahoma with 48,243, Colorado with 25,738 and New Mexico with 23,709 […]

Midland-based Permian Resources said recently it has increased midpoint of full year production guidance by about 3 percent to 385,000 boed and 178,500 b/d of crude oil.  The increase is driven by “continued strong well results and the recently closed APA bolt-on acquisition” (13,000 acres in northern Delaware Basin in June).  The company also is […]

Houston-based Coterra Energy said recently it reached a natural gas sales agreement with Basin Ranch Energy Center, a unit of Competitive Power Ventures Group’s in Ward County.  The center is a proposed 1,350 megawatt combined cycle power plant being designed with an option to include carbon capture.  The agreement to sell 50 million cfd for […]