Houston-based Occidental Petroleum last week said total production in second quarter was above midpoint of guidance at 1.4 million boed.  That includes average production of 770,000 boed in Permian Basin, where it is one of the leading producers. Occidental also said Aug. 6 it has signed four agreements to generate about $950 million in proceeds […]

Houston-based Western Midstream Partners said last week it will acquire Aris Water Solutions in an equity and cash transaction valued at about $1.5 billion.  Aris’ full-cycle water infrastructure assets include about 790 miles of produced water pipeline, 1.8 million b/d of produced water handling capacity,1.4 million b/d of water recycling capacity and 625,000 dedicated acres […]

U.S. Energy Information Administration said this week that Brent crude oil prices are expected to decline significantly in the coming months – falling from an average of $71 per barrel in July to $58 per barrel in 4Q and about $50 per barrel in early 2026.  In its short-term energy outlook issued Tuesday, EIA said, […]

Denver-based Jonah Energy and its partner Burk Royalty recently announced the closing of their acquisition of High Plains Natural Resources.  The acquired assets are in northwestern shelf of Permian Basin in west Texas and southeast New Mexico primarily from San Andres formation.  The assets include about 62,000 net acres and 250 operated horizontal wells in […]

It’s been 24 weeks since Permian Basin reported an increase in its count of active drilling rigs.  Baker Hughes said in its weekly report of Aug. 8 that there were 256 rigs in Permian Basin – a decline of 3 from last week and a decline of 48 or 16 percent since 304 a year […]

Brentwood, Tenn.-based Delek Logistics Partners said last week it completed construction of its new Libby 2 natural gas processing plant and other crude oil and water gathering projects.  Delek said Aug. 6 the Libby 2 plant provides “a much-needed processing capacity expansion to our producer customers in Lea County, N.M.” Avigal Soreq, president, said, “We […]

For the second straight quarter, Oklahoma City-based Devon Energy said it will reduce capital spending by $100 million.  Second quarter production was 387,000 b/d of oil and 841,000 boed of total production while averaging 21 rigs and 6 completion crews.  Oil output was up 15 percent from last year’s spring quarter, and oil-equivalent production was […]

Findlay, Ohio-based MPLX said recently it will acquire Northwind Delaware Holdings for $2.375 billion.  Northwind provides sour gas gathering, treating and processing services in Lea County, N.M.  The portfolio includes 200,000 dedicated acres, 200 miles of gathering pipelines, two in-service acid gas injection wells, and a third permitted well that brings total capacity to 37 […]

Dallas-based Producers Midstream recently announced agreements with leading Permian Basin operators to expand its gathering, treating and processing infrastructure in Lea County, N.M.  This Phase II expansion of the company’s Delaware Basin system will increase processing capacity by 50 percent to 90 million cfd and introduce a state-of-the-art acid gas injection well.  This expansion – […]