Midland-based MCM Delaware Resources said last week it closed acquisition of crude oil and natural gas assets from Battalion Oil Corp. at a reported $62.59 million.  The assets include 6,207 net acres in West Quito Draw area of Ward County in the southern Delaware Basin.  The transaction “expands MCM’s position across multiple benches and adds […]

Midland-based Diamondback Energy said last week it forecasts 2026 crude oil production guidance of 500,000-to-510,000 barrels per day and 926,000-to-962,000 boed.  That follows 4Q production of 512,800 b/d of oil and 969,100 boed and fullyear 2025 production of 497,200 b/d of oil and 921,000 boed.  Fullyear cash capital expenditures for 2026 are forecast at $3.6 […]

Fort Worth-based Brazos Midstream recently started construction on a new natural gas processing complex in Glasscock County in west Texas.  It includes Cassidy I, a cryogenic natural gas processing facility with capacity of 300 million cfd.  Completion is expected by yearend 2026, and it will increase Brazos’ total natural gas processing capacity in the Midland […]

Houston-based Conduit Power recently made financial agreements with Midland’s Diamondback Energy and Granite Ridge Resources to develop 200 megawatts of new natural gas power generation facilities for the sale of energy and related services to ERCOT.  Conduit will build, own and operate a total of 200 megawatts of distributed power generation capacity in west Texas. […]

Houston-based startup chemical manufacturer Blue Pony Energy said recently it will build a clean fuels manufacturing plant in Lovington in Lea County, N.M.  CEO Justin Rencurel told Albuquerque Journal Feb. 9 the company “turns natural gas into cleaner-burning fuels and industrial materials.”  Blue Pony will use the Lovington plant in Permian Basin to produce low-carbon […]

After a decade of portfolio transformation, Occidental Petroleum president and CEO Vicki Hollub said last week the company will “no longer require transformative acquisitions.  Instead, our teams are focused on what they do best, and that is execution, including cost reduction, capital efficiency and well performance.” Oxy said guidance for 2026 capital spending has been […]

Midland-based WT Oil & Gas and EnviroKlean recently announced the launch of a zero solids recycle system, a next-generation, solids-free produced water recycling system engineered for high-volume oilfield operations in Permian Basin.  It’s designed to process up to 150,000 barrels per day, allow operators to recycle produced water without generating waste solids, and eliminate the […]

Denver-based Ovintiv said last week it agreed to sell its Anadarko assets in Oklahoma to an undisclosed buyer for $3 billion.  The sale includes about 360,000 net acres, which represents substantially all the company’s acreage in the play.  Production to date in February is about 90,000 boed, including 27,000 b/d of oil and condensate, 240 […]

For the first time in 2026, Permian Basin reported an increase in its count of active drilling rigs.  In its weekly report of Feb. 20, Baker Hughes said there were 239 rigs in Permian Basin – up 1 from the previous week but down 65 or 21.38 percent from 304 a year ago. Texas also […]