Tulsa-based Vital Energy said recently after announcing record production in second quarter that in 2024 it expects to maintain fullyear 2023 production levels.  Vital Energy said Aug. 8 it expects to operate three drilling rigs and an average of 1.7 completions crews in 2024 across its assets in Delaware and Midland basins.  The company expects […]

Baker Hughes said Friday the U.S. count of active drilling rigs fell for the eighth straight week, and rig counts also declined in Permian Basin and Texas.  As of Sept. 1 there were 631 rigs in U.S. (632 week ago, 760 year ago), 319 in Permian Basin (320 week ago, 342 year ago), 306 in […]

Groundbreaking ceremony was held Friday in central New Mexico for Pattern Energy’s SunZia transmission and wind project, reportedly “the largest clean energy infrastructure project in U.S. history.”  The 550-mile high-voltage transmission line will begin near Corona in Lincoln County southeast of Albuquerque and extend to south central Arizona.  Pattern Energy said it will construct about […]

Houston-based Coterra Energy recently reported second quarter production that was 15,000 boed above high end of guidance, and the company increased fullyear guidance at midpoint by two percent.  Coterra said Aug. 7 that its operations in Permian, Anadarko and Marcellus basins lifted 2Q production to 665,000 boed.  Guidance for 2023 increased to 630,000 boed to […]

Houston-based Tivoli Midstream, through subsidiary Tivoli Services, said Monday it acquired a crude oil pipeline system in north Texas from affiliates of Phillips 66. The NTX system is comprised of about 140 miles of crude oil gathering and transportation pipelines and storage capacity in the Barnett Shale in Archer, Clay, Jack, Palo Pinto, Stephens, Wichita […]

Enverus Intelligence Research released a report Tuesday that quantifies geologically viable but not yet economically proven inventory in Permian Basin. The report investigates the impact this undeveloped resource has at the operator level and the supply outlook for the Permian Basin. Stephen Pratt, author of the report and Enverus’ Permian analyst, said, “Geologically viable but […]

Tulsa-based Vital Energy, pure-play Permian Basin independent, said recently its oil production in second quarter exceeded high end of guidance and set a company record with 44,360 barrels per day. Vital said, “Production outperformance was driven by improvements in base production and acceleration of production from new wells.” Vital also reported 90,030 boed in 2Q. […]

Upstream mergers and acquisitions accelerated in second quarter, according to Enverus Intelligence Research, after a relatively quiet 1Q.  Enverus said second quarter activity expanded with 20 transactions valued at $24 billion.  That included six deals of more than $1 billion each, including five with assets in Permian Basin.  “The need for public buyers to secure […]

Oklahoma City-based Devon Energy said recently that production averaged 420,000 boed (50 percent oil) in 2023Q2 in Delaware Basin.  Devon operated 16 rigs and four completion crews in Delaware in 2Q resulting in 76 gross wells placed online, including the 11-well Mule development in Eddy County, N.M.  Early production from six wells targeting Wolfcamp B […]