Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

ONEOK acquires remainder of EnLink assets to expand presence in Permian

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Tulsa-based ONEOK said last week it will acquire the remainder of EnLink Midstream for $4.3 billion in common stock.  EnLink previously announced Oct. 15 the successful completion of its acquisition of Global Infrastructure Partners’ interest (43 percent) in EnLink for a total cash consideration of about $3.3 billion.  The purchases expand ONEOK’s presence in Permian […]

FERC grants permission for Kinder Morgan to build Texas-Louisiana project

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U.S. Federal Energy Regulatory Commission granted permission for Natural Gas Pipeline Co. of America, subsidiary of Houston-based Kinder Morgan, to build its Texas-Louisiana project in Texas.  NGPL said after the FERC meeting Nov. 21 that the project will allow it to receive additional gas from existing system receipt points in the Permian, Eagle Ford and […]

Oil’s Eternal Optimist

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MIDLAND, TEXAS—When Harold Hamm and a few members of his executive staff sat down with PB Oil and Gas Magazine in the Petroleum Museum in this oil-centric capital one sunny day this fall, the founder and leader of Continental Resources was keeping a timetable that would soon see them huddling up with the Permian Basin […]

Two Stock Bargains in the Delaware Basin

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In recent months I have discussed multiple stock investment opportunities in the broad Permian Basin. Today, I will focus on two that are bargains in the Delaware Basin specifically.   The Delaware has a higher percentage of natural gas to oil production than the Midland. While in the past companies were very focused on oil, […]

LandBridge closes purchase of 5,800 acres in Delaware Basin in Lea County

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Houston-based LandBridge announced last week the closing of its previously announced acquisition of about 5,800 largely contiguous surface acres in Lea County, N.M.  It expands LandBridge’s holdings into a new area of the Delaware Basin that supports existing water infrastructure.  LandBridge said, “The acreage is well-positioned to drive further revenue growth through additional water infrastructure, […]

Project Concho in Tom Green County first DAC hub to rely on wind power

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Carbon capture and removal project developers Return Carbon and Austin-based Verified Carbon last week announced plans for Project Concho, direct air capture hub to be built in Tom Green County. Project Concho will be the first DAC hub to run entirely on wind power; it will leverage advanced DAC technology and onsite geological carbon storage […]

Tailwater Capital acquires assets in Delaware, Midland basins from Accelerate

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Dallas-based private equity firm Tailwater Capital said recently it acquired off-market, non-operated, working interest assets in Permian Basin from Accelerate Resources Operating.  The acquisition includes more than 5,000 net leasehold acres in the core of Delaware and Midland basins.  Current production is more than 5,000 boed.  Tailwater said assets also include “meaningful future inventory under […]

ExxonMobil operates most working drilling rigs in Permian Basin, U.S.

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Oil industry major ExxonMobil continues to lead in rig counts in U.S. and Permian Basin, according to a report this week by Enverus.  Exxon Mobil had 39 working rigs in U.S. as of Nov. 15 followed by Occidental and ConocoPhillips each with 29, Mewbourne Oil with 26, EOG Resources and Continental Resources each with 23, […]

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