Hosuton-based EagleRock Land last week said it acquired Intrepid Ranch from Hydrosource Logistics for $78.2 million.  Intrepid Ranch is comprised of about 50,000 surface acres adjacent to EagleRock’s existing position in Lea County, N.M.  The acquisition includes about 22,000 fee acres, representing an increase of about 60 percent to EagleRock’s existing fee acreage in New […]

U.S. Energy Information Administration last week forecast record production of marketed natural gas this year.  Most of the expansion is concentrated in Permian Basin of Texas and New Mexico and Haynesville in Texas and Louisiana.  EIA said Aug. 12 it expects marketed natural gas production to average 122.5 billion cubic feet per day in 2026 […]

Devon Energy said in its second quarter filing last week it expects to average from 1,660,000 and 1,690,000 boed in third quarter this year.  Oil production is forecast at 550,000 to 560,000 barrels per day.  And capital spending in Q3 is forecast from $1.4 billion to $1.5 billion.  Clay Gaspar, president and CEO, said Aug. […]

Dallas-based Peregrine Energy Partners said last week it recently completed three acquisitions, including a producing mineral position in northwest shelf of Permian Basin in Eddy County.  The deals added 3,680 net mineral and royalty acres in New Mexico, Colorado, Pennsylvania and West Virginia.  Financial terms were not announced. Peregrine said Aug. 4 the acquired assets […]

The Woodlands-based Ring Energy said last week in second quarter it produced 12,683 barrels of oil per day and 19,990 boed, both within guidance.  Ring reported lease operating expenses of $10.12 per barrel of oil equivalent – near the low end of guidance and below the average for Q1.  Operations included three 2-mile horizontal wells, […]

Houston-based Devon Energy said last week better-than-expected well performance, primarily in Delaware Basin, led to production in the second quarter at the top end of guidance.  Devon said Q2 output averaged 1,359,000 boed, including 503,000 b/d of oil.  Clay Gaspar, president and CEO, said capital expenditures in Q2 were about 2 percent below forecast.  He […]

Midland’s Permian Resources last week increased its 2026 oil production target to 199,000 b/d based on mid-point of guidance (10 percent more than 2025) and adjusted its cash capital expenditures to a range of $1.9 billion to $2.0 billion.  Co-CEO James Walter said increased production will come from “less capital than we spent in 2025.” […]

Houston-based Phillips 66 said last week in its second quarter filing that it achieved record NGL fractionation volumes and LPG export volumes.  The report Aug. 5 said the company achieved full production at Dos Picos II, a gas plant (220 million cfd) in Permian Basin, during the quarter.  And in Q2 Phillips 66 announced construction […]

Permian Basin led major producing regions, and Texas led states in adding drilling rigs in the past week, according to the weekly report of Aug. 8 from Baker Hughes.  Permian has 263 rigs after adding 3 in past week and 7 in past year, and Texas has 275 after adding 2 in past week and […]

Houston-based Crescent Energy said last week it produced 335,000 boed in second quarter (42 percent oil, 64 percent liquids), including 140,000 b/d of oil.  Crescent enhanced 2026 guidance for total production and oil production and reduced forecast for operating costs.  Capital expenses in Q2 were $284 million.  The company improved capital efficiency and returns through […]