Midland-based Diamondback Energy said April 1 it completed its previously announced acquisition of subsidiaries of Double Eagle IV Midco.  The $4.1 billion purchase (cash and equity) covered about 40,000 net acres in Midland Basin with an estimated 407 gross drilling locations and anticipated 2025 production of 39,000 boed (69 percent oil).

The Woodlands-based TETRA Technologies recently announced a pilot project with EOG Resources to use TETRA’s Oasis total desalination solution (TDS) to process produced water in Permian Basin.  After TETRA and Houston-based EOG successfully treated produced water in south Texas, the new Permian Basin project will start in first half 2025, including a rangeland grass growth […]

RWE Clean Energy, a German energy company, is expanding its renewable energy assets in west Texas to meet rising demand from oilfield electrification and manufacturing and industrial growth.  RWE said March 18 it is partnering with GE Vernova to secure 109 2.82-megawatt wind turbines for two projects near Big Spring that will provide a total […]

U.S. Environmental Protection Agency approved Class VI permits to sequester carbon dioxide captured from STRATOS when the world’s largest direct air capture facility begins operating in Ector County later this year.  Occidental and subsidiary 1PointFive said Monday the permits “allow Occidental to leverage its expertise managing large quantities of CO2 while advancing technology that strengthens […]

Dallas-based Matador Resources said last week it sold its two remaining acreage and production positions in Eagle Ford Shale in south Texas to focus on developing its acreage in northern Delaware Basin in west Texas.  Matador said April 4 the sale is part of “precautionary actions” it has taken to help “fortify” its balance sheet […]

Permian Basin extended its losing streak to five weeks in Baker Hughes’ latest weekly drilling rig report.  As of April 4, there were 294 active rigs in Permian Basin (down 3 from 297 previous week, down 23 from 317 year ago).  The high count for Permian this year was 305 as of Feb. 28 after […]

Houston-based Phillips 66 said last week it completed the previously announced acquisition of EPIC Y-Grade GP and EPIC Y-Grade for $2.2 billion.  The EPIC NGL assets include two fractionators in Corpus Christi with a combined capacity of 170,000 b/d, 350 miles of purity distribution pipelines, and an 885-mile NGL pipeline with capacity of 175,000 b/d […]

Four new members will be added to the Petroleum Hall of Fame Thursday at Bush Convention Center in Midland.  W.E. Connell, Jack D. Hightower, Autry C. Stephens and Peggy C. Worthington were selected by the board of the Permian Basin Petroleum Museum.  Since Frank T. Pickrell of El Paso was first inducted in 1968, there […]

Officials from Federal Reserve Bank of Dallas said about two-thirds of the record amounts of oil production in New Mexico comes from production on federal land.  Oil production in the state comes from lands where private, state, federal or Native American tribes control the mineral rights.  Most production on the Permian portion of New Mexico […]

Plano-based Mentor Capital said last week it purchased 25.127 net royalty acres in a 71-well producing project in Permian Basin.  Mentor said its royalty stream is equivalent to 12.5 percent of oil and gas revenues for its acreage.  The average production for Mentor’s portion of the project is 10 barrels of oil per day plus […]