Houston-based APA Corp., holding company for Apache Corp., said Monday it closed on two transactions generating net proceeds of more than $1 billion.  APA subsidiaries completed a sale March 7 of Delaware Basin mineral interests to undisclosed buyer with estimated production of 7,000 boed for $805 million, and March 11 an APA subsidiary completed sale […]

Oil production in Permian Basin is forecast to reach a record 5.208 million barrels per day in April by U.S. Energy Information Administration.  EIA said in its drilling productivity report March 14 that Permian Basin will produce an additional 70,000 b/d in April after 5.138 million b/d in March.  U.S. production for seven major regions […]

Houston-based Coterra Energy said last month it is drilling the largest 3-mile Wolfcamp development in the Delaware Basin.  Enverus reported that Coterra’s 14-well Prewit-Justify/Authentic development (50 percent working interest) will have laterals averaging 15,750 feet and utilize 8-well-per-section spacing.  Coterra predecessor Cimarex Energy reportedly completed only one Permian lateral of more than 15,000 feet (seven […]

Doug Ackerman, CEO of the Dairy Alliance that promotes the nation’s dairy industry, has been named president and CEO of the New Mexico Oil and Gas Association.  NMOGA said March 1 that Ackerman will assume his new role immediately to replace interim president and CEO Leland Gould, who began serving in March 2021 after the […]

Incumbent commissioner Wayne Christian, chairman of the Railroad Commission of Texas, will face oil and gas attorney Sarah Stogner in a runoff election in the Republican primary May 24.  In the March 1 primary, Christian received 47 percent of votes to fall short of the 50 percent needed to gain the party’s nomination for a […]

For the first time this year, U.S. failed to report an increase in Baker Hughes’ count of active oil and gas drilling rigs.  As of March 4 there were 310 rigs in Permian Basin (up 1 in previous week, up 99 in previous year), 308 in Texas (down 4 in previous week, up 106 in […]

Fort Worth-based HighPeak Energy said Feb. 22 it is acquiring oil and gas properties contiguous to Flat Top in Borden and Howard counties from private sellers in deals valued at $160.6 million.  Midland Basin pure play HighPeak is adding about 9,500 net acres with estimated production of 2,500 boed along with 40 horizontal drilling locations, […]

Midland-based Catalyst Energy Services recently debuted its 50,000-HHP hydraulic fracturing fleet known as Vortex Prime that uses direct-drive turbine technology.  Bobby Chapman, president and CEO, told Journal of Petroleum Technology, “I have spent more than four decades studying and innovating pressure pumping.  Developing Vortex Prime, which will dramatically and literally change the fracing landscape, is […]

Frisco-based Verde Bio Holdings said Feb. 9 it will acquire mineral and royalty interests in Howard County for $325,000 from a private seller.  The assets of 6 wells are operated by Ovintiv, whose 3 rigs are focused on Spraberry and Wolfcamp formations in Midland Basin.  CEO Scott Cox said, “We continue to execute on our […]

Austin-based Brigham Minerals said Feb. 10 it will acquire mineral and royalty interests in Midland Basin in a cash and stock deal ($15 million cash).  The 1,800 net royalty acres are operated primarily by Pioneer Natural Resources and Endeavor Energy Resources.  Estimated 2022 production is 225 to 275 boed.  Closing is expected in April.  Brigham’s […]