Minimal new drilling activity was reported by Baker Hughes for the week that ended May 27.  There were 342 active rigs in Permian Basin (down 1 in past week, up 109 in past year), 358 in Texas (up 1 in past week, up 140 in past year), 98 in New Mexico (unchanged in past week, […]

Oslo-based research firm Rystad Energy said May 19 total production in Delaware Basin is expected to reach a record 5.7 million boed in 2022.  “Spurred on by high oil prices and appealing well economies,” Rystad said, “total production is set to grow by around 990,000 boed – almost half of which (433,000 boed) is new […]

Houston-based Crestwood Equity Partners said last week it is acquiring assets in Delaware Basin and divesting assets to exit Barnett Shale.  Crestwood agreed to acquire from Sendero Midstream Partners for $600 million cash assets in Eddy County, including 350 million cfd of processing capacity, 140 miles of natural gas gathering lines, and more than 53,000 […]

Apache recently added a third drilling rig in Delaware Basin, and the Houston-based company said after that rig completes six wells it will move to Alpine High in Reeves County to drill two 3-well pads. Apache officials told Midland Reporter Telegram they “did not need natural gas at $9 per Mcf to make Alpine High […]

Dallas-based Canes Midstream said Wednesday it closed a transaction to acquire Cogent Midstream, also based in Dallas.  Cogent assets in a 10-county area of Midland Basin include 520 million cfd of processing capacity, about 800 miles of pipelines, 42 compressor stations, crude oil gathering system, and acreage dedications from Midland Basin producers.  Infrastructure is primarily […]

After a pause in activity that added only 1 rig in the last 4 weeks, Permian Basin added 8 rigs last week for a new total of 343 active oil and gas drilling rigs as of May 20, according to Baker Hughes.  Also there were 357 rigs in Texas (up 12 in past week, up […]

U.S. Energy Information Administration expects continued growth in crude oil production in Permian Basin and seven major producing regions.  In the latest drilling productivity report May 16, EIA said oil production in Permian is expected to grow by 88,000 b/d since last month to 5.219 million b/d in June.  Production in the seven U.S. regions […]

WhiteWater, EnLink Midstream, Devon Energy and MPLX said May 19 they reached final investment decision to construct Matterhorn Express pipeline connecting Waha in west Texas to Katy on the Gulf Coast.  The 490-mile pipeline (42 inches) is designed to transport up to 2.5 bcfd of natural gas beginning in 2024Q3.  Supply will be sourced from […]

Midland’s Colgate Energy Partners and Denver-based Centennial Resource Development said last week they agreed to merge to create the largest pure-play Delaware Basin company valued at $7 billion.  The combine will operate under a new name to be announced prior to closing with headquarters in Midland.  The new company will hold 180,000 net leasehold acres, […]

Growth in rig count and production is slowing amid rising costs in oil and gas industry.  Baker Hughes said as of May 13 there were 335 rigs in Permian Basin (unchanged in past week, up 104 in past year), 345 in Texas (up 1 in past week, up 129 in past year), 98 in New […]