Permian Basin extended its streak to 22 straight weeks of a growing or flat count of active oil and gas drilling rigs as of Nov. 24, according to Baker Hughes.  The last time the Permian’s count declined was June 2021.  Baker Hughes said on the day before Thanksgiving there were 280 rigs in Permian Basin […]

Permian Basin is an important upstream growth target for Chevron and ExxonMobil, but independent operators are the dominant producers in the region, according to an analysis by Institute for Energy Economics and Financial Analysis (IEEFA).  The report released Nov. 15 said, “While ExxonMobil and Chevron have portrayed themselves as leaders in the Permian, the IEEFA […]

Irving-based ExxonMobil CFO Kathy Mikells said this week in a presentation of the company’s corporate plan that ExxonMobil expects to produce 700,000 oil-equivalent barrels per day by 2025 in Permian Basin (367,000 in 2020).  The global energy giant plans to maintain capital spending plans of $20 billion to $25 billion per year through 2027 and […]

Carrollton-based Allied Energy said last month it is successfully producing oil at three wells on Gilmer lease in Stephens County.  Allied said three wells have been pumping and producing crude oil and natural gas since Oct. 11, and the company is “presently working on securing a gas purchase agreement.”  The Gilmer lease is a 300-acre […]

Permian Basin and Texas once again were the leaders in new drilling rig activity last week as the basin heads toward record production in December.  Baker Hughes said as of Nov. 19 there were 278 rigs in Permian Basin (up 6 in past week, up 156 in past year) and 271 rigs in Texas (up […]

Minneapolis-based Northern Oil and Gas said last week it agreed to acquire substantially all non-operated Permian Basin assets owned by certain affiliates of Fort Worth-based Veritas Energy for $406.5 million.  The assets of about 6,000 net acres are located in Delaware and Midland basins in Eddy and Lea counties in New Mexico and Loving, Reeves, […]

Houston-based Breakwater Energy Partners said last week it started construction on Morita, a commercial recycling facility in Howard County that Breakwater said will be “one of the largest produced water recycling facilities in the Permian Basin with throughput capacity in excess of 200,000 barrels per day.”  Morita will be commercially permitted for receipt, storage, handling, […]

U.S. Department of Interior said Monday its Bureau of Land Management will publish a notice soon to begin a two-year moratorium on new oil and gas leasing in a 10-mile radius of Chaco Canyon in northwest New Mexico in the gas-rich San Juan Basin.  The bureau will study whether and how to institute a 20-year […]

Permian Basin added another rig last week according to Baker Hughes’ report for Nov. 12 for a count of 272 active drilling rigs in the nation’s most active basin.  Lea County, N.M., leads with 53 rigs, but Midland County (30) has surpassed Eddy County (26), N.M., for runner-up followed by Reeves County (25). Texas added […]

Oklahoma City-based Devon Energy continues to focus on Delaware Basin, where it gets 67 percent of production and exited 2021Q3 running 16 operated drilling rigs and 5 completion crews.  Devon’s total production averaged 608,000 boed in 2021Q3 to exceed guidance by 5 percent (409,000 boed in Delaware Basin for an increase since 2020Q3 of 39 […]