Danny Wesson of Midland-based Diamondback Energy has been appointed by the Railroad Commission of Texas to the Texas Energy Reliability Council.  The council was established by the state legislature to “ensure that the energy and electric industries in this state meet high priority human needs and address critical infrastructure concerns” and to “enhance coordination and […]

Fort Worth-based HighPeak Energy said Oct. 28 its recently mobilized third rig in Midland Basin will not change capital expenditure guidance for 2021.  The company’s production for second half of October will average about 15,000 boed compared with 2021Q3 production of 8,168 boed.  HighPeak said it expects wells drilled with its second rig to begin […]

Texas and U.S. added drilling rigs last week while Permian Basin and New Mexico were unchanged.  Baker Hughes said as of Oct. 29 there were 268 rigs in Permian Basin (up 126 in past year), 250 in Texas (up 1 in past week, up 117 in past year), 87 in New Mexico (up 40 in […]

Additional inspectors were sent to Gardendale seismic response area north of Odessa last week by Railroad Commission of Texas after two earthquakes Oct. 26 of magnitude 3.4 and 3.6.  They are inspecting saltwater disposal well sites.  As a result of previous earthquakes, the agency in September had requested 25 operators of 76 wells in Gardendale […]

Houston-based Crestwood Equity Partners and Oasis Midstream Partners said Oct. 26 they agreed to merge in an equity and cash transaction valued at about $1.8 billion.  In Delaware Basin, Crestwood’s acquired assets include 40 miles of crude oil and 50 miles of produced water gathering pipelines in Loving, Ward and Winkler counties.  The assets complement […]

Amid forecasts for $100 oil next year, Midland-based Diamondback Energy said this week it expects to maintain 2022 production at current levels.  Travis Stice, CEO, said Monday, “We are committing to maintaining our fourth quarter 2021 Permian oil volumes throughout next year, and we believe this can be accomplished by spending the amount of capital […]

Oklahoma City-based Continental Resources said Wednesday it has agreed to acquire certain Permian Basin assets from Dallas-based Pioneer Natural Resources in an all-cash transaction valued at about $3.25 billion.  The assets include 92,000 net acres with net production of about 50,000 boed (35,000 b/d of oil), including more than 650 gross operated locations in third […]

U.S. and Texas idled drilling rigs in the past week, according to Baker Hughes, while Permian Basin added at least one rig for the 11th straight week.  As of Oct. 22, there were 268 rigs in Permian (up 1 in previous week and 135 in previous year), 249 rigs in Texas (down 1 in previous […]

Dallas-based Matador Resources and San Mateo Midstream said Oct. 20 they began operating a fifth drilling rig in August to drill an additional saltwater disposal well in Greater Stebbins area in Eddy County, N.M.  The well and associated facilities were needed to handle additional produced water resulting from Matador’s increased drilling and completion activity.  Drilling […]

Rattler Midstream, subsidiary of Midland’s Diamondback Energy, said Oct. 21 it agreed to purchase water midstream assets from subsidiaries of Diamondback for $160 million in cash in a drop-down transaction.  The assets consist primarily of produced water gathering and disposal systems, produced water recycling facilities, and sourced water gathering and storage assets acquired by Diamondback […]