Texas Tribune reported last week that Glenn Hegar, the state’s comptroller, sent letters to 19 financial firms to determine if they are violating a new state law that prohibits companies from boycotting fossil fuel companies.  The law in effect since September prohibits the state from contracting with or investing in companies that divest from oil, […]

Denver-based Ovintiv – with core assets in Permian Basin in Texas, Anadarko in Oklahoma and Montney in Canada – said Feb. 24 in Permian it averaged 118,000 boed in 2021 and 120,000 boed in 2021Q4.  Ovintiv said in 2021Q4 in Permian it averaged four gross rigs, drilled 20 net wells and had 16 net wells […]

Houston-based Battalion Oil Corp., independent energy company focused on acquisition, exploration, development and production in Delaware Basin, said March 7 it started its 2022 capital program in December with a three-well pad at Monument Draw in Pecos County.  Battalion expects to operate one rig through 2022 and maintain flat production while “driving double-digit growth in […]

Tulsa-based Laredo Petroleum, Midland Basin pure-play, said Feb. 22 it plans to maintain capital discipline in 2022 with flat activity compared to last year.  Expected capital expense is $520 million.  Laredo said oil production in 2022 will be flat with 2021Q4 (full-year oil production growth of 24-to-36 percent).  Average lateral length of wells in 2022 […]

Houston-based Western Midstream Partners, with assets in Delaware Basin in Texas and New Mexico and in four other states, said Feb. 23 it expects throughout to continue to grow in 2022.  “We expect strong producer activity levels to continue in the Delaware Basin leading to increased throughput during 2022,” Michael Ure, president and CEO, said.  […]

Dallas-based Petro-Hunt Permian said March 9 it completed an acquisition from Admiral Permian Resources of oil and gas production and leasehold in Culberson and Reeves counties in Delaware Basin.  Current gross operated production from these assets is about 7,000 b/d of oil and 100 million cfd of natural gas on 21,430 net acres.  Petro-Hunt said […]

Drilling rig counts in Permian Basin, Texas and U.S. posted sizable gains in the past week, according to Baker Hughes, amid reports from CERAWeek in Houston March 7-11 that federal officials are calling for more energy production and industry officials are saying supply chain problems could limit production.  As of March 11, there were 316 […]

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 […]