Reuters reported July 30 that Bryan Sheffield’s new fund Formentera Partners made its first purchase. The private equity income fund bought oil wells in Texas panhandle for about $121 million from an undisclosed seller. The assets span about 11,000 acres with production of 30 million cubic feet equivalent per day from about 200 wells. Sheffield, […]

Whistler pipeline began commercial operation July 1 to provide about 2.0 billion cubic feet per day of natural gas transport capacity from Permian Basin to Texas Gulf Coast. The pipeline consists of a 450-mile transmission line running between Waha hub in west Texas and Agua Dulce (providing shippers with access to Gulf Coast industrial and […]

Houston-based Callon Petroleum, Permian and Eagle Ford driller, said Wednesday it will acquire leasehold interests and related oil, gas and infrastructure assets of Delaware Basin operator Primexx Energy Partners in a cash ($440 million) and stock transaction valued at $788 million. Dallas-based Primexx has a contiguous leasehold of 35,000 net acres in Reeves County with […]

Texas Alliance of Energy Producers will conduct its annual conference Sept. 14-15 at Hotel Drover in the historic Fort Worth stockyards. The conference will begin at 5 p.m., Tuesday, Sept. 14, with the alliance’s “Oil Patch” reception and opening of exhibits and conclude at 12:30 p.m. Sept. 15 with its industry luncheon. Speakers will include […]

Permian Basin, Texas and U.S. continue to add oil and gas drilling rigs. In its weekly report of active rigs July 23, Baker Hughes said there were 242 rigs in Permian Basin (238 last week, 126 last year), 228 rigs in Texas (222 last week, 103 last year) and 491 rigs in U.S. (484 last […]

U.S. Bureau of Labor Statistics said June was the fourth straight month of employment growth for the oilfield services and equipment sector. An estimated 8,000 jobs were added in June – more than half (4,440) in Texas. Year to date, according to the bureau, the oilfield services sector has brought back 18,600 jobs – still […]

Houston-based Select Energy Services, provider of life-cycle water and chemical solutions, said July 12 it acquired Complete Energy Services, operating subsidiary of Superior Energy Services. Select acquired substantially all water-related assets and operations of Complete Energy, provider of completion and production-related water solutions across the U.S., including Permian Basin. John Schmitz, Select chairman, president and […]

Houston-based Pinnacle Midstream II said July 21 it started Phase II of its Dos Picos system, including construction of a natural gas processing facility in Midland County with capacity of 200 million cubic feet per day. Commercial operation is expected to begin in 2022Q2. The Dos Picos plant will complement Pinnacle’s existing high-pressure, large-diameter gathering […]

Tulsa-based NGL Energy Partners said July 21 it completed the first of two large-scale wastewater recycling projects in Lea County, N.M. The project, which began in May, serviced a customer’s simultaneous fracturing completion activities. NGL Energy treated and provided a customer about 130,000 barrels per day with peak volumes of 140,000 b/d. NGL Energy said […]

Houston-based Lime Rock Resources said Monday it agreed to buy oil and gas properties primarily in Loving County in Delaware Basin for $508.3 million from a private seller. The transaction is expected to close Sept. 30. The property was producing 15,163 boed as of April 1. Eric Mullins, chairman and CEO, said the deal “fits […]