Houston-based Targa Resources said Aug. 5 it will construct a cryogenic processing plant, Legacy (250 million cubic feet per day), in Midland Basin, and it completed relocation of another processing plant (200 MMcfd) to Midland Basin from north Texas. The $70 million Legacy plant is expected to begin commercial operations in 2022Q4. The Longhorn plant […]

Milan, Italy-based De Nora, global provider of water and wastewater treatment solutions with a water technologies office in Sugar Land, said Aug. 11 it completed Phase I of a large wastewater recycling project in Delaware Basin. De Nora said it achieved produced water rates exceeding 140,000 barrels a day or more than five million barrels […]

CEO of Permian Basin driller Patterson-UTI said recently that Q3 will produce a higher growth in rig count that might leave some customers scrambling for rigs. Andy Hendricks told reporters July 29 that Patterson-UTI already has signed contracts to operate an average of 24 rigs through 2022Q2 – including an international E&P company that will […]

Houston-based Moss Creek Resources Holdings, subsidiary of Surge Energy, said Aug. 11 it acquired leasehold interests and wells in Howard County from Apache for $37.5 million. The assets include 4,000 net leasehold acres (100 percent held by production) adjacent to existing leasehold position, 800 net boed of production, 14 net drilling locations, and saltwater disposal […]

Midland-based Viper Energy Partners, mineral and royalties affiliate of Diamondback Energy, said Aug. 9 it is acquiring mineral and royalties interests from Swallowtail Royalties and Swallowtail Royalties II in a stock and cash transaction valued at $498 million ($225 million cash). Viper will acquire 2,302 net royalty acres primarily in northern Midland Basin – 65 […]

Count of active oil and gas drilling rigs in U.S. reached 500 in the past week, according to Baker Hughes, for the first time since April 2020. Baker Hughes said as of Aug. 13 there were 500 rigs in U.S. (491 week ago, 244 year ago), 245 rigs in Permian Basin (243 week ago, 117 […]

Arlington-based U.S. Energy Development Corp. announced this week its second transaction in five days in Permian Basin. CEO and board chairman Jordan Jayson said Monday the latest addition is located in Reeves County in the Delaware Basin targeting Wolfcamp purchased for $14.1 million. “The Permian Basin continues to be an area where we actively pursue […]

Denver-based Ovintiv said July 27 its Permian Basin production averaged 126,000 boed (82 percent liquids) in second quarter of 2021. The company averaged 3 gross rigs, drilled 21 net wells and had 33 net wells turned in line. Permian drilling and completion costs averaged $480 per foot year-to-date and are 11 percent lower than in […]

Dallas-based Matador Resources reported July 27 its second quarter featured record operational and financial achievements, including a significant increase in net income and all-time quarterly highs for oil and natural gas production and revenues. Matador reported better-than-expected performance by 13 Voni wells in the Stateline asset area and by the Rodney Robinson wells in the […]

Texas Petro Index by Texas Alliance of Energy Producers gained again in June for the third straight month and fourth time in six months of 2021. The index prepared by economist Karr Ingham grew to 147.2 in June after 143.1 in May, 139.7 in April and 138.3 in March. The index started 2021 with 131.5 […]