Houston-based U.S. Well Services said May 24 it expects to become the first publicly traded, pure-play electric completions services provider by the end of this year. The company announced its commitment to becoming an all-electric hydraulic fracturing services provider and to exit the diesel frac market by YE 2021. “We are excited to execute on […]

Cimarex Energy and Cabot Oil & Gas said May 24 they will merge in an all-stock transaction creating a diversified U.S. onshore producer that Enverus said will have an enterprise value of about $17 billion. Cimarex drills on 560,000 net acres in Permian and Anadarko basins, and Cabot operates on 173,000 net acres in Marcellus […]

After increasing in February for the first time in two years, Texas Petro Index declined slightly in March to 138.3 because of a record-setting winter storm, according to economist Karr Ingham. The index fell for the 23rd straight month during the pandemic in January to 131.5, then grew to 138.8 in February before falling again. […]

New Mexico and Oklahoma were the only major producing states to add oil and gas drilling rigs in the past week, according to Baker Hughes in its weekly report of May 21. New Mexico was up 2 rigs to 70, and Oklahoma was up 4 to 26. Baker Hughes said there were 455 rigs in […]

U.S. Energy Information Administration forecasts the second straight month of increased production of crude oil in June across seven major U.S. regions. Permian Basin is expected to add 54,000 b/d for output of 4.589 million b/d in June. Appalachia is the only other region forecast to grow oil production in June. In seven regions, crude […]

The Woodlands-based Navitas Midstream Partners recently awarded a contract to Honeywell UOP for a cryogenic natural gas processing plant (capacity 200 MMcfd) that will extract NGLs from gas produced in several west Texas counties. Navitas owns and operates nearly 1,500 miles of gas-gathering pipelines, 660 MMcfd of gas processing capacity, and 210 hp of field […]

Tulsa-based Empire Petroleum said May 18 it acquired producing oil and gas assets and related gathering assets in Lea County, N.M., through its subsidiary Empire New Mexico. The assets were acquired from ExxonMobil’s XTO Holdings. The acquisition is comprised of about 700 gross oil, gas and injector wells that encompass about 40,000 net acres of […]

Houston-based Oasis Petroleum said May 20 it is divesting its Permian Basin assets to focus on its core in Williston Basin. Buyers were not named by Oasis for three transactions with gross potential consideration of $481 million, including $406 million at closing. The transactions include 24,000 net acres and 2021Q1 production of 7,200 boed. Oasis […]

Houston-based Occidental Petroleum said May 10 its 2021Q1 production in Permian Basin of 457,000 boed was high end of guidance. Oxy reported record single-well drill times in both New Mexico and Texas sides of Delaware Basin and also in Midland Basin. Oxy ran 12 rigs in Permian in Q1 and brought online 44 wells with […]

Railroad Commission of Texas said May 17 it recently completed a four-year project to clean the Wheeler Road Westex Notrees surface waste disposal facility near Odessa. The $9 million remediation work began in 2017 to clean the site with five waste pits that operated until 2012 in Ector County. The commission said it removed 204,000 […]