Deep Blue Midland Basin, Diamondback Energy and Five Point Infrastructure said last week they agreed for Deep Blue to acquire Environmental Disposal Systems from Diamondback.  The transaction doubles Deep Blue’s scale and advances “its leadership in sustainable produced water management.”  The acquisition is valued at $750 million.  Diamondback renewed its 15-year dedication to Deep Blue […]

In the 2Q earnings call for Texas Pacific Lands, CEO Tyler Glover said the belief that Permian geology is nearing exhaustion and past its peak is “a misguided conclusion.”  He added, “First, a slowdown in activity due to lower oil prices should not be conflated as the slowdown due to limited drilling inventory.  Upstream companies […]

From 2020 to 2024 total crude oil and lease condensate production in the U.S. grew by 1.9 million barrels per day, and 93 percent of that production growth was produced in 10 counties in Permian Basin in west Texas and southeast New Mexico.  Two of these counties, Lea and Eddy in New Mexico, accounted for […]

A new cryogenic gas processing plant in Martin County by Brazos Midland Processing qualified for Texas’ Jobs, Energy, Technology and Innovation (JETI) program, Gov. Greg Abbott announced last week.  The new plant, Sundance II, with capacity of 300 million cubic feet per day, will create $185 million in capital investment.  Brazos Midstream owns and operates […]

ExxonMobil is the leading operator in both U.S. and Permian Basin, and the industry major based in Spring, Texas, is the only top 10 operator to add working rigs in the past year.  As of Aug. 22, according to Enverus, ExxonMobil had a weekly average of 37.7 active rigs – down from 39.1 the previous […]

Texas added a drilling rig in the past week for the first time since May 9 – breaking a streak of 16 weeks of declining or flat rig counts.  Baker Hughes said as of Aug. 29, there were 241 active rigs in Texas – up 1 in the past week but down 33 or 12 […]

A subsidiary of Plains All American Pipeline and Plains GP Holdings agreed to acquire the 55 percent non-operated interest in the EPIC crude oil pipeline held by subsidiaries of Midland’s Diamondback Energy and Kinetik Holdings. The deal announced Tuesday is valued at $1.57 billion, including the assumption of $600 million in debt. The remaining 45 […]

Vicki Hollub, president and CEO of Houston-based Occidental Petroleum, is one of five women who will be inducted into the Texas Women’s Hall of Fame to honor their achievements, leadership and contributions to the state.  Gov. Greg Abbott announced the awards and said the ceremony will be held Nov. 6 at Texas Woman’s University in […]

Oklahoma City-based Mach Natural Resources said recently it is acquiring assets in Permian Basin to mark its entry into the basin.  The acquisition for $500 million from Sabinal Energy includes about 130,000 net acres with first quarter production of 11,000 boed (98 percent liquids). The deal diversifies the Mach portfolio with 55 percent in Mid […]

Austin-based WhiteWater said Monday that its Matterhorn joint venture with ONEOK, MPLX and Enbridge will build the Eiger Express pipeline after securing sufficient transportation agreements with contracts of at least 10 years.  Eiger Express will transport up to 2.5 billion cfd of natural gas through 450 miles of 42-inch pipeline from Permian Basin to a […]