Denver-based SM Energy said last week it plans to increase capital spending by about 30 percent in 2023Q4 and drill about 30 net wells, including 17 in Midland Basin.  SM Energy spent $228 million in Q3 (including 11 net wells drilled in Midland Basin) and expects to spend $290 million to $305 million in Q4.  […]

Houston-based Occidental Petroleum said this week increased productivity in Delaware Basin in the first half of 2023 continued in the third quarter.  Production in Permian Basin for Q3 was 588,000 boed (high end of guidance).  Oxy’s production in Delaware Basin was up 11 percent in first six months of this year over 2022.  Enverus said […]

Midland-based Diamondback Energy this week raised 2023 production guidance after outperformance in the third quarter.  Production in 3Q was 452,800 boed (up about 3,000 boed from 2Q) and 266,100 b/d of oil – both above high end of guidance.  Travis D. Stice, chairman and CEO, said Monday, “We are increasing our full year oil and […]

Milestone Environmental Services’ carbon sequestration hubs in Delaware and Midland basins will support reduction in emissions associated with natural gas processing, electricity generation and other industries.  Milestone’s announcement Oct. 19 of leasing an additional 22,000 acres in Loving and Midland counties from Texas Pacific Land Corp. added, “It also will contribute to attracting new industries […]

Permian Basin, Texas and U.S. each reported a decline in count of active oil and gas drilling rigs to reverse three weeks of gains.  Baker Hughes said as of Nov. 3 there were 310 rigs in Permian Basin (down 3 in past week, down 36 in past year), 304 in Texas (down 7 in past […]

Dallas-based Matador Resources said recently it turned to sales its first two “horseshoe” wells in its Wolf asset area in Loving County in Delaware Basin.  Matador said these two wells had 24-hour initial production test results of 2,477 boed (51 percent oil) and 2,166 boed (53 percent oil) in October.  Joseph Wm. Forsan, chairman and […]

Houston-based Milestone Carbon, subsidiary of Milestone Environmental Services, said recently it will lease more than 22,000 acres of land and pore space from Texas Pacific Land Corp. in Loving and Midland counties for permanent geologic sequestration of CO2.  The acreage will support carbon capture and storage at industrial facilities in west Texas, including natural gas […]

An east Texas man told Houston Chronicle he has revived oilfields in Conroe and Humble that had been shut in for decades.  Brent Franklin, 33, owner of Rise Drilling, began producing in Conroe in September for Texas-based Wheeler Resources.  Franklin, who attended Conroe High School and served in U.S. Navy, started investing in oil and […]

Enverus said Wednesday that Houston-based EOG Resources remains the largest customer in the U.S. onshore oilfield services industry.  EOG leads all exploration and production companies in feet drilled, average rig count and wells completed and ranks second in frac fluid pumped during 2023Q2, according to the most recent issue of Oilfield Pulse.  EOG held those […]

U.S. Energy Information Administration said Tuesday field production of crude oil reached a monthly high in August.  U.S. production was 404.6 million barrels during the month – 13.05 million barrels per day – to surpass the record of 401.73 million barrels in July (up 0.7 percent).  EIA said the largest increases were reported in PADD […]