Houston-based APA Corp. said last week continued efficiency gains and improved uptime in Permian Basin helped its U.S. oil production exceed guidance in first quarter.  U.S. oil production averaged 124,000 barrels per day.  APA raised fullyear U.S. oil production guidance to 122,000 b/d.  Permian capex for 2026 remains $1.3 billion. APA also reported total production […]

Texas led major producing states in additional oil and gas drilling rigs for the third straight week, according to the weekly report of May 8 by Baker Hughes.  Texas now has 240 rigs after adding 2 in the previous week.  That’s down 33 or 12.09 percent from 273 rigs a year ago but up from […]

Houston-based Western Midstream Partners said last week it agreed to acquire all outstanding equity interests of Brazos Delaware in a transaction valued at about $1.6 billion ($800 million cash).  Fort Worth-based Brazos Midstream is one of the largest privately held gathering and processing platforms in Delaware Basin with gas and oil assets in Culberson, Loving […]

Midland-based Viper Energy said last week it agreed to acquire all equity interests in Riverbend Oil & Gas IX in a transaction valued at $522 million ($337 million cash).  Riverbend owns mineral and royalty interests on 3,064 net royalty acres in Delaware and Midland basins.  Expected production in the next 12 months of these assets […]

Coterra Energy and Devon Energy said last week they have completed their previously announced all-stock merger.  Tom Jordan, chairman, CEO and president of Houston-based Coterra, said May 4 that the “overwhelming support from both Devon and Coterra shareholders affirms the compelling strategic rationale of this combination.  We will leverage our complimentary portfolios and proven operational […]

Houston-based ConocoPhillips said last week it will allocate more capital to Permian Basin in 2026 to maintain operating efficiencies in its most profitable region.  Andy O’Brien, CFO, said the increase in Permian spending will focus on operated and non-operated assets in Delaware Basin to maintain output level but not ramp up production.  The company reported […]

Spring, Texas-based ExxonMobil last week reported a small increase in production in first quarter to 4.6 million boed compared to 4.55 million boed in 2025Q1.  Officers said the decline from production of nearly 5 million boed in 2025Q4 reflected disruptions in transportation through Strait of Hormuz during the Middle East conflict.  The company’s assets in […]

Tulsa-based NGL Energy Partners said Thursday its affiliate NGL Water Solutions is beginning expansion of its Lea County Express pipeline system.  The expansion will include 60 miles of large-diameter pipeline, new disposal wells and injection facilities.  The project will expand the capabilities of NGL’s existing produced water system and significantly increase out-of-basin produced water disposal […]

Midland-based Diamondback Energy said Monday it exceeded production targets in first quarter and raised production forecast for fullyear 2026 by about 3 percent.  Diamondback produced 979,400 boed (521,000 b/d of oil) in first quarter – 1.4 percent above high end of guidance.  Oil production from the company’s 8,800 locations in west Texas was nearly 2 […]

For the second straight week, Texas led major producing states in adding active oil and gas drilling rigs.  Baker Hughes said in its weekly report of May 1 that Texas has 238 rigs after adding 4 in the previous week.  The state’s count is up 6 from 232 to start the year, but down 33 […]