Oklahoma City-based Chesapeake Energy said recently it plans to acquire Spring-based Southwestern Energy for $7.4 billion to create a natural gas producer with more than 5,000 locations that currently produce about 7.9 Bcfd. The company will have 1.2 million net acres in Appalachia and 650,000 acres in Haynesville. Nick Pope of Seaport Research told Oil […]
Enterprise increases interests in midstream assets in Texas, including Whitehorn
Houston-based Enterprise Products Partners said last week it increased its interests in certain midstream assets in Texas through deals with Western Midstream Partners. In the Permian Basin, Enterprise consolidated ownership by acquiring interests in Whitehorn Pipeline and Enterprise EF78 from affiliates of Western Midstream in a series of debt-free transactions for $375 million cash. Enterprise […]
Energy Transfer reports commitments for Warrior pipeline from Permian Basin
Dallas-based Energy Transfer Partners said recently it has commitments for about 25 percent of capacity for Warrior natural gas pipeline. It’s a 260-mile pipeline from Permian Basin to Energy Transfer interconnects southwest of Fort Worth with continued transport to Gulf Coast. Mike McCrea, co-CEO and CCO, said Feb. 14 during an earnings call that the […]
Atlas Energy acquires Permian Basin proppant assets of Hi-Crush
Austin-based Atlas Energy Solutions said Tuesday it agreed to acquire all Permian Basin proppant production assets and North American logistics operations of Houston-based Hi-Crush in a transaction valued at $450 million. The transaction includes $150 million upfront cash, $175 million in stock and $125 million in deferred cash. Atlas said the combination “brings together two […]
Rig counts increase in Permian Basin, Texas, New Mexico and U.S.
Permian Basin, Texas, New Mexico and U.S. each reported an increase in count of active oil and gas drilling rigs in the past week. Baker Hughes said as of Feb. 23 there were 314 rigs in Permian (312 previous week, 353 year ago), 301 in Texas (299 previous week, 370 year ago) and 102 in […]
Oxy production in Permian to be flat in 2024 after 14 percent increase in 2023
Houston-based Occidental Petroleum said recently its 2024 production in Permian Basin will be flat after a 14 percent increase last year. Total production this year is forecast at 1.22 million-to-1.28 million boed (midpoint would be an increase of 2.2 percent from 2023). In 2023Q4 Occidental’s total production was 1.23 million boed, including 588,000 boed from […]
Targa reports record Permian volumes, startup of Wildcat II gas plant
Houston-based Targa Resources reported recently Permian record volumes for fullyear 2023 and 2023Q4 and said it completed and commissioned in late 4Q the Wildcat II gas plant in Winkler County in Delaware Basin. Wildcat II capacity is 275 million cfd. Targa produced record Permian, NGL transportation, fractionation and LPG export volumes for 2023 fullyear and […]
One seat on Railroad Commission included in Texas primary elections March 5
Election day is Tuesday, March 5, for Texas’ primary elections for federal, state and local offices. Included is an election for one of three seats on the Railroad Commission of Texas, the agency that regulates the state’s oil and gas industry. Candidates on the Republican ballot are incumbent Christi Craddick of Midland, current chair of […]
EIA forecasts Permian oil production to increase to 6.085 million b/d in March
Permian Basin is one of four major producing regions expected to increase production of crude oil next month. In the latest drilling productivity report Feb. 12 from U.S. Energy Information Administration, crude oil in Permian Basin is forecast at 6.085 million barrels per day for March – an increase of 14,000 b/d from 6.071 million […]
Diamondback subsidiary, Verde agree on natural gas-to-gasoline project
Houston-based Verde Clean Fuels said last week it executed a joint agreement with Cottonmouth Ventures for the proposed development, construction and operation of a facility in Martin County to produce commodity-grade gasoline using associated natural gas from Diamondback Energy in Permian Basin. Cottonmouth is a subsidiarity of Midland’s Diamondback. The agreement provides “a pathway forward […]
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