Oklahoma City-based Riley Exploration Permian said Tuesday it agreed to acquire oil and gas assets in Permian Basin from Pecos Oil & Gas, affiliate of Cibolo Energy Partners, for $330 million. The assets in Eddy County, N.M., include 11,700 contiguous net acres (99 percent held by production), current production of 7,200 boed (4,200 b/d oil), […]
Continental targets Barnett Shale on Permian’s central basin platform
Enverus recently reported that during 2022Q4 Oklahoma City-based Continental Resources completed its first two wells targeting Barnett Shale not in north Texas’ gassy Fort Worth Basin but on Permian Basin’s central basin platform. Enverus said preliminary results have been oiler. One of the wells, a Gardendale asset in Ector County, flowed 2,310 boed (74 percent […]
Plains expects to benefit from continued production growth in Permian
Houston-based Plains All American Pipeline said Feb. 8 it expects its assets in Permian Basin to benefit from continue production growth in 2023. Plains said it is experiencing higher utilization for long-haul systems for Cactus I and Cactus II pipelines in Texas. Increased volumes are also expected on the Wink-to-Webster line. Willie Chiang, chairman and […]
Trends continue in Permian’s most active counties, Lea and Eddy
Rig count in Lea County, N.M., declined for the third straight week as of Feb. 17 while the count in Eddy County, N.M., increased for the fourth straight week, according to Baker Hughes. They are the two most active counties in Permian Basin. Lea continues to lead with 58 rigs (down 3 in past week), […]
EnLink to relocate gas processing plant from north Texas to Delaware Basin
Dallas-based EnLink Midstream said last week it will relocate an underutilized natural gas processing plant from Barnett Shale in north Texas to Delaware Basin at a cost of about $30 million. EnLink said Feb. 14 that Project Tiger II is “a low-cost, high-return project” expected to add 150 million cfd of natural gas processing capacity. […]
Vital Energy acquires Midland Basin assets in Reagan, Upton counties
Tulsa-based Vital Energy said last week it signed an agreement to buy assets of another Midland Basin driller, Driftwood Energy Operating, for $215.6 million in cash and stock ($127.6 million cash). The deal includes 11,200 net acres (16,500 gross, 91 percent held by production) in Reagan and Upton counties with current production of about 5,400 […]
EPA delays decision on declaring Permian counties non-attainment areas
U.S. Environmental Protection Agency said last month it has delayed a decision on whether to declare the Permian Basin a non-attainment area for ozone. Houston Chronicle called the announcement “a break for oil and gas drillers that faced potentially severe restrictions on the amount of pollution they release into the air.” EPA said last year […]
Permian down 1, Texas down 6 in rig count year-to-date
Rig counts in Permian Basin and Texas declined for the second straight week, according to Baker Hughes in its weekly report of Feb. 10. Permian Basin’s count fell by 2 in the past week to 352 (353 to start 2023), and the count in Texas was down 7 in the past week to 370 (376 […]
Oil production to grow to 5.682 million b/d in Permian Basin in March
Production of oil and natural gas continues to grow in forecasts from U.S. Energy Information Administration. In its latest drilling productivity report this week, EIA said oil production is expected to grow by 30,000 barrels per day in March to 5.682 million b/d from 5.652 million b/d in February. Overall in seven major producing regions […]
Marathon affiliate MPLX increases 2023 capital spending in Permian Basin
Growth plans for Marathon Petroleum affiliate MPLX include new gas processing plants in Permian Basin and Marcellus. MPLX said Jan. 31 its capital spending in 2023 will be $950 million, including $800 million of growth capital ($712 million last year) and $150 million of maintenance capital ($143 million last year). In the Permian Basin, MPLX […]
- « Previous Page
- 1
- …
- 74
- 75
- 76
- 77
- 78
- …
- 190
- Next Page »