Arlington-based U.S. Energy Development said Dec. 20 it completed its Rio Hondo three-well pad in western Ward County.  Each of the three Wolfcamp B horizontal wells had about 9,900 feet of completed lateral.  “We are very pleased with our drilling performance,” Kevin Duncan, vice president, said.  “Completing frac stages as designed is no easy feat […]

The first stratospheric balloon equipped with methane-detection sensors is scheduled to launch this month by San Francisco-based Scepter for ExxonMobil on the Texas side of the Permian Basin.  Philip Father, CEO of Scepter, said balloons carrying hyperspectral sensors operating in short-wave infrared never have been commercially deployed to get this detailed level of data.  Balloons […]

Austin-based Texans for Natural Gas, a project of Texas Independent Producers and Royalty Owners Association, said Dec. 21 the rate of methane emissions intensity in Permian Basin fell by 76 percent in 10 years from 2011 to 2021.  In its fourth annual report, TNG said in those 10 years production increased by 345 percent.  In […]

Fort Worth-based Kimbell Royalty Partners said Dec. 15 it completed the purchase of 889 net royalty acres in Permian Basin that produce 2,072 boed (58 percent oil) from Austin-based Hatch Royalty for $270.7 million in cash and stock ($150.4 million cash).  Kimbell said 2023 production is forecast at 2,522 boed, including 1,439 b/d of oil, […]

Tulsa-based Oneok said Dec. 20 it filed an application with Federal Energy Regulatory Commission for permission to construct and operate the Saguaro connector pipeline to export natural gas to a new international border crossing at the USA-Mexico border 18 miles southwest of Sierra Blanca in Hudspeth County.  The proposed pipeline will transport up to 2.8 […]

Minneapolis-based Northern Oil and Gas said Dec. 19 it closed on a previously announced acquisition of non-operated interests from a private seller in northern Delaware Basin for $131.6 million.  The bolt-on assets include 2,100 net acres in Eddy and Lea counties in New Mexico and Loving and Winkler counties in Texas.  Average production for 2023 […]

Permian Basin added 2 drilling rigs in the past week to match its 2022 high count of 352, according to the weekly report of Dec. 22 from Baker Hughes.  That’s an increase of 20.1 percent since starting the year with 293 rigs.  Also as of Dec. 22, there are 374 rigs in Texas (367 previous […]

Rig count in Permian Basin remained 350 as of Dec. 16, according to Baker Hughes, while the count of active drilling rigs in Texas declined for the fourth straight week to 367.  There were 370 in Texas the previous week and 275 a year ago.  Also, there are 107 rigs in New Mexico (106 last […]

San Ramon, Calif.-based Chevron said Dec. 7 its consolidated upstream spending in 2023 is expected to be $11.5 billion, including $8.0 billion in U.S. and $4.0 billion in Permian Basin.  The total is at the high end of 2022-26 guidance and more than 25 percent above 2022 spending. Chairman and CEO Mike Wirth said, “We’re […]

In its Dec. 8 announcement of corporate plans for its next five years, Irving-based ExxonMobil said production in Permian Basin is forecast to grow to more than 800,000 boed by 2027 compared to 560,000 boed in 2022Q3.  Chairman and CEO Darren Woods and CFO Kathy Mikells said Exxon will spend 70 percent of capital investments […]