Midland-based CrownQuest Operating told Enverus that 9 of its top 10 wells for initial 24-hour rates were completed this year.  The wells are located in Glasscock, Howard and Midland counties.  In 2021Q3 three Wolfcamp wells in western Glasscock County produced initial rates of 4,539 boed (75 percent oil), 3,361 boed (88 percent oil) and 3,324 […]

Houston-based U.S. Well Services said Tuesday it agreed to a contract with operating subsidiaries of Callon Petroleum to provide electric pressure pumping in Permian Basin and Eagle Ford for up to three years.  Joel Broussard, USWS president, said, “We are excited to support Callon’s long-term completion program and build off our shared success from the […]

Wichita, Kansas-based MVP Holdings said Dec. 3 it acquired Echo Canyon Pipeline Holdings and subsidiaries to expand its crude business in southern Midland Basin.  Echo operates 190 miles of crude gathering pipelines in Crocket, Glasscock, Irion, Reagan and Upton counties.  It also owns truck-loading facilities, storage and multiple connections to major crude oil off-take pipelines. […]

New Mexico has joined Texas in placing restrictions on oilfield wastewater injection in Permian Basin.  Albuquerque Journal said last week the state’s Oil Conservation Division issued guidelines requiring operators southeast of Malaga in Eddy County to report wastewater injection amounts and pressure and monitor for seismic activity.  Adrienne Sandoval told the Journal, “We’ve been pretty […]

Permian Basin extended its streak to 22 straight weeks of a growing or flat count of active oil and gas drilling rigs as of Nov. 24, according to Baker Hughes.  The last time the Permian’s count declined was June 2021.  Baker Hughes said on the day before Thanksgiving there were 280 rigs in Permian Basin […]

Permian Basin is an important upstream growth target for Chevron and ExxonMobil, but independent operators are the dominant producers in the region, according to an analysis by Institute for Energy Economics and Financial Analysis (IEEFA).  The report released Nov. 15 said, “While ExxonMobil and Chevron have portrayed themselves as leaders in the Permian, the IEEFA […]

Irving-based ExxonMobil CFO Kathy Mikells said this week in a presentation of the company’s corporate plan that ExxonMobil expects to produce 700,000 oil-equivalent barrels per day by 2025 in Permian Basin (367,000 in 2020).  The global energy giant plans to maintain capital spending plans of $20 billion to $25 billion per year through 2027 and […]

Carrollton-based Allied Energy said last month it is successfully producing oil at three wells on Gilmer lease in Stephens County.  Allied said three wells have been pumping and producing crude oil and natural gas since Oct. 11, and the company is “presently working on securing a gas purchase agreement.”  The Gilmer lease is a 300-acre […]

Permian Basin and Texas once again were the leaders in new drilling rig activity last week as the basin heads toward record production in December.  Baker Hughes said as of Nov. 19 there were 278 rigs in Permian Basin (up 6 in past week, up 156 in past year) and 271 rigs in Texas (up […]

Minneapolis-based Northern Oil and Gas said last week it agreed to acquire substantially all non-operated Permian Basin assets owned by certain affiliates of Fort Worth-based Veritas Energy for $406.5 million.  The assets of about 6,000 net acres are located in Delaware and Midland basins in Eddy and Lea counties in New Mexico and Loving, Reeves, […]