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Oklahoma City-based Mach Natural Resources said Thursday it has acquired oil and gas assets totaling about $1.3 billion to mark entry into Permian Basin and San Juan Basin to complement its existing operations in Mid Continent. These assets lie on the Central Basin platform and its eastern, northern and northwest shelves.
Hart Energy reported recently that Fort Worth-based Blackbeard Operating is leading a horizontal drilling resurgence in Central Basin platform, “a legacy oilbasin that’s drawing industry attention once again.” Blackbeard has drilled more than 225 horizontal wells since 2021Q2.
to deliver a 45 MMSCFD NiTech Dual Tower Nitrogen Rejection Unit (NRU) and oil removal system. The two companies share a mutual goal of advancing gas processing in the Permian Basin. The post Permian Basin Gets Nitrogen Rejection Unit appeared first on Permian BasinOil and Gas Magazine.
Geothermal energy in the Great Basin of Nevada and adjoining states could produce electricity equal to one-tenth of the current U.S. We launched this work in the Great Basin because of the area’s history of geothermal activity—and we found even more potential for baseload power than had previously been known.
Dallas-based Peregrine Energy Partners said last week it acquired producing and non-producing oil and gas minerals and royalties in six states, including Texas and New Mexico. The Texas and New Mexico assets included more than 400 net mineral acres in Delaware Basin.
Onshore crude oil production in U.S. Energy Information Administration, driven by growth in tight oil production in Permian Basin. Onshore production includes both legacy oil production primarily from vertically drilled wells and newer tight oil production primarily from horizontally drilled wells.
Counts of active oil and gas drilling rigs in U.S. and Permian Basin continue to fall, according to the latest report from Baker Hughes. percent from 585 a year ago) and 265 rigs in Permian Basin (down 5 from 270 last week and down 40 or 13.1 Among Permian Basin leaders, only Loving County added rigs in the past week.
percent interest in Delaware G&P, Delaware Basin joint venture, from NGP XI Midstream Holdings for $940 million ($530 million cash). Delaware Basin JV owns natural gas gathering and processing facilities in Delaware Basin in west Texas and southeast New Mexico with total processing capacity of more than 700 million cubic feet per day.
Texas Oil and Gas Association reported Monday record amounts of natural gas production in the state this year. Crude oil production remained steady at 5.7 Europe received 61 percent of Texas LNG exports and 40 percent of crude oil exports. total crude oil production and 29.2 TXOGA said natural gas withdrawals rose to 36.9
Geological Survey that shows significant increases in undiscovered crude oil and natural gas under federally managed U.S. The report shows federal lands in Permian Basin with 8.936 billion barrels of oil and 58,468.4 billion barrels of oil and 391.6 billion barrels of oil and 201.1 public lands.
Consistent with Post Oak’s four earlier funds, Fund V will focus on the lower middle market of North American upstream oil and gas industry. Fund V has made commitments to five portfolio companies with capital deployed across the Permian, Haynesville and Utica basins.
and Permian Basin, according to June 13 report from Baker Hughes. lost a rig this week but still leads Permian Basin with 49. Permian Basin decline for seventh consecutive week appeared first on Permian BasinOil and Gas Magazine. down 4 from 559 week ago, down 35 or 6 percent from year ago).
Tyler-based Mewbourne Oil Co. moved to second in Enverus’ latest list of the most prolific 100 private oil and gas producers in the U.S. Mewbourne, founded in 1965, coordinates its operations in Permian Basin from offices in Midland and Hobbs, N.M. based on gross operated production, well count and rig movements in 2024.
Oil and gas operators in nearby Permian Basin, a source of light pollution, also have adopted dark sky friendly lighting at drilling rigs and gas plants in west Texas. The post Oil, gas operators adopt dark sky friendly lighting to help reduce light pollution appeared first on Permian BasinOil and Gas Magazine.
Texas oil and gas companies face new deadlines to plug inactive wells after Gov. Mayes Middleton, R-Galveston, in the recent legislative session, requires oil and gas operators to plug wells have been inactive for at least 15 years. Todd Staples, president of Texas Oil and Gas Association, applauded the bill.
crude oil production reached a record of 13.47 EIA said in Texas, the nation’s top producing state, oil production increased by 1.8 oil output hits record 13.47 million b/d appeared first on Permian BasinOil and Gas Magazine. Energy Information Administration. That topped the record of 13.45 percent to 5.77
Houston-based Coterra Energy said last week it will run 9 rigs in Permian Basin in second half of 2025 rather than 7 as announced in May. The post Coterra Energy plans to run 9 rigs in Permian in second half rather than 7 appeared first on Permian BasinOil and Gas Magazine.
Governor Greg Abbott was in Midland recently to sign new legislation for oilfield theft protection in the Permian Basin. The governor’s office said, “Organized criminals and cartels have increasingly targeted oil pipelines and storage tanks, stealing millions of dollars from communities in the Permian Basin.” The post Gov.
Energy Information Administration reduced its forecast for crude oil production this year. In its Short-Term Energy Outlook released Tuesday, EIA said, “Declining oil prices have contributed to U.S. crude oil production will decline from an all-time high of just over 13.4 production of crude oil was 11.99
and Permian Basin. this time a year ago), Mewbourne Oil with 21 rigs (weekly average of 20.3 In the Permian Basin as of July 4, ExxonMobil led with a weekly average of 35.9 Permian in rig count; Permian reports decline in permits appeared first on Permian BasinOil and Gas Magazine. In the U.S.,
It will utilize existing infrastructure to provide a new pathway from the Waha residue markets in Permian to Mid Continent residue markets in Anadarko Basin. Palo Duro will be a 275-mile, high-pressure natural gas pipeline connecting downstream pipelines while providing takeaway from the Permian Basin.
Viper is now clearly a must-own public mineral and royalty company in North America with attractive size and scale in the Permian Basin.” Sitio’s assets included 25,300 net royalty acres in the Permian Basin and 9,000 additional net acres in Eagle Ford, DJ and Williston basins.
declined in South Central appeared first on Permian BasinOil and Gas Magazine. Design capacity decreased slightly in 2024 in South Central region. The post EIA: Gas storage capacity increased in 2024 in U.S.,
By deepening our operational footprint in the premier Permian Basin and other key regions, we will continue to align our resources with profitable, high-demand market segments. The post Archrock acquires NGCS to expand compression assets in Permian Basin appeared first on Permian BasinOil and Gas Magazine.
and Permian Basin declined for the ninth straight week, according to the weekly report of June 27 from Baker Hughes. down 7 from 554 previous week, down 34 or 6 percent from 581 year ago) and 270 rigs in Permian Basin (down 1 from 271 previous week, down 35 or 11.5 Rig counts in U.S. There were 547 rigs in U.S.
New Mexico reversed its streak of rig count declines, but the counts in Permian Basin, Texas and U.S. Baker Hughes said as of June 20 there were 271 active rigs in Permian Basin (down 2 from 273 last week, down 37 from 308 year ago), 258 in Texas (down 4 from 262 last week, down 24 from 282 year ago) and 554 in U.S. continued to fall.
COG Operating announced June 27 resolves a contentious dispute between surface estate owners and mineral estate holders “with far reaching implications for the water midstream sector and upstream oil and gas industry.” COG said it owned the produced water and sued, the trial court agreed with COG, and the court of appeals affirmed.
The inventory of proposed gas power plants in Texas as reported Wednesday by Environmental Integrity Project includes multiple plants in Permian Basin. The post Inventory of proposed gas power plants include multiple projects in west Texas appeared first on Permian BasinOil and Gas Magazine.
STRATOS is under construction in Ector County in Permian Basin. The post JPMorganChase purchases 50,000 metric tons of carbon dioxide removal credits appeared first on Permian BasinOil and Gas Magazine.
District Court alleging that some of the nation’s largest oil producers have colluded in recent years to artificially increase the price of crude oil. The post Lawsuits against producers for inflating prices combined in federal court in NM appeared first on Permian BasinOil and Gas Magazine.
Midland-based Permian Resources last week revised 2025 guidance after making a bolt-on acquisition in northern Delaware Basin. Its expected to add 12,000 boed (45 percent oil) in 2025 second half. First quarter production was 174,967 barrels of crude oil per day and 373,200 boed. for $608 million. billion to $2.0
Crude oil drivers for Sunoco Logistics Partners (also known as Energy Transfer ) have successfully forced United Steelworkers (USW) union bosses out of their work unit, according to a statement issued on May 20 by the The National Right to Work Legal Defense Foundation.
Houston-based Northwind Midstream Partners said recently it received approval from New Mexico Oil Conservation Commission for an additional acid gas injection (AGI) and carbon sequestration well at its Titan treating complex in Lea County, N.M. Northwind said it will further expand total treating capacity to 400 million cfd by 2026.
Houston-based EON Resources, independent upstream energy company with properties in Permian Basin, said last week that subsidiary EON Energy agreed with WPP NM and Northwest Central to acquire all their interests in South Justis field in Lea County, N.M. EON is acquiring 5,360 leasehold acres with a total of 208 wells.
Civitas said May 8 that production guidelines this year remain at 330,000 boed and 152,500 barrels per day of crude oil. First quarter production was 311,000 boed (down 14 percent from 4Q) and 141,000 b/d of oil (down 12 percent from 4Q) from its operations in Permian Basin and DJ Basin. billion to $1.9 billion for 2025.
Officials from Texas Department of Public Safety told the Houston Chronicle there has been a surge in activity in oilfield theft the past two years in Permian Basin. The post FBI task force, Texas DPS report surge in oilfield theft in Permian Basin appeared first on Permian BasinOil and Gas Magazine.
The post Energy Workforce says oilfield services sector remains “resilient” appeared first on Permian BasinOil and Gas Magazine. In May employment in oilfield services also included 53,346 jobs in Louisiana, 48,618 in Oklahoma, 25,938 in Colorado and 23,894 in New Mexico.
The expansion was completed May 29 to increase capacity of the Mongoose plant in Westbrook in Mitchell County in Midland Basin by 53 million cfd from its Phase I capacity of 17 million cfd. The post Tejon completes Phase II expansion of Mongoose plant in Mitchell County appeared first on Permian BasinOil and Gas Magazine.
Houston-based Plains All American Pipeline said recently it acquired the Permian Basin crude oil gathering system of Black Knight Midstream. Chris Chandler, COO, said of the Black Knight asset, Its in the absolute core of the northern Midland Basin. The $55 million deal closed May 1.
Houston-based Coterra Energy said last week it is reducing plans for oil-directed rigs in Permian Basin in second half of 2025 while boosting spending for gas assets in Marcellus. Coterra expects 2Q production of 710,000 to 760,000 boed (147,000 to 157,000 b/d of oil). billion at midpoint. billion at midpoint. billion to $2.3
The Permian Basin’s hirings, promotions, and other personnel matters in the nation’s biggest oil patch—or in companies who do business here. During his multi-decade career at Pioneer, Hall held leadership roles overseeing development and operational strategy in multiple regions, including the Eagle Ford and Permian Basin.
The count of active drilling rigs in Permian Basin declined again for the past week, according to Baker Hughes. The post Permian Basin reports lowest rig count in 42 months since November 2021 appeared first on Permian BasinOil and Gas Magazine. Its Permians lowest count for 42 months since November 2021.
Concord Oil and Mission Oil. Collectively they own mineral and royalty interests across the Permian Basin in west Texas and Eagle Ford in south Texas. The companys announcement said, This strategic transaction expands Elk Ranges footprint across premier oil and gas producing regions in Texas.
Atlanta-based RPC, oil and gas services company, said recently it acquired Pintail Alternative Energy, which does business as Pintail Completions, for $245 million ($170 million cash). The Midland company is a leading provider of oilfield wireline services in the Permian Basin.
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