Permian Basin
News
June 12, 2024
Matador expects to have over 190,000 net acres in the Delaware basin, part of the greater Permian basin, producing over 180,000 boed, with proved reserves exceeding 580 MMboe. The enterprise value of the combined company is projected to exceed $10 billion.
News
June 06, 2024
The Permian Strategic Partnership (PSP) is welcoming Energy Transfer and Phillips 66 as its newest members, expanding to 31 members. In the five years since its founding, the PSP has nearly doubled in size and exponentially expanded its impact in Southeast New Mexico and West Texas.
News
May 21, 2024
APA Corporation announced the sale of non-core producing properties by Apache Corporation in two separate transactions for over $700 million. Combined, the properties represent estimated net production in the first-quarter 2024 of 13,000 boed, of which just over one-third is oil.
News
May 03, 2024
Pioneer and Sheffield rebutted the FTC’s claims, saying his efforts were an attempt to push back against the “predatory practices” of OPEC and Russia, which had flooded the market with oil on several occasions, including in 2020, to wipe out U.S. shale.
News
May 03, 2024
The acquisition, completed on May 3, allows ExxonMobil to more than double its footprint in the Permian basin, combining Pioneer's substantial acreage and industry expertise with ExxonMobil's technological leadership and financial strength.
News
May 02, 2024
SilverBow Resources Inc. has successfully executed a horseshoe lateral in the Austin Chalk formation of South Texas, transforming a one-mile well into an 8,900-foot U-shaped hole.
News
May 02, 2024
NOG's production surge was largely driven by exceptional performance in the Permian basin, which saw a sequential quarterly increase of 6% and represented record volumes for the company in the basin.
News
May 01, 2024
The U.S. Federal Trade Commission is poised to greenlight Exxon Mobil Corp.’s $60 billion purchase of Pioneer Natural Resources Co. after the companies agreed to minor concessions, according to people familiar with the matter.
News
April 30, 2024
Diamondback Energy announced its $26 billion purchase of Endeavor Energy in February 2024. The announcement followed a wave of M&A activity in the Permian basin, like ExxonMobil’s historic purchase of Pioneer Natural Resources Co. and Chevron’s acquisition of Hess Corporation.
News
April 29, 2024
The agreement includes the deployment of two FORCE electric hydraulic fracturing fleets, wireline, and pumpdown services on ExxonMobil’s Permian operations in the first half of 2024, with an option for a third FORCE fleet with wireline and pumpdown services to commence operations in early 2025.
News
April 29, 2024
Exxon is set to become the Permian’s biggest producer once it closes its $64 billion acquisition of Pioneer Natural Resources Co. while Chevron is spending $52 billion on Hess Corp. to gain a 30% share of Guyana’s prolific Stabroek Block.
News
April 26, 2024
ExxonMobil says the transaction would help lower costs, boost U.S. oil and gas production and accelerate Pioneer’s net- zero goals.
News
April 24, 2024
While production is at record levels, productivity per well in the Permian basin has declined 15% since 2020, due to factors like interference with underground pressure from extensive drilling. However, innovations like longer lateral wells and simultaneous fracking (simul-frac) are improving efficiency and lowering costs.
News
April 24, 2024
Matador’s 2% production over-performance to start the year was done while spending less money on drilling than projected, the company said. During the first quarter of 2024, Matador’s average oil production of 84,777 barrels per day beat its guidance of 83,500 barrels, the company said.
News
April 17, 2024
Canada’s Gibson Energy Inc. is betting that swelling oil production in the Permian basin will fuel continued growth in U.S. crude exports, boosting profit from a major Gulf Coast terminal it bought last year for about $1.1 billion.
News
April 11, 2024
Diamondback in February agreed to buy fellow Texas oil-and-gas producer Endeavor in a $26 billion cash-and-stock deal to create the largest operator focused on the prolific Permian basin.
News
April 08, 2024
In the five years since its founding, the PSP has nearly doubled in size and exponentially expanded its impact in Southeast New Mexico and West Texas.
News
April 01, 2024
The acquisition will bring APA’s daily reported production to approximately 500,000 boe, approximately two-thirds coming from the Permian basin. The acquired assets include approximately 120,000 net acres in the Delaware basin and 25,000 net acres in the Midland Basin.
News
U.S. shale drillers to reduce Permian drilling emissions, increase reliability with nuclear reactors
April 01, 2024
Diamondback, the largest independent producer headquartered in the shale-oil region, has signed a nonbinding letter of intent with Oklo Inc. to deploy small reactors for some of its future power needs, according to Diamondback President Kaes Van’t Hof.
News
March 27, 2024
Drillers in the Permian basin told the survey they could profitably bore new wells with a crude price of $65 a bbl, well below the $83 actual price during the period in which opinions were gathered. The snag, however, is concern that the Biden administration may impose costly regulatory changes that would gut future profitability, survey respondents said.
News
March 13, 2024
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