Permian Basin
News
June 10, 2021
The transaction, which is expected to close in the third quarter of 2021, includes approximately 25,000 net acres in the Southern Delaware Basin in Texas with current production of approximately 10,000 barrels of oil equivalent per day from about 360 active wells.
News
June 08, 2021
KKR is bucking the trend among private-equity peers that have been unloading shale investments after back-to-back oil market busts. The move may signal a bullish turn with U.S. crude prices heading for the best annual performance since 2015.
News
June 08, 2021
Gender diversity remains a challenge in the U.S. shale patch, where fewer than two of every 10 jobs are held by women, according to the latest study by a trade group representing the hired hands of the oil field.
News
June 08, 2021
KKR and Contango are doubling down on investing in exploration and production companies as many in the sector seek to recover from years of poor returns amid the shale boom and bust. The combination is said to allow the merged company to reach greater scale, boost access to capital and drive down the cost of production.
News
June 07, 2021
Energy giant BP sees a strong recovery in global crude demand and expects it to last for some time, with U.S. shale production being kept in check, according to CEO Bernard Looney.
News
June 04, 2021
Costs for everything from labor to diesel to steel have climbed in the oil field this year as explorers return to work following last year’s pandemic-driven crash in crude prices. Steel prices for the drill pipe used in new wells could rise about 50% in 2021, Citigroup said.
News
May 24, 2021
The merger of Cabot Oil & Gas Corp. with Cimarex Energy Co. announced Monday has confounded investors and analysts, leaving them to question the logic behind a tie-up that the companies say will increase diversification. Cimarex is mostly an oil explorer in Texas and Oklahoma, while Cabot is focused on natural gas drilling in the Marcellus shale basin in Appalachia.
News
May 10, 2021
Laredo Petroleum announced a purchase and sale agreement to acquire the assets of Sabalo Energy, a portfolio company of EnCap Investments, and a non-operating partner for about $715 million, and the sale of 37.5% of Laredo's operated PDP reserves in its legacy leasehold in Reagan and Glasscock counties to an affiliate of Sixth Street Partners for proceeds of $405 million.
News
April 30, 2021
Chesapeake Energy Corp., the once mighty shale explorer that exited bankruptcy earlier this year, is seeking to sell oil-producing assets in South Texas for as much as $2 billion, according people familiar with the plan.
News
April 29, 2021
Vitol Group is said to be near a purchase of Hunt Oil Co.’s Permian Basin oil wells in what would mark the biggest independent crude trader’s first major acquisition of U.S. production assets, according to people with knowledge of the matter.
News
April 22, 2021
Kayrros has released measurements quantifying the total methane emissions across the Appalachian Basin. The findings, derived from satellite data and proprietary algorithms, place the Appalachian Basin ahead of the Permian as the biggest source of methane in the US and identify the primary sources behind its emissions.
News
April 16, 2021
BP will spend about $1.3 billion to build a network of pipelines and other infrastructure to collect and capture natural gas produced as a byproduct from oil wells in the Permian Basin of Texas and New Mexico, the Wall Street Journal reported.
News
April 16, 2021
Shale, and not the pandemic, was responsible for the initial oil-market crash of 2020, Pioneer Natural Resources CEO Scott Sheffield said at an industry summit. He added that the cartel, frustrated at U.S. producers’ success in taking market share from OPEC, allowed prices to tumble.
News
April 13, 2021
Crude production in the Permian basin will reach 4.466 million barrels a day in May, the most in a year, and rig counts have touched a one-year high, according to the latest data from the Energy Information Administration.
News
April 02, 2021
Pioneer Natural Resources Co. is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the U.S. Permian Basin.
News
March 24, 2021
Emissions from the Permian basin dropped 60% from March to April last year as oil producers shut in wells and cut back on new ones due to tumbling crude prices. But methane emissions are now back at pre-pandemic levels as drilling ramps up, according to the non-profit Environmental Defense Fund.
News
March 09, 2021
Futures in New York slipped below $65 a barrel on Tuesday in choppy trading after surging to the highest since 2018 on Monday. OECD forecasts for this year and next suggest some European economies won’t make up lost GDP in 2022.
News
February 24, 2021
Occidental has long held more pipe space than it needs from the Permian, in the hope that its shale business would eventually grow big enough to make use of it. But last year’s oil-price crash, and, more recently, the winter freeze in Texas, caused the company to cut investment and production in an effort to prioritize near-term cash flow for debt reduction.
News
February 24, 2021
Key players in the oil market have been talking up the rising prices in the coming months, with some even floating the prospect of $100 crude in the next year or two as the global economy recovers from the pandemic.
News
February 16, 2021
U.S. oil production has plunged by more than 2 million barrels a day as the coldest weather in 30 years brings havoc to key producing states that rarely have to deal with frigid Arctic blasts.
News
February 01, 2021
The transaction between Oxy and India's Reliance Industries is the energy industry’s first major petroleum shipment for which greenhouse gas emissions associated with the entire crude lifecycle, well head through combustion of end products, have been offset.
