Permian Basin
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
Axis' EPIC RIG provides improvements in safety and efficiency, as well as the ability to run on grid power for reduced emissions and increased fuel flexibility.
News
February 28, 2024
Approximately 60% of total investments are planned to be allocated to the Permian basin, with the remainder to the DJ basin. Civitas expects to drill and complete 130 to 150 gross wells in the Permian basin and 90 to 110 gross wells in the DJ basin.
News
February 14, 2024
Capital investment in shale and exploration will be trimmed by $320 million, and two rigs in the Permian will be idled this year, the Houston-based company said Wednesday. Spending will increase in the Gulf of Mexico, chemicals and the enhanced oil recovery business.
News
February 14, 2024
Diamondback Energy Inc.’s blockbuster deal for Endeavor Energy Resources LP makes the company’s shares the best way to invest in the prolific Permian basin in Texas, according to Tortoise Capital Advisors LLC.
News
February 13, 2024
The operators, today running a total of 26 rigs in the Permian basin, will see that count whittled down to between 20 and 22 over time, Kaes Van’t Hof, chief financial officer at Diamondback, said Monday on a conference call. They’ll be more efficient, however, meaning production will rise modestly despite the curtailed rig count.
News
February 12, 2024
The two companies, headquartered across the street from one another in Midland, the heart of the Permian basin, will have a combined 838,000 net acres and have net production of 816,000 boe, according to the statement.
