Permian Basin
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.
News
February 09, 2024
Production from the basin is set to reach 6.4 MMbpd at the end of this year, up from 6.1 MMbpd at the end of 2023, Plains All American Pipeline LP said in its fourth-quarter earnings presentation. The growth will happen due to drilling efficiencies even as the number of rigs remains stable, Chief Financial Officer Al Swanson said.
News
February 06, 2024
The purchase increases Vital Energy’s working interest in 54 producing, low-decline wells in the Permian basin by an average of 67%, increasing the company’s estimated 2024 production by approximately 1,850 boed (51% oil) and estimated 2024 Free Cash Flow by approximately $25 million.
News
February 05, 2024
Overall, Permian Resources’ portfolio optimization efforts added approximately 17,000 Permian net acres, 7,300 Permian net royalty acres and over 200 high-quality, gross operated locations in the core of the Delaware basin.
News
February 02, 2024
Chevron is targeting 10% growth this year, more than twice the pace of publicly traded independent oil companies, setting it on course to pump 1 MMbpd from the region in 2025. Exxon sees production growth of nearly 7%, but is expected to double its overall output once it completes the $60 billion of Pioneer Natural Resources Co. by mid-year.
News
January 23, 2024
Among unconventional oil resource plays in the U.S., the Permian stands well atop the heap for remaining resource, offering both the most high-quality remaining drilling opportunities and the greatest potential for resource expansion from the prolific region’s stacked resource benches.
News
January 20, 2024
Production across the U.S. was curtailed by about 10 MMbbl this week, according to market participants who asked not to be named because the information is private.
News
January 08, 2024
Most of shale’s private operators in the Permian basin are planning modest growth this year as one of the main engines of U.S. oil expansion downshifts amid volatile commodity prices.
News
January 04, 2024
Callon’s assets provide additional scale to APA’s operations across the Permian basin, most notably in the Delaware basin, where Callon has nearly 120,000 acres. On a pro forma basis, total company production exceeds 500,000 boed and enterprise value increases to more than $21 billion.
News
January 03, 2024
The deal, which was announced Oct. 2023, adds over 40,000 new-acres in the Permian’s Midland basin, production levels of approximately 62 MMboed, of which 50% is oil, and roughly 400 development locations in the Spraberry and Wolfcamp formations.
News
December 31, 2023
The purchase will increase Vital Energy’s working interest in 45 wells by an average of 24%, increasing the company’s estimated 2024 production by approximately 1,400 boed (57% oil).
News
December 15, 2023
Permian Basin operator Callon Petroleum Co. is considering strategic options amid takeover interest from rival oil and gas players, people familiar with the matter said, as dealmaking accelerates in the U.S. energy industry.
News
December 12, 2023
Future development is underpinned by some of North America’s top operators, with the combined ExxonMobil and Pioneer Natural Resources expected to move into Freehold’s top five payors and represent greater than 25% of future gross locations within the company’s U.S inventory. Additional payors include other large well capitalized producers such as Marathon Oil, Endeavor Energy Resources LP and Diamondback Energy.
News
December 12, 2023
Occidental Petroleum Corp.’s $10.8 billion takeover of CrownRock LP equates to more $50,000 per acre for rights to drill some of the richest oil deposits in the hemisphere, according to data-analysis and research firm Enverus Inc.
News
December 11, 2023
Occidental Petroleum Corp. has agreed to acquire Texas shale driller CrownRock LP in a cash-and-stock deal valued at about $12.0 billion, including the assumption of $1.2 billion in debt, as consolidation heats up in North America’s most-prolific oil basin.
News
December 08, 2023
Endeavor Energy, the largest closely-held oil and gas company in the Permian basin, is exploring a sale that could value it between $25 billion and $30 billion, according to Reuters.
News
December 07, 2023
Chevron Corp. followed competitor Exxon Mobil Corp. in raising planned capital spending as the biggest U.S. oil operators seek to increase long-term crude production.
News
December 06, 2023
Exxon also plans to spend $23 billion to $25 billion on capital projects next year as it expands its footprint in the Permian basin, North America’s most-prolific oil field, and pursues untapped reserves in overseas regions such as Guyana.
News
December 05, 2023
This transaction forms a comprehensive cementing business to better serve Permian oil and gas operators and is complementary to ProPetro’s industry-leading hydraulic fracturing and wireline completions businesses.
News
November 26, 2023
The combined average expected 2024 production from the properties in the Northern Delaware and Appalachian basins is anticipated to reach roughly 6,500 boed.
News
November 19, 2023
Drillers in the U.S. shale patch are again trying to rebound from slumping activity, this time expanding the oil rig count by the widest margin in nine months.
