Permian Basin
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.
News
November 14, 2023
The more bullish forecast for Permian production marks a turnaround from last month’s report, which had originally shown output contracting during every month between August and November from the prolific basin.
News
October 20, 2023
The acquisition makes the Texas oil giant the dominant producer in the Permian, the world’s most important basin outside of OPEC and provides the ability to flex production to meet short-term demand, which will be crucial in the energy transition.
News
October 12, 2023
Job cuts will be “fairly minimal,” CEO Darren Woods said just hours after announcing Exxon’s biggest acquisition in more than two decades. “We’re really focused on making sure we are leveraging the capability of Pioneer and their people.”
News
October 12, 2023
The shale sector is a hotbed of consolidation talk as oil companies compete for the best drilling portfolios in the Permian basin, North America’s biggest source of crude.
News
October 11, 2023
ExxonMobil officials, including Senior V.P. Neil Chapman, held a media briefing on Wednesday morning (Oct. 11), to further articulate it's acquisition of Pioneer Natural Resources. World Oil sat in on that discussion, which included the company’s drilling plans, shale outlook and midstream operations.
News
October 11, 2023
At close, ExxonMobil’s Permian production volume would more than double to 1.3 MMboed, based on 2023 volumes, and is expected to increase to approximately 2 MMboed in 2027.
News
October 09, 2023
Ozona CCS LLC has reached a definitive agreement with a private landowner to lease 5,722.79 contiguous acres of pore space in Loving County, Texas, for the purpose of drilling multiple commercial carbon dioxide (CO2) sequestration wells in the Permian basin.
News
October 09, 2023
Civitas Resources entered into an agreement with Vencer Energy, a Vitol investment, to acquire oil-producing assets in the Midland basin of West Texas for approximately $2.1 billion.
News
October 06, 2023
The deal would be Exxon’s biggest acquisition since merging with Mobil Corp. in 1999, and would make the energy giant the top producer in the most prolific U.S. oil basin.
News
October 01, 2023
The nation’s production rose to 12.991 MMbpd, the highest since a peak of 13 MMbpd in November 2019, according to data from the Energy Information Administration. Most of the gain came from Texas, where oil drillers produced a record 5.63 MMbpd.
News
September 27, 2023
In addition to expressing concerns regarding costs, executives continued to criticize President Joe Biden for his energy policy that many see as intended to run them out of business.
News
September 26, 2023
The survey is designed to assist in the evaluation and horizontal development of multiple zones, including the emerging Barnett Shale, Mississippi Lime, and Devonian horizons, which are highly prospective with analogous play concepts having been proven just north of Pontiac in Andrews County.
News
September 25, 2023
The Permian Strategic Partnership welcomed its 25th member, Liberty Energy, a North American oil field services firm that offers suites of completion services and technologies to onshore oil and natural gas exploration and production companies.
News
September 25, 2023
Costs for drilling rigs and steel used to line the inside of oil wells have come down recently, Chief Executive Officer Rick Muncrief said during an interview on Monday.
News
September 15, 2023
Through these historic partnerships, the TTU System and UT System become the first university members of the PSP, bringing unparalleled academic resources and expertise to the coalition.
News
August 30, 2023
According to the latest report by the Permian Strategic Partnership, the Permian basin had a record year for tax revenue collected from the oil and gas industry. These funds support tax relief, road improvements, public schools and teachers, police and fire departments, community hospitals, universities, and other essential services.
News
August 29, 2023
Geologically viable but unproven inventory is at the forefront, as high-quality drilling locations become scarce over the next decade.
News
August 25, 2023
Rigs targeting both crude and natural gas in the West Texas and southeast New Mexico region declined by 7 to 320 this week, according to data released Friday by Baker Hughes Co.
News
August 23, 2023
he addition of Mewbourne Oil Company enriches the group of industry leaders leveraging their resources to improve the lives of residents in West Texas and Southeastern New Mexico.
Article
August 2023
A hybrid geophysical method enables engineers to understand the relationship between saltwater injection in the Ellenburger formation of West Texas and associated earthquake activity. The innovative combination of technologies provides operators with a reliable earthquake probability map to guide planning of injection wells and schedules to avoid environmental issues.
