Post Tagged with: "new mexico"

Drilling ban proposals divide Democrats in U.S. oil states

Drilling ban proposals divide Democrats in U.S. oil states

Source: Reuters


CARLSBAD, New Mexico (Reuters) – In the southeast corner of New Mexico, new houses, hotels and jobs are sprouting like flowers in the desert. Trucks hauling equipment and laborers jam once-barren highways on the way to thousands of …

Alaska Is the Biggest Bet Yet for Texas’s Anti-Shale Oil Billionaire

Alaska Is the Biggest Bet Yet for Texas’s Anti-Shale Oil Billionaire

From Bloomberg


Hildebrand gained fortune buying old, conventional oil assets, bet may be timely as investors begin to sour on shale

Texas oilman Jeffery Hildebrand became a billionaire by shunning the shale revolution taking place in his home state. Now, …

President and CEO of Panhandle Oil and Gas Resigns

President and CEO of Panhandle Oil and Gas Resigns

By Tyler Losier, Energy Reporter, Oil & Gas 360

Paul F. Blanchard Jr. steps down as president, CEO and director of Panhandle Oil and Gas
Panhandle Oil and Gas (stock ticker: PHX), a mineral and leasehold acreage-focused capital allocator, has

U.S. Oil Sector Sets Another Record in Another Sign of Energy Independence

U.S. Oil Sector Sets Another Record in Another Sign of Energy Independence

From The Houston Chronicle


The U.S. energy sector broke another record last year as the shale boom sent natural gas and petroleum production soaring.

U.S. petroleum and natural gas production jumped by 16 percent and by 12 percent respectively in …

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

From Reuters


In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow.

School officials had expected …

U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

U.S. Oil Firms Challenge Pipeline Surcharge for Steel Tariff: Filing

From Reuters


Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff on imported steel, raising the stakes for pipeline builders facing higher construction costs.

The United States imposed tariffs on imported …

Source: QEP Resources

Anvil Capital Partners Provides Funding for Two Companies

By Tyler Losier, Energy Reporter, Oil & Gas 360

Vermilion Cliffs Partners gets $11 million senior secured loan facility
On Monday, Anvil Capital Partners, a private credit special situations lending firm, announced the final close of an $11 million senior

U.S. Shale Oil Output to Rise to Record 8.77 Million bpd in Sept – EIA

U.S. Shale Oil Output to Rise to Record 8.77 Million bpd in Sept – EIA

From Reuters


U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report …

Source: Oryx Midstream Services

Oryx Midstream Lands $550 Million from Qatar Investment Authority

By Tyler Losier, Energy Reporter, Oil & Gas 360

Qatar Investment Authority acquires significant stake in Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners
Qatar Investment Authority (QIA), the country’s sovereign wealth fund, will be acquiring a significant

Source: Salt Creek Midstream

Salt Creek Midstream Subsidiary Announces Open Season in the Delaware

By Tyler Losier, Energy Reporter, Oil & Gas 360

SCM Crude LLC to solicit binding commitments for interstate gathering and transportation
SCM Crude LLC, a wholly-owned subsidiary of Salt Creek Midstream LLC, will begin to solicit binding commitments for priority

Source: Solaris Water Midstream

Concho Resources and Solaris Water Form JV in the Delaware Basin

By Tyler Losier, Energy Reporter, Oil & Gas 360

Concho Resources and Solaris Water Midstream team up for produced water management in the northern Delaware Basin
Concho Resources (stock ticker: CXO), a Permian-focused unconventional shale producer, has formed a strategic

Northern Delaware Basin Operations 

From Concho.com

Kimmeridge Energy Joins Forces with Desert Royalty

By Tyler Losier, Energy Reporter, Oil & Gas 360

Newly-formed Desert Peak Minerals to be largest pure-play mineral royalty company in Delaware Basin
Kimmeridge Energy Management Company, a private equity firm focused on acquiring unconventional oil and gas assets, has

The Permian Oil Boom Is Showing Signs of Overheating

The Permian Oil Boom Is Showing Signs of Overheating

Shortages of sand, pipelines, and manpower could jeopardize America’s future as an energy superpower

At 10:30 p.m. on an 85F August night in Penwell, in West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in …

Longhorn Launches Open Season for its Touchdown Crude Gathering System

Longhorn Launches Open Season for its Touchdown Crude Gathering System

Longhorn Midstream Launches Open Season for the Touchdown Crude Oil Gathering System in the Northern Delaware Basin

Historic Agreement Could Finally Open Up Overseas Markets for Western States’ Natural Gas

Historic Agreement Could Finally Open Up Overseas Markets for Western States’ Natural Gas

From the Deseret News

SALT LAKE CITY — Signers inked a historic agreement Thursday at the Governor’s Energy Summit, potentially opening up natural gas markets for Western states and the Ute Indian Tribe by looping in the Wyoming Pipeline Authority.…

Two New Mexico Counties Among Nation’s Top Oil Producers

Two New Mexico Counties Among Nation’s Top Oil Producers

From THE ASSOCIATED PRESS

HOBBS, N.M.—Two New Mexico counties remain among the top oil-producing counties in the U.S., according to new federal numbers.

Data from the U.S. Energy Information Administration shows that Lea County was the No. 2 oil-producing county …

May 20, 2019 - 5:08 pm Closing Bell Story‎, Energy News
A Look at U.S.A.’s Energy States: Which Are the Best and Worst for Business?

A Look at U.S.A.’s Energy States: Which Are the Best and Worst for Business?

CEOs rank Texas at the top, California at the bottom

Chief Executive magazine has published its newest list of the best and worst states for business. Texas ranked Number One—again. California is Number 50—again.

In the executive summary of

May 16, 2019 - 1:09 pm Closing Bell Story‎, Economy, Jobs
New Mexico Captures Lion’s Share of Oil, Gas Revenue

New Mexico Captures Lion’s Share of Oil, Gas Revenue

From the Ruidoso News

New Mexico captures a greater share in oil and gas revenue than eight other western oil and gas-producing states in a comparative analysis compiled by the New Mexico Tax Research Institute and Moss Adams released Thursday.…

January 31, 2019 - 2:23 pm Closing Bell Story‎, Energy News
DJR Energy Closes Deal with Encana

DJR Energy Closes Deal with Encana

Makes DJR the largest acreage holder in San Juan Basin core oil window
 

Yesterday, privately held Denver-based DJR Energy closed on its acquisition of Encana Corporation’s (stock ticker: ECA) non-core San Juan Basin assets in northern New Mexico.

Source: DJR

December 28, 2018 - 2:02 pm Closing Bell Story‎, Exploration and Production (E&P)
EOG on a Roll: 9500 Locations, 40 Rigs, 20 Frac Spreads, 720 Planned Completions for 2018

EOG on a Roll: 9500 Locations, 40 Rigs, 20 Frac Spreads, 720 Planned Completions for 2018

EOG Resources (ticker: EOG) reported its Q3 results Thursday, and held its earning call today.

Highlights from the Q3 Results include:

  • Raised 2018 Capex Guidance Range to $5.8-$6.0 billion.
  • Third quarter 2018 net income of $1.2 billion, or $2.05 per
U.S. Becomes World Energy Leader, Surpassing 11 Million Barrels of Oil per Day

U.S. Becomes World Energy Leader, Surpassing 11 Million Barrels of Oil per Day

The rapid growth of oil production from shale combined with returning GOM production have succeeded in making the United States the leading crude oil producer in the world.

The U.S. set a new record for daily oil production at 11.3

November 1, 2018 - 2:05 pm Closing Bell Story‎, Industry Insights, International
Lilis Converts 2nd Lien Term Loan to Equity

Lilis Converts 2nd Lien Term Loan to Equity

Houston-based Lilis Energy (ticker: LLEX), an independent oil and gas E&P company in the Delaware Basin (west Texas and southwestern New Mexico), announced yesterday it closed a new five-year senior credit revolving loan facility.

The maximum borrowing amount is $500

NGL Energy Partners Adds Water Sources for Oil & Gas Operators in the Permian

NGL Energy Partners Adds Water Sources for Oil & Gas Operators in the Permian

Price for New Mexican water: $93 million

NGL Energy Partners LP (ticker: NGL) has purchased another Permian Basin ranch, adding 9.6 million barrels of annual fresh water rights to its Permian Basin water portfolio.

NGL said it bought the 36,000-acre …

Rule Change Would Double Well Density in San Juan Basin for Hilcorp

Rule Change Would Double Well Density in San Juan Basin for Hilcorp

From the Associated Press/US News

ALBUQUERQUE, N.M. (AP) — A Houston-based oil and gas company wants New Mexico regulators to ease restrictions on well locations in two counties within one of the oldest producing basins in the U.S., saying …

Electricity Demand Surges with Oil Patch Boom

Electricity Demand Surges with Oil Patch Boom

From Albuquerque Journal

The oil and gas boom in southeastern New Mexico and West Texas is pushing electricity demand on Xcel Energy’s grid to all-time records.

The regional transmission network delivered 6.15 gigawatts of electricity to customers on July 19, …

July 31, 2018 - 5:51 pm Closing Bell Story‎, Energy News
Activists Harass New Mexico County Commissioners for Voting Down Proposed Frac Rules

Activists Harass New Mexico County Commissioners for Voting Down Proposed Frac Rules

Activists call commissioners ‘baby killers’ as local control of oil and gas brings indigestion to Sandoval County Commission meetings

Commissioners are stuck in between an animated anti-oil and gas movement and concerns about their county’s economic well-being 

From the Daily

July 10, 2018 - 1:14 pm Closing Bell Story‎, Fracing, Regulatory
What’s Worth More to the State of Texas—Land or Oil?

Junior Canadian Texas and New Mexico Producer Goes Public

Permex Petroleum Corporation (ticker: OIL) has completed its initial public offering of 8,135,500 common shares at a price of $0.50 per share for proceeds of $4,067,750.

The shares were listed on the Canadian Securities Exchange (CSE) on May 15, 2018 …

OXY’s New Mexico Permian Wells Coming in with IP-30s of 3,100 BOEPD

OXY’s New Mexico Permian Wells Coming in with IP-30s of 3,100 BOEPD

Occidental Petroleum Corporation (ticker: OXY) reported a core income of $708 million for the first quarter of 2018, or $0.92 per diluted share. Total average daily production volumes were 609,000 BOE for the first quarter of 2018, compared to 621,000 …

Cimarex Produced 206 MBOEPD in Q1, with 55% from the Permian

Cimarex Produced 206 MBOEPD in Q1, with 55% from the Permian

Cimarex running 13 rigs: 10 in the Permian, 3 Mid-Con

Cimarex Energy Co. (ticker: XEC) reported first quarter 2018 net income of $186.3 million, or $1.96 per share. Total company production for the quarter came in at the high end …

Delaware Basin Makes New Mexico the U.S.’s No. 3 Oil Producer

Delaware Basin Makes New Mexico the U.S.’s No. 3 Oil Producer

New Mexico is the nation’s third-largest oil producing state, thanks to the Delaware Basin: EIA

From the Albuquerque Journal

Battle Axe Road cuts smack through the heart of New Mexico’s side of the Delaware Basin, a previously marginal zone along …