Permian Basin – Page 11

Centennial Resource Development Equity Private Placements Now Total $910 Million

Centennial Resource Development: The Next Core Delaware Pure Play

October 27, 2016

Centennial Resource Development launches its new website: www.CDEVinc.com A newly formed oil and gas E&P company, Centennial Resource Development (ticker: CDEV), (www.CDEVinc.com) is the Southern Delaware’s newest player, though its executive team and board of directors are anything but new to the basin. Silver Run transaction with CDEV CDEV was christened Centennial Resource Development by Silver Run Acquisition Corp. on

Permian Drilling Continues to Push the Rig Count Higher

October 21, 2016

The U.S. added 14 more rigs to its active fleet this week The active rig count in the United States continued to climb this week as oil prices remained above $50 per barrel. The majority of the new activity came from the Permian Basin this week where capital has been flooding as operators look for the most profitable margins. Baker

The Shale Boom in the Permian Is Slowing Down - 360

RSP Permian Acquires Silver Hill Energy Partners for $2.4 Billion

October 14, 2016

RSP snags 15 MBOEPD of Permian Basin production RSP Permian (ticker: RSPP) today announced it has entered into definitive agreements to acquire Silver Hill Energy Partners, LLC (“SHEP I”) and Silver Hill E&P II, LLC (“SHEP II,” and together with SHEP I, “Silver Hill”) for $1.25 billion of cash and 31.0 million shares of RSP common stock in aggregate, implying a total purchase

WPX Energy: Its Clear Vision is Paying Off in the U.S.A.’s Hottest Oil Play

September 28, 2016

An Oil & Gas 360® Exclusive Interview with WPX Energy VP of Drilling and Completions Tom Hellman Since 2014, WPX Energy (ticker: WPX) has been neck-deep in a full speed turnaround. Its management team has completed more than $5 billion in transactions under the leadership of CEO Rick Muncrief, who joined the company after developing a reputation as one of

The Rig Count is Up, but Not in the Permian

September 9, 2016

The Permian rig count fell in a week when overall activity increased The number of rigs actively drilling in the United States Rose again in the week ended September 9, with the total rig count climbing 11 to 508, according to information released by Baker Hughes Industries (ticker: BHI). The total rig count is currently 340 rigs (40%) lower than

Does it Get any Hotter than the Permian?

August 19, 2016

On day three of EnerCom’s The Oil & Gas Conference® 21, a panel of experts talked about the Permian basin and the rapid growth in activity it has seen in the past three years. Panelists were Jeb Bachmann of Scotia Howard Weil, Will Green of Stephens Inc. and Bill Davis of Vaquero Midstream. Scott Rees, Chairman of Netherland Sewell, started things off

NGP, EnLink Form $800 Million Midstream JV in the Delaware Basin: an Oil & Gas 360® Exclusive Interview with NGP’s Tony Weber

August 4, 2016

New Lobo II expansion of EnLink’s existing Lobo System in the Delaware basin is anchored by long-term commitments from major producers; expects to be operational by year-end 2016 Subsidiaries of EnLink Midstream (ticker: ENLK) and private equity fund NGP Natural Resources XI, L.P. have formed a strategic joint venture to operate and expand EnLink’s natural gas, natural gas liquids, and

Texas’s Val Verde Basin Scores 5 Tcf of Natural Gas

July 22, 2016

New Val Verde basin assessment adds gas to Texas’s overall resources Texas added 5 trillion cubic feet of natural gas to its reserves courtesy of a new report from the U.S. Geological Survey. The U.S.G.S. said that its geology-based assessment methodology pegs the resources in place in the Val Verde Basin at 5 Tcf of tight gas and 187 MMBO of

EnerCom Conference Presenter Focus: WPX Energy

July 20, 2016

WPX Energy (ticker: WPX) will be presenting at EnerCom’s The Oil & Gas Conference® 21 in Denver on Tuesday, August 16, 2016. WPX Energy is an upstream oil and gas operator with assets in the Williston, San Juan, and Permian Basins. In the earnings call for the first quarter of 2016, the company announced its goal to start leaning into

Devon joins shale firms to cut spending as oil hovers at $30- oil and gas 360

Devon Energy Divests Interest in Midstream Assets

July 14, 2016

Devon Energy has reached a definitive agreement to divest the company’s 50% stake in Access Pipeline for $1.1 billion dollars to Wolf Midstream, a portfolio company of Canada Pension Plan Investment Board (CPPIB). The terms of the agreement also give consideration to sanctioning and development of a new thermal-oil project on Devon’s Pike lease in Alberta, Canada. “With the highly-accretive

Laredo Petroleum Bolts-On Acreage and Raises Equity

July 14, 2016

Laredo Petroleum has entered into a purchase and sale agreement for additional acreage within the company’s existing Midland Basin footprint for $125 million. The acquisition will add approximately 9,200 net acres to Laredo’s position, with roughly 6,300 acres in the Spraberry interval and 2,900 acres in the Spraberry, Wolfcamp, Canyon, and Cline zones. The acquisition secures additional rights to the

Riverstone Acquires $175 Million Majority Stake in NGP’s Centennial Resource Development

July 8, 2016

Riverstone Energy Limited (ticker: RSE) has signed an agreement alongside other funds affiliated with Riverstone Holdings, LLC to acquire a majority stake in Centennial Resource Development LLC from NGP Energy Capital and certain other related coinvestment funds. The investment by REL is expected to comprise up to US$175 million depending upon approval for the transaction by the other Riverstone affiliated funds. Closing of the transaction is expected to

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