Permian Basin – Page 3 – Oil & Gas 360

Coterra announces accretive Permian Basin acquisitions

November 13, 2024

(Oil & Gas 360) – HOUSTON–(BUSINESS WIRE)– Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today announced it has entered into two separate definitive agreements to acquire certain assets of Franklin Mountain Energy and Avant Natural Resources and its affiliates for aggregate consideration of $3.95 billion, consisting of $2.95 billion of cash and $1.0 billion of Coterra common stock, issued to one

Hilcorp bags $1B Permian deal

November 12, 2024

(Oil Price) – Exxon Mobil Corp. will offload some of its conventional oil assets in the Permian Basin, selling to Hilcorp Energy for approximately $1 billion, according to industry insiders who spoke to Reuters on Tuesday. This move aligns with Exxon’s aggressive shift toward higher-margin shale plays following its recent $60 billion acquisition of Pioneer Natural Resources. Exxon expects the deal

Oil and gas CEOs call on Biden administration to stop attack on U.S. LNG at Gastech 2024

September 18, 2024

World Oil (Bloomberg) – The oil and gas industry is zeroing in on the Biden administration’s moratorium on new liquefied natural gas (LNG) export permits as the key policy they want changed under the next U.S. president. Chevron Corp. Chief Executive Officer Mike Wirth called on the administration to reverse the pause, labeling the policy as a failure that “elevates

ExxonMobil to sell conventional Permian oil assets for $1 billion amid shale production focus

August 28, 2024

World Oil (Bloomberg) – Exxon Mobil Corp. is looking to sell a package of conventional oil assets in the Permian basin as the company focuses on growing shale production after buying Pioneer Natural Resources Co. earlier this year. The package includes older wells in the Permian’s Central basin that produce small but stable amounts of oil, according to people familiar

Ovintiv explores $2 billion Uinta basin business sale to focus on Permian shale operations

August 22, 2024

World Oil (Bloomberg) – Ovintiv Inc. is considering a possible sale of its operations in the Uinta basin, which could fetch as much as $2 billion, people with knowledge of the matter said. Denver-based Ovintiv is working with an adviser to gauge buyer interest in the asset, the people said, asking not to be identified discussing confidential information. Ovintiv’s operations

Shale drilling Ovintiv increases 2024 oil and gas production target on unexpected Permian success

August 1, 2024

World Oil (Bloomberg) – Shale driller Ovintiv Inc. increased its 2024 production target, the second oil and gas company to do so this year. The company expects to pump the equivalent of 570,000 to 580,000 bbl of crude this year, compared with the previous forecast of 545,000 to 575,000, according to a statement. At the mid ranges of those targets,

“Economic powerhouse:” Permian basin contributes over $100 billion, 800,000 jobs on leading U.S. oil and gas production

July 16, 2024

World Oil (WO) — The Permian basin continues to grow rapidly, reflecting the region’s importance as an economic powerhouse for Texas, New Mexico and the country. This year’s Economic Report from the Permian Strategic Partnership (PSP) highlights the region’s essential role in supporting critical government functions such as road improvements, public schools and teachers, police and fire departments, community hospitals

Double Eagle poised for massive Permian asset sale

May 29, 2024

Oil Price Privately-held Permian basin producer Double Eagle is reportedly considering the sale of assets potentially worth more than $6.5 billion, including debt, Reuters reported on Wednesday, citing unnamed sources. Reuters’ sources said they were anticipating the official start of the sale in the second half of this year, with existing Permian operators expected to be the most likely buyers

APA Corporation sells non-core Permian, Eagle Ford assets for $700 million

May 22, 2024

World Oil (WO) – APA Corporation announced the sale of non-core producing properties by Apache Corporation in two separate transactions for over $700 million. Combined, the properties represent estimated net production in the first-quarter 2024 of 13,000 boed, of which just over one-third is oil. “These transactions are consistent with our active management of the portfolio, and we will continue

Vital Energy closes second transaction to acquire additional working interests related to recent Permian Basin acquisition

February 6, 2024

Oil and Gas 360 TULSA, OK, Feb. 05, 2024 (GLOBE NEWSWIRE) — Vital Energy, Inc. (NYSE: VTLE) (“Vital Energy” or the “Company”) today announced the second acquisition of additional working interests in producing assets associated with the recent asset acquisition from Henry Energy LP, Moriah Henry Partners LLC and Henry Resources LLC (collectively “Henry”) for total consideration of approximately $78

APA Corporation increases oil production from Permian basin with $4.5 billion Callon Petroleum acquisition

January 4, 2024

World Oil (WO) – APA Corporation and Callon Petroleum Company have entered into a definitive agreement under which APA will acquire Callon in an all-stock transaction valued at approximately $4.5 billion, inclusive of Callon’s net debt. Under the terms of the transaction, each share of Callon common stock will be exchanged for a fixed ratio of 1.0425 shares of APA

Oil production from Permian basin to expand through year’s end

November 14, 2023

World Oil (Bloomberg) – Oil production from the Permian basin will expand in November and December, marking the region’s longest run of monthly gains in two years. The world’s most productive shale patch is expected to pump a record 5.98 MMbpd in December. In total, U.S. crude production from the seven biggest shale regions will total 9.65 MMpd next month, essentially

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