EIA’s Drilling Productivity Report (DPR) for April has now been released. The DPR takes a fresh look at oil and natural gas production, starting with an assessment of how and where drilling for hydrocarbons is taking place. It uses recent
Post Tagged with: "Permian"
Oil-trading giant Vitol eyes shale expansion with new venture
(Bloomberg) — Vitol Group, the world’s largest independent oil trader, is partnering with shale specialists who formerly led Brigham Exploration Co. to expand amid the highest crude prices in seven years.
The trader and Austin, Texas-based driller ATX …
U.S. oil producer Hannathon looks to sell Texas land – documents
Private U.S. oil and gas producer Hannathon Petroleum LLC has retained an investment bank to sell around 18,000 net acres in the Northern Midland basin of Texas, according to marketing documents seen by Reuters.
The assets could be valued …
Permian’s biggest oil producer closes 2022 hedges in bullish outlook
HOUSTON (Bloomberg) –Pioneer Natural Resources Co., the biggest oil producer in the Permian Basin, closed out almost all its hedges for this year, indicating a bullish outlook for crude prices.
The move will cost $328 million spread over …
ConocoPhillips says Shell deal lowers emissions intensity
HOUSTON (Bloomberg) –ConocoPhillips’s $9.5 billion deal to buy shale assets from Royal Dutch Shell Plc will boost the amount of carbon the company pumps into the atmosphere. Yet the company says the pact will actually allow it to …
Shell courts multiple suitors for its $10B Permian shale portfolio
(Bloomberg) –Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter …
Shell weighs blockbuster sale of Texas shale assets
LONDON/NEW YORK – Royal Dutch Shell is reviewing its holdings in the largest U.S. oil field for a potential sale, people familiar with the matter told Reuters, marking a key moment in its shift away from fossil fuels as …
U.S. shale could face weeks of depressed oil production due to cold
HOUSTON – The U.S. deep freeze will wreak havoc on oil and gas production for several days if not weeks, according to industry experts, as companies deal with frozen equipment and a lack of power to run operations.
Texas …
Trump to visit oil-rich Permian Basin to visit rig, talk energy
President Trump is expected to visit the Permian Basin in West Texas Wednesday and make a stop at the Double Eagle Energy in Midland, the White House announced.
During his visit, the president will tour an oil …
Chevron’s $5 billion deal for Noble ends deal drought, sets price benchmark
Chevron Corp’s surprise $5 billion all-stock deal for oil producer Noble Energy should spell the end of this year’s deal drought, setting a price benchmark that will trigger more buys, according to mergers and acquisition bankers, lawyers and analysts.…
Differential Price Recovery: How Regional Forces Are Bringing Benchmark Prices Back Towards Equilibrium
Oil & Gas Publishers Note: Another great industry insight article from Kevin Olson at RarePetro.
Abstract
Financial markets attempted to buoy benchmark prices as oil and gas markets became volatile in Q1 2020. This created a disconnect in the …
Oil pain spreads beyond Permian to small towns across America
The oil market turmoil sparked by Saudi Arabia and Russia is threatening U.S. jobs even in Cut Bank, Montana, and Magnolia, Arkansas — relatively obscure communities in the world of energy.
In such places, mom-and-pop outfits run so-called …
Is Depression-Era Production Regulation What OPEC Really Wants To See?
Journal of Petroleum Technology
Oil & Gas Publishers Note: Excellent piece by Steve Rassenfoss. Our host, Michael Tanner, on the 360 Digital Closing Bell reported on the Texas Railroad Commission has been invited to the next OPEC meeting. This is …
ExxonMobil outlines progress on long-term growth strategy
Woods told investors that ExxonMobil (stock ticker: XOM) is planning capital expenditures of between $30 billion to $35 billion annually through 2025, consistent with previous guidance. For 2020, the company anticipates an investment level of up to $33 billion, …
Chevron leans on Permian to Shower $80 billion on investors
Chevron Corp. plans as much as $80 billion in dividends and share buybacks over the next five years, boosting distributions by 20 percent compared with the most recent pace of payouts as the U.S. oil giant ramps up …
MultiState Producing Property Sale Package (Permian Focus)
The following information is provided by Energy Advisors Group Inc. (EAG), formerly PLS Divestment Services. All inquiries on the following listings should be directed to EAG. EnerCom Inc. is not a brokerage firm and does not endorse or …
Pioneer Natural Resources Company Reports Fourth-Quarter and Full-Year 2019 Financial and Operating Results; Provides 2020 Outlook
Pioneer Natural Resources Company (NYSE:PXD) (“Pioneer” or “the Company”) today reported financial and operating results for the quarter and year ended December 31, 2019. Pioneer reported fourth quarter net income attributable to common stockholders of $344 million, or $2.06 per …
Hunt Oil seeks latest fortune in Permian Basin
A storied oil company that got its start in East Texas is seeking its latest fortune in the Permian Basin of West Texas.
Founded in in 1934, Hunt Oil Co. drilled its first oil wells in the Piney Woods …
U.S. crude oil production efficiency continues to improve
U.S. tight oil production increased in 2017, accounting for 54% of total U.S. crude oil production, in part because of the increasing productivity of new wells. Since 2007, the average first full month of oil production from new wells …
Enterprise starts up 2 new natural gas processing plants in Texas
Houston pipeline operator Enterprise Products Partners has started operations at two new natural gas processing plants this week.
The company announced on Thursday morning that it had started its Bulldog cryogenic natural gas processing plant in the Haynesville …
Permian Basin Chapter 11 Sale
The following information is provided by Energy Advisors Group Inc. (EAG), formerly PLS Divestment Services. All inquiries on the following listings should be directed to EAG. EnerCom Inc. is not a brokerage firm and does not endorse or …
EOG Resources sells saltwater disposal wells in New Mexico
Houston oil giant EOG Resources has sold nearly half of its saltwater disposal wells in the New Mexico side of the Permian Basin.
EOG Resources confirmed the sale of 23 saltwater disposal wells and 300 miles of oilfield …
Permian drilling must pick up just to maintain current production.
In 2019, Permian production started the year at 3.8 million barrels per day, a million barrels higher than 2018.
Drilling activity in the booming Permian Basin must accelerate just in order to maintain current production volumes, according to …
Ecopetrol and Occidental complete investment agreement in the US Permian Basin
BOGOTÁ, Colombia, Nov. 13, 2019 /PRNewswire/ — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (“the Company”) informs that today it completed the joint venture transaction announced last July 31, 2019. Through this deal, the Company and Occidental Petroleum Corp (NYSE: …
Concho aims to right the ship after disastrous previous results
Midland’s Concho Resources reported a rising profit and increased oil production for the third quarter, helping to right the ship after disastrous results earlier this year.
Fairly or not, Concho was pegged as a poster child for weakening …
Enterprise’s Midland-to-ECHO oil pipeline system expansions to add 450,000 bpd each
Source: Reuters
NEW YORK (Reuters) – Enterprise Products Partners LP said on Monday it expects its Midland-to-ECHO 3 and 4 Permian crude pipeline system expansions will add about 450,000 barrels per day (bpd) each of additional capacity.
Midland-to-ECHO 4 is …
New study blames some Permian Basin earthquakes on fracking
Source: Houston Chronicle
A new study from the University of Texas at Austin is blaming hydraulic fracturing activity on some earthquakes in the Permian Basin of West Texas.
In a study released Tuesday afternoon, scientists with the TexNet Seismic Monitoring …
Parsley Energy to buy Jagged Peak for $1.65 billion in Permian merger
Source: Houston Chronicle
Austin-based Parsley Energy said it will pay $1.65 billion to acquire Denver’s Jagged Peak Energy in a combination of Permian Basin players.
The all-stock deal turns Parsley into a buyer at a time when energy analysts believed …
