Basin

Available Permian Packages Looking Scarce, Says Parsley CEO

The frenzied land grab in the Permian Basin may be cooling down because there don’t appear to be too many substantial leaseholds left to purchase, Parsley Energy Inc. CEO Bryan Sheffield said Friday.

February 24, 2017

SM Energy ‘Shrinking to Grow’ This Year

On Thursday, Jay Ottoson, CEO of Denver-based SM Energy Co., said that following a transformative 2016, the independent producer will “shrink to grow” this year.

February 23, 2017
So Long, DUCs; PUCs Are The Future as Drilling Pace in Permian May Not Be Sustainable

So Long, DUCs; PUCs Are The Future as Drilling Pace in Permian May Not Be Sustainable

The pace of drilling activity in the Permian Basin cannot be sustained as a lack of takeaway capacity will inevitably lead to a backlog of drilled but uncompleted (DUC) wells in the Permian Basin (PUC), some analysts say.

February 21, 2017
SM Energy Midland Basin ‘RockStar’ Well IP Rates Chart High

SM Energy Midland Basin ‘RockStar’ Well IP Rates Chart High

The Permian Basin remains red hot as SM Energy Co. on Tuesday released results of eight new Midland Basin wells in Howard County, TX, where the company will be focusing a substantial amount of its drilling effort this year.

January 31, 2017
Plains All American Buying Major Northern Delaware Crude Gathering System in Permian For $1.2B

Plains All American Buying Major Northern Delaware Crude Gathering System in Permian For $1.2B

Plains All American Pipeline LP (PAA) is paying $1.215 billion for a crude oil gathering system in the Permian Basin’s Northern Delaware sub-basin that serves “several producers” in the hot play.

January 25, 2017

Federal Court Denies PA Senators Motion to Intervene in DRBC Moratorium Case

A federal court has denied a motion filed by three Pennsylvania senators to intervene in a lawsuit challenging the Delaware River Basin Commission’s (DRBC) ban on horizontal hydraulic fracturing in the 13,539-square mile watershed.

January 6, 2017

Brief — Delaware Basin Forum

The Railroad Commission of Texas(RRC) is planning a half-day session of the Permian Basin (Spraberry Trend Area) and Delaware Basin Forum and Discussion. The forum is intended to educate oil and gas industry representatives on topics including drilling permits, completions, stacked laterals and RRC website queries. The event is scheduled from noon to 4 p.m. CST on Jan. 10 at the Green Tree Country Club, 4900 Green Tree Blvd., Midland, TX. Registration is required and free; seating is limited.

December 22, 2016
Extraction Sells 25 Million Shares, Acquires DJ Basin Acreage For $177 Million

Extraction Sells 25 Million Shares, Acquires DJ Basin Acreage For $177 Million

Extraction Oil & Gas Inc. said it has agreed to sell more than 25 million shares of its common stock in a private placement for $457 million in gross proceeds, which it will use to replenish its coffers after closing on two separate deals to acquire acreage in the Denver-Julesburg (DJ) Basin in Colorado for $177 million.

December 13, 2016
Delaware Basin Efficiencies Driving Production Growth at Concho

Delaware Basin Efficiencies Driving Production Growth at Concho

Midland, TX-based Concho Resources Inc. grew production during the third quarter as it took advantage of expanded natural gas processing capacity serving the Permian Basin’s Delaware sub-basin.

November 9, 2016
Struggling Clayton Williams Pins Hopes on Delaware Basin

Struggling Clayton Williams Pins Hopes on Delaware Basin

Clayton Williams Energy Inc. has agreed to sell “substantially all” of its assets in the Giddings Area in East Central Texas for $400 million to an undisclosed buyer as it continues a “transformation” embarked upon earlier this year. The deal will make the company a Permian Basin pure-play.

October 25, 2016