WaterBridge Holdings LLC is continuing to build on its extensive portfolio of produced water infrastructure in the Permian Basin. Backed by private equity firm Five Point Energy, the midstream company recently completed a transaction to acquire Colgate Energy LLC assets in the Delaware sub-basin that it snagged in June from Occidental Petroleum Corp. (Oxy). Financial…
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LM Energy Gauging Support to Expand Permian Delaware Crude Gathering System
Dallas-based midstreamer LM Energy Holdings LLC through its subsidiary LM Touchdown Crude III LLC is testing support to obtain commitments to expand its crude oil gathering system in the Permian Basin of New Mexico. The binding open season to expand the system in the Delaware sub-basin was launched on Monday and concludes May 12. “Despite…
Matador Sees Strong Results in Permian Delaware with More Wells Nearing Completion
Permian Basin-focused Matador Resources Co. has seen some of the highest initial potential (IP) rates from one of four wells recently completed and turned to sales in the Stateline asset area in Eddy County, NM. The Dallas-based operator said Tuesday the test results from the Boros No. 215H well showed 24-hour IP production of 4,584…
Williston Pure-Play Northern Oil Expanding into Permian, Citing Favorable Economics Amid Downturn
Northern Oil and Gas Inc., which up to now has kept its focus on the Williston Basin, said it has acquired a working interest in Permian Basin acreage operated by EOG Resources Inc. On the deal, Northern revised higher its third quarter production guidance to 25,000-30,000 boe/d. Minnetonka, MN-based Northern said it expects production from…
NGL Energy Expands Permian Water Acreage Dedication in New Mexico
Tulsa-based NGL Energy Partners LP has signed a long-term extension and expansion of an acreage dedication with an existing customer in the Permian Basin. The agreement with an undisclosed customer is for an operating area in New Mexico’s Lea and Eddy counties within the Delaware sub-basin, NGL said. The acreage dedication through 2027 was increased…
4Q2019 Earnings: $40 Oil Enough For WPX in 2020, Management Says
WPX Energy Inc. expects to generate positive free cash flow (FCF) in 2020, even if oil prices fall to $40/bbl, CFO J. Kevin Vann said during the recent fourth quarter 2019 earnings call.
Natural Gas Flaring Remains ‘Undoubtedly’ Very High in Permian Basin, Says Rystad
The volume of waste natural gas that is flared or vented at the wellhead in the Permian Basin tripled between early 2017 and the fourth quarter of 2018 and has been range bound since then between 550 MMcf/d and 750 MMcf/d, “undoubtedly a very high volume,” according to analysts at Rystad Energy.
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4Q2019 Earnings: Noble Ties Natural Gas Growth to Leviathan, with Lower 48 Liquids Driven by DJ, Permian
Houston-based Noble Energy Inc. spent less and produced more in 2019, boosted by the ramp of the Leviathan natural gas field offshore Israel and better performance from Lower 48 properties in Colorado and Texas.
New Mexico Oil Production Likely Clips 1 Million b/d Mark
New Mexico oil production surpassed the 1 million b/d mark late last year, lifted by output from the Permian Basin’s Delaware formation, according to an analysis by Rystad Energy.
New Mexico Oil Production Likely Clips 1 Million b/d Mark
New Mexico oil production surpassed the 1 million b/d mark late last year, lifted by output from the Permian Basin’s Delaware formation, according to an analysis by Rystad Energy.