delaware

Despite significant production gains from each of its core areas in the Denver-Julesburg (DJ) and Permian basins, including an increasingly oilier profile, PDC Energy Inc. continued to wrestle with midstream constraints in the Wattenberg Field of northeast Colorado during the third quarter.

Bolstered by stronger commodity prices, ExxonMobil Corp. profits topped forecasts in the third quarter, and while overall production was down, Permian Basin tight oil volumes jumped 57% from a year ago.

Citing 54% oil production growth over the past 12 months, WPX Energy Inc.’s CEO on Thursday acknowledged that 3Q2018 results were “slightly short of expectations,” but predicted growth would double next year in the Permian and Williston basins.

EagleClaw Midstream, Blackstone Energy Partners funds and I Squared Capital said Friday they are throwing in to help fund more Permian Basin oil and natural gas takeaway, including the Permian Highway Pipeline (PHP), a 2 Bcf/d system that would move supplies to the Texas coast, with connections to Mexico markets.

Oryx Midstream Services said Tuesday it has successfully completed an open season for a new regional crude oil gathering and transportation system to serve the Permian Basin’s liquids-rich Delaware formation, which runs through West Texas and into southeastern New Mexico.

Permian Basin explorer Ring Energy Inc. has increased its capital spending for 2018 by nearly 25% as it builds out infrastructure in the Delaware sub-basin and Central Basin Platform (CBP) to deliver more natural gas and oil to market.

Oneok Inc. plans to spend another $295 million to expand, for the second time in less than a year, a natural gas liquids (NGL) pipeline system in West Texas to increase takeaway for Permian Basin producers working in the Delaware.

Permian Basin pure-play Centennial Resource Development Inc. expects a tsunami of natural gas within the next five months or so, which may force shut ins by any players not equipped with firm transportation (FT) agreements. It doesn’t plan to be one of them.

Houston-based Carrizo Oil & Gas Inc. has snapped up some of Devon Energy Corp.’s West Texas acreage in the Permian Basin for $215 million, even as it shifts some development south.