Denver-Julesburg Basin

Sitio Royalties Corp. and Brigham Minerals Inc. said Tuesday they have agreed to merge in a roughly $4.8 billion, all-stock transaction. The combined firm would be the largest publicly traded mineral and royalty company in the United States, according to Sitio and Brigham. The plan is to focus on industry consolidation across diverse operators and…

Trailblazer Pipeline Co. LLC (TPC) and Rockies Express Pipeline LLC (REX) are moving through the regulatory process with plans to abandon the Trailblazer system and repurpose the infrastructure for carbon dioxide (CO2) transportation.  The two Tallgrass Energy Partners-owned midstreamers in late May filed plans for the abandonment project with FERC.  The plan involves abandoning 392…

A special purpose acquisition company (SPAC) chaired by former House Speaker Paul Ryan is teaming up with Dallas-based private equity (PE) firm Grey Rock Investment Partners to form a publicly traded Lower 48 exploration and production (E&P) company. Under the proposed transaction, Grey Rock would join forces with Ryan’s Executive Network Partnering Corp. (ENPC) to…

Denver-based PDC Energy Inc. earlier this month closed on its $1.3 billion acquisition of crosstown independent Great Western Petroleum LLC and is forecasting production growth of as much as 23% by the end of June “We’re ready to start this integration,” CEO Bart Brookman told analysts during the earnings call for the first quarter. PDC…

Denver-based Civitas Resources Inc., the largest producer in the Denver-Julesburg (DJ) Basin, has already secured most planned drilling permits for 2022, the management team said recently. “We’re over 90% permitted for the year,” Civitas’ COO Matt Owens told analysts during the earnings call to discuss first quarter results. Civitas last year completed its takeover of…

Lower 48 oil and natural gas permitting activity has picked up since the beginning of the year, climbing by 9% through February from a year ago, according to Evercore ISI. There were 188 more permits issued in February month/month (m/m). However, permitting was still down by half from February 2019, on the cusp of the…

Occidental Petroleum Corp. will need to spend more capital in 2022 to maintain oil production at 2021 levels, CEO Vicki Hollub said. Hollub discussed the plans of Occidental, better known as Oxy, during a conference call to discuss fourth-quarter results. Houston-based Oxy is one of the largest U.S. oil producers, with a leading footprint in…

Chevron Corp. is piloting a project with Project Canary to independently certify some North American natural gas production in the Permian and Denver-Julesburg (DJ) basins. The pilot, using the TrustWell program, would differentiate operational and environmental performance from five well sites. The end goal is to deliver responsibly sourced gas (RSG) to market by mid-year.…

PDC Energy Inc. said Monday it agreed to buy Denver-Julesburg (DJ) Basin operator Great Western Petroleum LLC in a $1.3 billion cash-and-stock deal that would “materially” boost its holdings in Colorado’s Wattenberg field. The Denver-based PDC said the deal, which includes $500 million in net debt, would be financed by issuing about four million shares…