Midland

ProPetro Eyeing More Permian E&P Demand for E-Fleets, Natural Gas-Powered Equipment

ProPetro Eyeing More Permian E&P Demand for E-Fleets, Natural Gas-Powered Equipment

The executive team for completions expert ProPetro Holding Corp., whose business is centered in the Permian Basin, remains bullish on natural gas and oil activity rising over the next several years on improved commodity prices and the continued “industrialization” of the energy sector. The Midland, TX-based oilfield services (OFS) firm provides hydraulic fracturing (fracking) services,…

November 6, 2023
Diamondback’s Viper Energy Building ‘Unparalleled Growth Runway’ with Natural Gas, Oil Royalty Acquisition

Diamondback’s Viper Energy Building ‘Unparalleled Growth Runway’ with Natural Gas, Oil Royalty Acquisition

Viper Energy Partners LP has entered a deal to substantially expand its Lower 48 mineral and royalty interest footprint through an acquisition from two private equity firms. The Diamondback Energy Inc. subsidiary agreed to acquire about 7,300 net royalty acres from Warwick Capital Partners and GRP Energy Capital for roughly 9.02 million Viper common units…

September 5, 2023
Permian Resources, Earthstone Tie-Up Creating Giant E&P Footprint in New Mexico Delaware

Permian Resources, Earthstone Tie-Up Creating Giant E&P Footprint in New Mexico Delaware

Permian Resources Corp. and Earthstone Energy, Inc. on Monday agreed to combine in a $4.5 billion transaction to create a Delaware sub-basin exploration and production (E&P) independent with 400,000-plus net acres and pro forma natural gas and oil output of 300,000 boe/d. Permian Resources was formed last year in a $7 billion merger between Centennial…

August 21, 2023
Enterprise Adds More Natural Gas Capacity in Permian with Ramp Up at 300 MMcf/d Plant

Enterprise Adds More Natural Gas Capacity in Permian with Ramp Up at 300 MMcf/d Plant

Enterprise Product Partners LP has begun service at its Poseidon cryogenic natural gas processing plant in Glasscock County in West Texas. The company’s sixth plant in the Midland sub-basin has a nameplate capacity of 300 MMcf/d and can extract more than 40,000 b/d of natural gas liquids (NGL). Enterprise now is able to process 1.3…

July 19, 2023
With Eye on Natural Gas Growth, Pinnacle Adding Second Permian Midland Processing Plant

With Eye on Natural Gas Growth, Pinnacle Adding Second Permian Midland Processing Plant

Two years after sanctioning the first natural gas processing plant at the Dos Picos facility in Midland County, TX, Pinnacle Midstream II LLC said Tuesday it is doubling capacity with a second plant. Backed in part by anchor customer Pioneer Natural Resources Co., the 220 MMcf/d facility in West Texas could begin operations by the…

July 12, 2023
Texas E&P Sector Sees Slower Job Growth as Rig Count, Natural Gas Prices Slump

Texas E&P Sector Sees Slower Job Growth as Rig Count, Natural Gas Prices Slump

Employment in the Texas upstream oil and gas industry continued to rise in April but at a slower clip than the previous month, according to the latest tally from the Texas Independent Producers and Royalty Owners Association (TIPRO). Direct employment in the exploration and production (E&P) sector totaled 199,400 for the month, up 700 jobs…

May 22, 2023
Permian’s Growing Relationship with Gulf Coast Exporters Driving Demand for Nitrogen Control, Chart Says

Permian’s Growing Relationship with Gulf Coast Exporters Driving Demand for Nitrogen Control, Chart Says

As associated gas from the Permian Basin continues to help drive a boom in LNG projects, removing the relatively high levels of nitrogen is growing into a lucrative business for Chart Industries Inc., according to company executives. Generally, liquefied natural gas facilities limit the percentage of nitrogen in the end product to 1%. While some…

May 3, 2023
Pioneer Resources Posts Robust Natural Gas Output, Sidesteps Possible Sale to ExxonMobil 

Pioneer Resources Posts Robust Natural Gas Output, Sidesteps Possible Sale to ExxonMobil 

Pioneer Natural Resources Co.’s management team on Thursday touted strong production volumes for the first quarter, boosted by natural gas output. A day after announcing his planned retirement, CEO Scott Sheffield also brushed aside questions about whether the Permian Basin powerhouse would consider a sale to ExxonMobil. Multiple media outlets earlier in April reported that…

April 27, 2023
Ovintiv Builds Permian West Texas Options, Dumps Bakken in Twin Deal with EnCap

Ovintiv Builds Permian West Texas Options, Dumps Bakken in Twin Deal with EnCap

Ovintiv Inc. signaled last month that the focus this year would be Permian Basin oil, and on Monday, the Denver independent advanced those ambitions by striking a nearly $4.3 billion cash-and stock deal to build West Texas inventory.  “Substantially all leasehold interest and related assets” were acquired from companies managed by private equity (PE) giant…

April 3, 2023
Energy Transfer Expanding Permian Oil Takeaway with Lotus Midstream Deal

Energy Transfer Expanding Permian Oil Takeaway with Lotus Midstream Deal

Energy Transfer LP is adding 3,000 miles of crude gathering and transportation traversing the Permian Basin to Oklahoma in a $1.45 billion deal for Lotus Midstream Operations LLC. The transaction with an affiliate of EnCap Flatrock Midstream (EFM), set to be completed by mid-year, would include a $900 million cash payment and 44.5 million new…

March 27, 2023
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