Permian Basin-focused independent Earthstone Energy Inc. said Monday it would boost its footprint in the area with a $73.2 million acquisition. The company is buying the assets in the Midland sub-basin from two undisclosed sellers for a mix of stock and $49.2 million in cash. The deal is expected to close in the middle of…
Articles from Midland
Diamondback Energy Inc. is expanding its leasehold in the Permian Basin with two separate cash and stock deals valued at a combined roughly $3 billion that are seen boosting cash flow and shareholder returns. The Midland, TX-based independent agreed to acquire QEP Resources in an all-stock transaction valued at around $2.2 billion, including QEP’s net…
Updated structure and thickness maps for one of the busiest developments in the Permian Basin, the Wolfcamp within the Midland sub-basin, have been updated by the Energy Information Administration (EIA). The Wolfcamp formation, which straddles the Midland and Delaware formations, “has attracted many oil companies because of its stacked potential,” i.e. multiple hydrocarbon-producing zones that…
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.
Permian Basin pure-play Concho Resources Inc. is tightening up after agreeing to sell its New Mexico Shelf properties to recently formed Spur Energy Partners LLC for $925 million.
Medallion Pipeline Co. LLC is holding a binding open season through Aug. 16 to test support for shipping capacity from the Permian Basin on an oil pipeline owned by Epic Crude Pipeline LP.
Oilfield waste disposal firm Milestone Environmental Services has acquired a package containing three leases and four injection permits in Howard County, TX, within the Permian Basin.
A binding open season to test support for two Permian Basin oil transportation options in West Texas has been extended by a unit of Oryx Midstream Services.
Permian Basin pure-play Concho Resources Inc. bumped up its growth outlook for production in 2019, but it kept its spending plans unchanged as it completed several major projects ahead of schedule.
Permian Basin pure-play Concho Resources Inc. and Frontier Midstreams Solutions IV LLC have partnered to build a crude gathering, transportation and storage system in the northern part of the Midland sub-basin to support growth in the region.