Midland

MPLX LP management said its 2024 growth outlook is anchored in the Permian Basin and Marcellus Shale, which provide steady sources of opportunities, particularly around natural gas and natural gas liquids (NGL) assets. It also sees potential in the Utica Shale. “We plan to continue growing these operations through organic projects, investment in our Permian…

Occidental Petroleum Corp. (Oxy) has agreed to acquire privately held Permian Basin oil and natural gas producer CrownRock L.P. in a deal valued at roughly $12 billion. Oxy plans to finance the acquisition by incurring $9.1 billion in new debt, issuing about $1.7 billion of common equity and assuming CrownRock’s $1.2 billion of existing debt,…

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,…

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…

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…

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…

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…

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…

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…