Midland

SM Energy Growing Midland Basin Holdings in $1.6B Deal

SM Energy Growing Midland Basin Holdings in $1.6B Deal

Denver-based SM Energy Co. is expanding its footprint in the Midland Basin through the acquisition of 35,700 net acres in Howard and Martin counties in Texas. After closing, SM Energy will hold about 82,450 net acres in the sub-basin of the Permian.

October 18, 2016
Riding Permian, Diamondback Raising Rigs, Production Guidance, with 2017 Output Even Stronger

Riding Permian, Diamondback Raising Rigs, Production Guidance, with 2017 Output Even Stronger

Diamondback Energy Inc. has boosted its 2016 production for the second time since July and now expects 2017 output to be up by double-digits, the Permian Basin pure-play said Monday.

October 10, 2016

Brief — Sunoco Logistics

Sunoco Logistics Partners LP has struck a $760 million deal to acquire Vitol Group’s Permian Basin crude oil system in West Texas that is set to close by the end of the year. The transaction includes a 2 million bbl crude oil terminal in Midland and an oil gathering and mainline pipeline system in the Midland sub-basin, which includes an acreage dedication from a Permian producer. Also included are Vitol’s oil purchasing and marketing business in West Texas. The acquisition also would provide Sunoco Logistics 100% of SunVit Pipeline LLC, a 50-50 joint venture with Vitol that connects the Midland terminal to the partnership’s Permian Express 2 pipeline. In connection with the acquisition, Energy Transfer Partners LP and Energy Transfer Equity LP, owners of the partnership’s general partner Sunoco Partners LLC, agreed to reduce incentive distributions by $60 million over a two-year period. The financial assistance “provides us with expected accretive economics for this strategic acquisition,” Sunoco Logistics CEO Michael J. Hennigan said.

September 27, 2016
Callon Plunks Down $327M to Build Permian Midland Position

Callon Plunks Down $327M to Build Permian Midland Position

Callon Petroleum Co. late Tuesday struck a $327 million deal to acquire more land in the red-hot Permian Basin, which has overtaken every onshore area for merger activity to date.

September 7, 2016
Oil/Gas Industry Focusing on North America’s Hottest Shale Play: the Permian

Oil/Gas Industry Focusing on North America’s Hottest Shale Play: the Permian

The “great land grab,” a hallmark of the early onshore unconventional renaissance, is making a big-time comeback in the Permian Basin, even with commodity prices still low.

August 29, 2016
Happy Days Here Again for Onshore? Almost, Says Raymond James

Happy Days Here Again for Onshore? Almost, Says Raymond James

The outlook for onshore U.S. exploration companies is becoming “incrementally positive” for 2017 and beyond, as supply/demand fundamentals correct and commodity prices begin to move higher, analysts with Raymond James & Associates Inc. are predicting.

August 22, 2016
Concho’s $1.6B Deal in Permian Boosts Midland Position

Concho’s $1.6B Deal in Permian Boosts Midland Position

Permian Basin pure-play Concho Resources Inc. agreed Monday to pay $1.625 billion in cash and stock to Reliance Energy for 40,000 net acres in the Midland sub-basin.

August 16, 2016

Parsley Raises Production Guidance Again as Oil Production Soars 82%

After bolting on more than 30,000 net acres in the second quarter, Permian pure-play operator Parsley Energy Inc. saw oil production surge more than 80% and the company raised its full-year production guidance for the second time this year.

August 8, 2016

SM Energy Buys in Midland Basin, Raises Spending

SM Energy Co. has agreed to acquire 24,783 net acres in Howard County in West Texas, expanding its Midland Basin footprint to 46,750 net acres. The company also said it is issuing shares and notes to fund the transaction.

August 8, 2016

Permian Basin Saltwater Disposal System Expanded

Water Midstream Partners LLC has completed the southern extension to its Midland County, TX, commercial pipeline system, connecting new oil and gas wells inside and adjacent to the city of Midland to its saltwater disposal well (SWD) on SH 158, north of the Nadine and Tom Craddick Highway.

July 28, 2016