Permian Basin

Piñon Midstream Building 85 MMcf/d Sour Gas Treatment, Carbon Capture Facility in Permian Delaware

Piñon Midstream Building 85 MMcf/d Sour Gas Treatment, Carbon Capture Facility in Permian Delaware

Piñon Midstream LLC has begun construction of a sour gas treating and carbon capture facility in Lea County, NM, that when completed in July would have capacity to treat about 85 MMcf/d of Permian Basin natural gas. The plant, dubbed the Dark Horse Facility, would treat gas produced in the Permian’s Delaware sub-basin. The project…

May 3, 2021
Ovintiv Moves to Streamline Costs, Debt by Focusing on Anadarko, Montney and Permian

Ovintiv Moves to Streamline Costs, Debt by Focusing on Anadarko, Montney and Permian

Denver-based Ovintiv Inc. streamlined the business during 1Q2021 to focus only on the Anadarko, Montney and Permian basins as it eyes slashing debt to appease restless investors. With long-held but neglected shale properties in Canada’s Duvernay and the South Texas Eagle Ford sold off, the independent has accelerated a $4.5 billion total debt target timeline…

May 3, 2021
Vitol Acquiring Hunt Oil Permian Assets, Citing Bright Future for Lower 48

Vitol Acquiring Hunt Oil Permian Assets, Citing Bright Future for Lower 48

Vencer Energy LLC, the upstream subsidiary of global commodities trading giant Vitol, said Friday it has agreed to acquire Hunt Oil Co.’s assets in the Permian Midland Basin for an undisclosed sum. The assets comprise 44,000 acres across five counties with current daily production of about 40,000 boe/d, said Geneva, Switzerland-based Vitol. The acquisition “realizes…

April 30, 2021
U.S. Rig Count Inches Higher on Gains in Natural Gas Activity

U.S. Rig Count Inches Higher on Gains in Natural Gas Activity

Buoyed by growth in the natural gas patch, the U.S. rig count inched higher during the week ended Friday (April 30), adding two units to reach 440, according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Two natural gas-directed rigs were added in the United States during the week, along with…

April 30, 2021
New Permian Oil, Gas Drilling Permits OK’d in March Surpass Year-Ago Total

New Permian Oil, Gas Drilling Permits OK’d in March Surpass Year-Ago Total

Texas operators applied for more oil and gas drilling permits during March than a year earlier, with the Permian Basin still the go-to place for activity, according to state regulators.  The Railroad Commission of Texas (RRC) said it issued 798 original drilling permits last month, versus 744 in March 2020.  Last month, the RRC issued…

April 13, 2021
Permian-Focused Solaris Issues ‘Landmark’ Sustainability Bonds for Produced Water Infrastructure

Permian-Focused Solaris Issues ‘Landmark’ Sustainability Bonds for Produced Water Infrastructure

Permian Basin-focused Solaris Midstream Holdings Inc. said it has completed offering $400 million in senior unsecured notes for the first sustainability linked bond (SLB) in the produced water infrastructure industry. The Houston-based operator, parent company to Solaris Water Midstream LLC, said the notes were a “landmark issuance.” SLBs, which are used for general corporate purposes,…

April 5, 2021
Pioneer Natural Building Permian Midland Stronghold with $6.4B DoublePoint Deal

Pioneer Natural Building Permian Midland Stronghold with $6.4B DoublePoint Deal

Dallas-based Pioneer Natural Resources Co., whose focus has long been in the Permian Basin Midland, is plunking down $6.4 billion to build its base with the takeover of West Texas competitor DoublePoint Energy LLC.  The deal, a cash-and-stock split, would add 97,000 net contiguous acres directly offsetting and overlapping Pioneer’s existing footprint. The mostly undrilled…

April 5, 2021
Permian Methane Intensity Said Falling as Oil, Natural Gas Industry Paves Road to Net Zero

Permian Methane Intensity Said Falling as Oil, Natural Gas Industry Paves Road to Net Zero

As the oil and natural industry pivots toward producing cleaner energy and controlling emissions, an analysis by a Texas association of independent producers and royalty owners found that methane intensity in the Permian Basin has declined from 2011-2019 even as production surged to record levels. Conducted by Texans for Natural Gas, a project of the…

March 22, 2021
ConocoPhillips, Pioneer Natural CEOs Preach Discipline as Permian Activity Rebounds

ConocoPhillips, Pioneer Natural CEOs Preach Discipline as Permian Activity Rebounds

Lower 48 exploration and production (E&P) firms must resist the urge to dramatically ramp up production as oil prices and demand recover, according to the CEOs of two U.S. heavyweights, ConocoPhillips and Pioneer Natural Resources Co.  “I hope there is discipline in the system,” ConocoPhillips CEO Ryan Lance said Tuesday during a webcast panel at…

March 5, 2021
Oxy, Partners Take Another Step to Advance Permian Carbon Capture Project

Oxy, Partners Take Another Step to Advance Permian Carbon Capture Project

Occidental Petroleum Corp.’s vision to yank carbon emissions from the atmosphere in its top development, the Permian Basin, took a giant step forward Tuesday with the first engineering phase given the green light. Australia’s Worley Ltd. was awarded the front-end engineering and design (FEED) for the first of four phases of the direct air capture…

February 26, 2021
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