Permian Basin

Researchers in a peer-reviewed study conducted over three years have discovered that more methane is being emitted from Permian Basin natural gas gathering lines than previous federal estimates.  In a peer-reviewed study published by the American Chemical Society, aerial data was used to measure emissions from thousands of miles of gathering pipeline in West Texas…

Northern Oil and Gas Inc. (NOG) has agreed to acquire stakes in Permian Basin properties spanning about 2,800 acres in New Mexico and Texas from Alpha Energy Partners for $157.5 million. NOG reported that Mewbourne Oil Co. is the primary operator of the assets, which span about 2,800 acres in the Permian’s Delaware sub-basin in…

Natural gas prices at the Waha pricing point in West Texas continue to offer an attractive long-term option for offtakers, according to an analysis from the U.S. Energy Information Administration (EIA). Since late 2021, the difference “has been widening” between the natural gas price at Waha and the Henry Hub benchmark in Louisiana, researchers said.…

Devon Energy Corp., known as a sizable Lower 48 independent, is considering an LNG offtake agreement and investment stake intended to send natural gas volumes to Europe in a move management says is more about the firm’s DNA than the market of the moment. Oklahoma City-based Devon, one of the largest U.S. natural gas and…

Production of ethane, a natural gas liquid (NGL), should grow by about 9% in the United States during the second half of 2022 compared to first-half levels, according to an Energy Information Administration (EIA) forecast. “Ethane is consumed almost exclusively as a feedstock in petrochemical plants known as steam crackers to produce ethylene, a precursor…

The U.S. natural gas rig count fell one unit to 158 for the week ended Friday (Aug. 26), while a round of gains in the oil patch lifted the combined domestic drilling tally three units higher to 765, according to the latest data from oilfield services provider Baker Hughes Co. (BKR). Week/week changes domestically included…

Occidental Corp. and subsidiary 1PointFive on Thursday officially launched construction of its first large-scale direct air capture (DAC) plant, which could be sucking up carbon emissions from the Permian Basin in West Texas by late 2024. Houston-based Oxy, as it is known, had begun the first phase of front-end engineering design (FEED) at a site…

Recent Permian Basin natural gas pipeline marketing deals will reduce Callon Petroleum Corp.’s reliance on Waha Hub pricing, management of the Texas-focused independent said earlier this month. “These transactions will increase our pricing exposure to Gulf Coast gas pricing and provide additional flow assurance benefits,” CEO Joe Gatto told analysts during the second quarter earnings…

Houston-based Marathon Oil Corp. held its natural gas and oil production levels relatively steady during the second quarter, a trend it plans to continue, as it prioritizes financial stability over capitalizing on lofty commodity prices. CEO Lee Tillman told investors during a 2Q2022 conference call the exploration and production (E&P) company was focused on remaining…