Permian Basin

Matador Resources Co. nearly doubled its third quarter earnings versus the same period last year, citing improved commodity prices and operational efficiency. The Dallas-based independent operates primarily in the Permian Basin’s Delaware sub-basin, which accounted for 93% of total production in 3Q2011. Matador also operates in the Eagle Ford and Haynesville/Cotton Valley shale plays. During…

The U.S. natural gas markets are going to see big swings for at least the next year and a half, with production volumes exiting this year at about the same rate as when the year began, according to an IHS Markit expert. IHS Markit’s Jack Weixel, senior director of the Gas, Power and Energy Futures…

Matador Resources Co. expects to drill nine wells before the end of the year at its Rodney Robinson leasehold in Eddy County, NM, management said Wednesday. Dallas-based Matador said it is currently running two drilling rigs at Rodney Robinson in the western portion of the firm’s Antelope Ridge asset area in the Permian Basin’s Delaware…

Advanced technologies, such as longer lateral wells and multi-well pad drilling, are driving ongoing efficiencies and increased productivity in developing oil and natural gas resources in the prolific Permian Basin, the U.S. Energy Information Administration (EIA) said in a report Tuesday. The Permian, which spans West Texas and southeastern New Mexico, accounted for about 30%…

The monthly U.S. oil and gas permit count was nearly flat in September from August, with activity in the Eagle Ford Shale and some smaller Lower 48 plays offsetting declines in the Powder River and Permian basins, according to Evercore ISI. Each month the Evercore team compiles federal and state permitting data to note the…

Another week of expansion in the oil patch, led by the Permian Basin, lifted the U.S. rig count five units higher to 533 for the week ended Friday, according to the latest figures published by Baker Hughes Co. (BKR). Natural gas-directed drilling went unchanged for the period, while the addition of five oil-directed rigs put…

Aerial methane measurements taken during August in the Permian Basin indicate the oil and gas industry continues to have issues in controlling flaring and venting, the Environmental Defense Fund (EDF) said Thursday. The EDF’s ongoing Permian Methane Analysis Project, aka PermianMAP, is collecting methane emissions from the air, via towers and on the ground across…

Houston-based ConocoPhillips on Monday agreed to pay $9.5 billion to buy Royal Dutch Shell plc’s Permian Basin portfolio, which a Shell executive said reflected “our focus on value over volumes” as it accelerates its energy transition from fossil fuels. Shell’s Permian business includes ownership in 225,000 net acres with current production of around 175,000 boe/d.…

Increased activity in the Permian Basin and Eagle Ford Shale helped push the U.S. rig count nine units higher to 512 during the week ended Friday (Sept. 17), according to the latest data from Baker Hughes Co. (BKR). A 10-rig increase in oil-directed drilling offset a one-rig decline in natural gas-directed rigs in the United…