Permian Basin

Driven by demand from the electric power sector, the United States set new records in natural gas production, consumption and gross exports in 2019, the U.S. Energy Information Administration (EIA) reported Monday. In its Natural Gas Annual report, EIA said 2019 gas consumption increased 3%, led by a 7% increase in power sector demand that…

Houston-based Black Bear Transmission LLC said Thursday it has completed the sale of natural gas gathering assets in Oklahoma and Arkansas acquired earlier this year from Enbridge Inc.   The assets, owned by Ozark Gas Gathering LLC (OGG), were sold to an undisclosed buyer and terms were not released. OGG was acquired from Enbridge as part…

ConocoPhillips’ strategic pivot in 2016 to a value model rather than a growth model provided the Houston-based independent the financial capability to “make rational economic decisions” during the oil market downturn, including curtailing around 400,000 b/d of production. ConocoPhillips Executive Vice President and Chief Operating Officer Matt Fox said the company’s strong balance sheet, which…

A Houston-based midstreamer is looking to squeeze in another oil export project on the Texas coast between the massive Houston and Corpus Christi ports that would move Eagle Ford Shale and Permian Basin supply overseas. Max Midstream announced the ambitious plan designed around the Seahawk Pipeline and Terminal in Port Comfort in Calhoun County. The…

Permian Basin-focused Matador Resources Co. has seen some of the highest initial potential (IP) rates from one of four wells recently completed and turned to sales in the Stateline asset area in Eddy County, NM. The Dallas-based operator said Tuesday the test results from the Boros No. 215H well showed 24-hour IP production of 4,584…

Northern Oil and Gas Inc., which up to now has kept its focus on the Williston Basin, said it has acquired a working interest in Permian Basin acreage operated by EOG Resources Inc. On the deal, Northern revised higher its third quarter production guidance to 25,000-30,000 boe/d. Minnetonka, MN-based Northern said it expects production from…

The Permian Basin is the only one of the seven major producing areas of the Lower 48 forecast to see an increase in natural gas and oil output in October month/month, according to a forecast by the Energy Information Administration. In the monthly Drilling Productivity Report (DPR) issued on Monday, EIA researchers estimated that overall,…

The Permian Basin is the only one of the seven major producing areas of the United States forecast to see an increase in natural gas and oil output in October over September, the Energy Information Administration said Monday. In the monthly Drilling Productivity Report, EIA researchers estimated total oil production from the seven most prolific…

As Lower 48 operators have slashed spending and activity, the Permian Basin has taken the biggest hit to well permitting, according to an analysis of August data by Evercore ISI. Overall permit activity fell nationwide by 28% in August month/month to 1,119 permits, according to the analyst team led by James West. Most of the…