Permian Basin

Houston-based Apache Corp. is expanding its partnership with LongPath Technologies Inc. to build its continuous methane emissions monitoring in the Permian Basin. The APA Corp. subsidiary first partnered with LongPath last fall to use its monitoring systems at dozens of Apache drilling sites. Now, the Houston-based independent plans to employ LongPath’s monitoring systems for about…

PDC Energy Inc. said Monday it agreed to buy Denver-Julesburg (DJ) Basin operator Great Western Petroleum LLC in a $1.3 billion cash-and-stock deal that would “materially” boost its holdings in Colorado’s Wattenberg field. The Denver-based PDC said the deal, which includes $500 million in net debt, would be financed by issuing about four million shares…

Diamondback Energy Inc. is aiming to keep oil production flat in the Permian Basin this year, part of a larger trend among Lower 48 exploration and production (E&P) firms to ensure healthy shareholder returns amid a bullish price cycle. “We are at the beginning of an incredible period of value creation for the industry, and…

Owing to further growth in the Haynesville Shale and the Permian Basin, the U.S. rig count continued its upward climb during the week ended Friday (Feb. 25), adding five units to end at 650, according to the latest tally from Baker Hughes Co. (BKR). Three natural gas-directed rigs and two oil-directed rigs were added in…

Energy Transfer LP is gauging the interest of potential customers as it weighs building a natural gas pipeline from the Permian Basin to the Gulf Coast, management said Wednesday during a fourth quarter and full-year 2021 earnings call with analysts. Citing “the growing need for additional natural gas takeaway from the Permian Basin,” co-CEO Tom…

Texas’ oil and natural gas industry paid $15.8 billion in state and local taxes and state royalties in Fiscal Year (FY) 2021, with school districts and counties in the Permian Basin and Eagle Ford Shale the top beneficiaries, according to the Texas Oil and Gas Association (TXOGA). “Despite an incredibly difficult two years, the Texas…

Natural gas futures on Monday closed above $4.00 for the first time this year as European calls for U.S. exports remain robust and forecasts point to continued strong domestic weather-driven demand. The February Nymex gas futures contract settled at $4.079/MMBtu, up 16.3 cents day/day. March rose 10.8 cents to $3.834. NGI’s Spot Gas National Avg.…

Privately held explorer FireBird Energy LLC on Thursday said it bolted on 21,000 acres in the Permian Basin of West Texas in a deal with Chevron Corp. Financial details were not disclosed. The Midland sub-basin properties, 99% operated, are in Ector, Midland, Crane and Upton counties. They were acquired from Chevron U.S.A. Inc. and Chevron…

Higher-than-expected oil and natural gas production, as well as stronger prices, are giving New Mexico’s coffers a boost, the state’s Legislative Finance Committee (LFC) recently reported. The committee also anticipates Fiscal Year (FY) 2021 oil output of 408 million bbl, or 1.12 million b/d — a 10.8% year/year increase. “Global consumption and demand for oil…