Permian Basin

Domestic crude production matched the pandemic-era peak, while demand last week declined and extended a trend early in 2023. The U.S. Energy Information Administration (EIA) said Wednesday output for the period ended Jan. 20 clocked in at 12.2 million b/d – matching the high mark of the past two years and on par with the…

Matador Resources Co. has bolted on its largest deal yet in the Permian Basin in an agreement to acquire Advance Energy Partners Holdings LLC, with assets in New Mexico and West Texas.  The independent is providing an initial cash payment of  $1.6 billion, with an additional $7.5 million total paid monthly in 2023 if the…

U.S. natural gas prices are off to a rocky start in 2023, and analysts are braced for a choppy ride ahead amid expectations for strong production levels, infrastructure constraints and forecasts for relatively mild weather during the heart of winter. Limits on American exporters’ collective ability to meet global needs add another layer of uncertainty…

Milestone Environmental Services LLC has expanded its energy waste sequestration and cleanup efforts in the northern Delaware formation of the Permian Basin, with the opening of its first New Mexico-based liquid oilfield waste facility.  “American oil and gas is critical to powering the nation and the world, and Milestone is committed to cleaning up energy…

Oneok Inc. is seeking a federal permit that would facilitate exports of Permian Basin natural gas to Mexico, the firm said Tuesday (Dec. 20). Oneok’s Saguaro Connector Pipeline subsidiary filed a Presidential Permit application with the Federal Energy Regulatory Commission “to construct and operate facilities for the exportation of natural gas at a new international…

An oil and natural gas operator-led response plan in West Texas, which targets seismicity from produced water injection wells in the Permian Basin, has been revised following a 5.4 magnitude earthquake last month. The Railroad Commission of Texas (RRC) on Tuesday implemented several revisions to the seismicity reduction response plan in the Northern Culberson-Reeves Seismic…

Oil and natural gas permitting in the Lower 48 slowed down sequentially in October, although the monthly permit count was up on both a year/year basis and when compared to pre-Covid October 2019 numbers, Evercore ISI data show. Operators filed a total of 3,308 permits last month, down 16% from September but up 25% versus…

Management for Houston-based ConocoPhillips during a quarterly earnings call highlighted the independent’s progress as it expanded its LNG activities while achieving record production. CEO Ryan Lance told investors “the world is going to need investments in medium- and long-term production in addition to U.S. shale plays.” ConocoPhillips’ portfolio is “well positioned to meet these long-term…

After posting record volumes across its gathering and processing (G&P) systems during the third quarter, Targa Resources Corp. has sanctioned two midstream projects in the Permian Basin. A second natural gas processing plant at the Wildcat facility in the Delaware sub-basin of the Permian would boost processing capacity by 275 MMcf/d. To be called Wildcat…