Powder River Basin

Chesapeake Builds Natural Gas-Rich Marcellus Portfolio with Chief, Tug Hill Purchase

Chesapeake Builds Natural Gas-Rich Marcellus Portfolio with Chief, Tug Hill Purchase

Chesapeake Energy Corp. on Tuesday snapped up a batch of natural gas-rich Marcellus Shale assets with a $2 billion-plus takeover of Chief E&D Holdings LP and affiliates of Tug Hill Inc. According to the Oklahoma City-based independent, pro forma natural production capacity could increase by up to 200 MMcf/d. The transaction, set for completion by…

January 25, 2022
Devon Holding Lower 48 Natural Gas, Oil Production Flat into 2022

Devon Holding Lower 48 Natural Gas, Oil Production Flat into 2022

Global oil and natural gas demand is forecast to remain tight in the months ahead, but Devon Energy Corp. is holding the line on its Lower 48 production and instead rewarding shareholders. The Oklahoma City-based independent, whose portfolio is concentrated in some of the richest oil and natural gas basins of the country, plans to…

November 11, 2021
Texas Oil, Gas Permitting Continues Recovering and California Requests Rising

Texas Oil, Gas Permitting Continues Recovering and California Requests Rising

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…

October 18, 2021
Vermilion Progresses in PRB’s Oil Patch and Sees Sharp Commodity Price Gains

Vermilion Progresses in PRB’s Oil Patch and Sees Sharp Commodity Price Gains

Calgary-based Vermilion Energy Inc., which operates in eight countries on three continents, said it was lifted by sharp commodity price increases in the first six months of the year as the world began to recover from the Covid-19 pandemic. Vermilion operates in Canada as well as the Powder River Basin (PRB) of Wyoming. It also…

August 19, 2021
E&P Permit Requests Said Focused in Permian, Powder River and Eagle Ford

E&P Permit Requests Said Focused in Permian, Powder River and Eagle Ford

U.S. drilling permit activity climbed sharply in July, led by the Eagle Ford Shale, Powder River and Permian basins, but the overall numbers are still short from the pre-pandemic days of July 2019, according to Evercore ISI. The energy analyst team led by James West uses federal and state data to compile a monthly review…

August 16, 2021
Ranger Further Expands Wireline Footprint with PerfX Acquisition

Ranger Further Expands Wireline Footprint with PerfX Acquisition

Ranger Energy Services Inc. has further boosted its wireline presence in the Lower 48 following the acquisition of PerfX Wireline Services, its second takeover since May.  The Houston-based oilfield services company said last week it had acquired Minot, ND-based  PerfX in an all-stock deal. The deal follows the acquisition of Patriot Completions Solutions LLC in…

July 12, 2021
Contango Snags Rockies, Permian ‘Low-Decline’ Oil, NGL Assets

Contango Snags Rockies, Permian ‘Low-Decline’ Oil, NGL Assets

Contango Oil & Gas Co. is set to expand its footprint in the Big Horn, Permian and Powder River basins after agreeing to purchase bank-owned liquidated assets for $58 million. Under the purchase and sale agreement announced Monday, the Fort Worth, TX-based independent is to acquire around 7,500 boe/d of production, 18.3 million boe of…

December 1, 2020
Oxy Takes $1.3B for Western Properties, Propels Permian Carbon Capture Project Forward

Oxy Takes $1.3B for Western Properties, Propels Permian Carbon Capture Project Forward

Occidental Petroleum Corp. on Wednesday padded its bottom line with a big deal to sell a bundle of western properties, while boosting another venture to develop a massive carbon capture facility in its No. 1 Lower 48 play, the Permian Basin. The Houston-based independent, better known as Oxy, agreed to sell some Colorado, Utah and…

August 20, 2020
Crestwood Plans for Future Without DAPL, Expects Shut-In Volumes to Fully Return in 4Q

Crestwood Plans for Future Without DAPL, Expects Shut-In Volumes to Fully Return in 4Q

Crestwood Equity Partners LP is taking a three-pronged approach to ensuring its Bakken Shale customers are able to move their crude oil volumes to market in the event that the Dakota Access Pipeline (DAPL) shuts down, either temporarily or permanently. On the second quarter earnings call held Tuesday, CEO Bob Phillips said the commercial and…

August 5, 2020
Finally Toppled by Debt, Chesapeake in Bankruptcy

Finally Toppled by Debt, Chesapeake in Bankruptcy

Chesapeake Energy Corp., once a symbol of the American natural gas industry’s revival and a disruptive leader that helped spark the nation’s unconventional boom, filed for Chapter 11 protection on Sunday to wipe out $7 billion of debt.  The move follows months of speculation and years of cost-cutting initiatives at the Oklahoma City-based independent, which…

June 29, 2020
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