Williston Basin

The U.S. natural gas drilling count rose three units to 117 for the period ending Wednesday (Nov. 22) as the Haynesville and Marcellus shales picked up rigs, Baker Hughes Co. (BKR) data show. Oil-directed drilling was unchanged at 500 rigs in the United States for the period, while the addition of one miscellaneous unit helped…

Production continues to edge upward in North Dakota’s oil and natural gas patch, with total output growing by 3% in June versus May, according to the state’s Department of Mineral Resources (DMR). DMR’s Lynn Helms, oil and gas division director, recently hosted a press conference to discuss the June figures and the outlook for exploration…

Williston Basin pure-play Chord Energy Corp. has agreed to acquire a package of assets from ExxonMobil subsidiary XTO Energy Inc. in a cash transaction valued at $375 million. The assets span about 62,000 net acres and include “123 estimated net 10,000 foot equivalent locations,” said management of Houston-based Chord. The XTO assets currently are producing…

It’s a good time to be in the natural gas gathering and processing (G&P) business, particularly in oil-weighted basins such as the Permian, Powder River and Williston, according to Crestwood Equity Partners LP CEO Robert Phillips. Phillips hosted a conference call on Tuesday to discuss first quarter results. Through a series of mergers and acquisitions…

Devon Energy Corp. is planning to focus a majority of its capital on the Permian Basin’s Delaware sub-basin this year, management said Wednesday. Oklahoma City-based Devon, a leading Lower 48 independent, operates primarily in the Permian Delaware, Anadarko, Williston and Powder River basins, along with the Eagle Ford Shale. Devon has set a 2023 capital…

Sitio Royalties Corp. and Brigham Minerals Inc. said Tuesday they have agreed to merge in a roughly $4.8 billion, all-stock transaction. The combined firm would be the largest publicly traded mineral and royalty company in the United States, according to Sitio and Brigham. The plan is to focus on industry consolidation across diverse operators and…

Northern Oil and Gas Inc. posted record production and earnings during the second quarter, led by Permian Basin activities, as it pursues acquisitions in the Williston Basin and elsewhere. CEO Nicholas O’Grady told investors during a second quarter conference call the firm saw an across-the-board production increase during the quarter, attributed to mostly organic growth,…

Devon Energy Corp. said Thursday that it has closed on its $865 million acquisition of RimRock Oil and Gas LP’s leasehold interest and related assets in the Williston Basin. The bolt-on deal, announced last month, adds 38,000 contiguous net acres (88% working interest) to Devon’s existing Williston footprint. Oklahoma City-based Devon said it expects the…

Devon Energy Corp. has agreed to purchase RimRock Oil and Gas LP’s Williston Basin leasehold interest and related assets for $865 million.  “This bolt-on acquisition is highly complementary to our existing position and is immediately accretive,” said CEO Rick Muncrief. The deal with RimRock, a portfolio company formed in 2016 by private equity giant Warburg…