Permian Basin

DUC Drawdown Continuation to Bump U.S. Onshore Natural Gas, Oil Production Next Month

DUC Drawdown Continuation to Bump U.S. Onshore Natural Gas, Oil Production Next Month

U.S. onshore oil and natural gas production is set to rise from October to November, propelled by supply growth in the Permian Basin and Haynesville Shale, according to updated projections Monday from the U.S. Energy Information Administration (EIA). Natural gas production from seven key U.S. producing regions — the Anadarko, Appalachia and Permian basins, along…

October 20, 2021
Tech Innovations Boost Permian Oil and Natural Gas Productivity, EIA Says

Tech Innovations Boost Permian Oil and Natural Gas Productivity, EIA Says

Advanced technologies, such as longer lateral wells and multi-well pad drilling, are driving ongoing efficiencies and increased productivity in developing oil and natural gas resources in the prolific Permian Basin, the U.S. Energy Information Administration (EIA) said in a report Tuesday. The Permian, which spans West Texas and southeastern New Mexico, accounted for about 30%…

October 19, 2021
Piñon Midstream’s Dark Horse Galloping in Permian Delaware to Treat Sour Gas

Piñon Midstream’s Dark Horse Galloping in Permian Delaware to Treat Sour Gas

Houston-based Piñon Midstream LLC has placed into service some Permian Basin infrastructure in New Mexico that includes the Dark Horse sour natural gas treating and carbon capture facility, which is already near initial capacity of 85 MMcf/d. The project within the Delaware sub-basin in Lea County was built to capture and permanently sequester carbon dioxide…

October 13, 2021
Apache Puts Kibosh on Routine Flaring in U.S. Onshore Ahead of Schedule

Apache Puts Kibosh on Routine Flaring in U.S. Onshore Ahead of Schedule

Houston-based Apache Corp., one of the biggest natural gas producers in the Permian Basin, has ended routine flaring across its Lower 48 operations three months ahead of schedule. The independent had set a goal to end flaring in U.S. onshore by year’s end as part of its environmental, social and governance (ESG) initiatives.  “In early…

October 12, 2021
ConocoPhillips’ Takeover of Shell’s Permian Stakes Leads 3Q Dealmaking, Says Enverus

ConocoPhillips’ Takeover of Shell’s Permian Stakes Leads 3Q Dealmaking, Says Enverus

U.S. upstream dealmaking during 3Q2021 slid from the record-setting sequential activity, but the overall values transacted still topped the five-year quarterly average, according to Enverus. Merger and acquisition (M&A) activity during 3Q2021 by U.S. exploration and production (E&P) companies was down 44% from 2Q2021.  However, the $18.5 billion transacted overall was above the quarterly five-year…

October 12, 2021
Permian Activity Rises as U.S. Oil Patch Expands Further

Permian Activity Rises as U.S. Oil Patch Expands Further

Another week of expansion in the oil patch, led by the Permian Basin, lifted the U.S. rig count five units higher to 533 for the week ended Friday, according to the latest figures published by Baker Hughes Co. (BKR). Natural gas-directed drilling went unchanged for the period, while the addition of five oil-directed rigs put…

October 8, 2021
PDC Trimming Oil Production Guidance on Well Spacing Issues in Permian

PDC Trimming Oil Production Guidance on Well Spacing Issues in Permian

PDC Energy Inc. has revised down its full-year 2021 oil production guidance, citing “tighter than optimal well spacing” in its Permian Basin leasehold. Oil production is now expected to average 60,000-63,000 b/d, versus previous guidance of 64,000-66,000 b/d, the Denver-based independent said in a recent update. PDC operates primarily in the Wattenberg field in Colorado’s…

October 6, 2021
Chisholm to Monitor Permian Delaware Emissions as Project Canary Snags Another E&P Client

Chisholm to Monitor Permian Delaware Emissions as Project Canary Snags Another E&P Client

Privately held Chisholm Energy Holdings LLC plans to install air emissions monitors at some Permian Basin production facilities in southeastern New Mexico as it works toward becoming certified by Project Canary. Sponsored by Warburg Pincus and Ontario Teachers’ Pension Plan, the Permian exploration and production (E&P) company expects to become the first independent working in…

October 4, 2021
Permian Oil, Natural Gas Essential through Global Energy Transition, Says ConocoPhillips CEO

Permian Oil, Natural Gas Essential through Global Energy Transition, Says ConocoPhillips CEO

The decision to plunk down $9.5 billion to purchase Royal Dutch Shell plc’s Permian Basin assets is going to give ConocoPhillips a bountiful and low-cost supply that will be necessary as the world evolves toward a low-carbon future, CEO Ryan Lance said.  The mega deal announced late Monday is for Shell’s West Texas portfolio within…

September 23, 2021
Lagoon Water Midstream Expands into Permian with Double Drop Acquisition

Lagoon Water Midstream Expands into Permian with Double Drop Acquisition

Lagoon Water Midstream on Tuesday said it has closed the acquisition of Midland, TX-based Double Drop Resources, a Permian Basin-focused water management company. The acquisition “significantly expands Lagoon’s operations and establishes it as a multi-basin water management company with a presence in the heart of the Permian,” according to Lagoon, which is backed by Macquarie…

September 22, 2021
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