Permian Basin

Desert Peak, Falcon to Combine Lower 48 Stakes, with Focus on Permian

Desert Peak, Falcon to Combine Lower 48 Stakes, with Focus on Permian

Lower 48 minerals and royalty rights producers Desert Peak Minerals and Falcon Minerals Corp. have agreed to combine in an all-stock transaction with holdings concentrated in the Permian Basin and targets in the Austin Chalk, Eagle Ford and Marcellus shales. The merger, with an enterprise value of $1.9 billion, estimates combined production by mid-year would…

January 18, 2022
Lower 48 to Grow Oil, Natural Gas Output in February; DUCs Draw Down in Late 2021

Lower 48 to Grow Oil, Natural Gas Output in February; DUCs Draw Down in Late 2021

U.S. onshore plays are set to increase both natural gas and oil output from January to February, with the gains set to follow a further drawdown in drilled but uncompleted (DUC) wells to close out 2021, according to updated modeling from the Energy Information Administration (EIA). Natural gas production from seven key U.S. producing regions…

January 18, 2022
U.S. Upstream Dealmaking Fueled by Permian, Haynesville

U.S. Upstream Dealmaking Fueled by Permian, Haynesville

The Permian Basin and natural gas-rich Haynesville Shale accounted for nearly all of the upstream transactions in the final three months of 2021, but dealmaking overall was down sharply from the third quarter, Enverus reported. The value of Lower 48 merger and acquisition (M&A) activity between exploration and production (E&P) companies totaled $9 billion in…

January 14, 2022
Permian, Eagle Ford Counties and School Districts Top Texas Property Tax Receipt Rankings

Permian, Eagle Ford Counties and School Districts Top Texas Property Tax Receipt Rankings

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…

January 14, 2022
U.S. OFS Employment Swings Back to Growth Mode

U.S. OFS Employment Swings Back to Growth Mode

The U.S. oilfield services (OFS) and equipment sector added an estimated 7,450 jobs in December, according to the Houston-based Energy Workforce & Technology Council. “As oil demand has pushed higher, it’s heartening to see continued job growth in the sector,” said Council CEO, Leslie Buyer. “The sector has recovered more than half of the jobs…

January 13, 2022
Lucid Advancing CCS Project for Permian Delaware Natural Gas Processing Complex

Lucid Advancing CCS Project for Permian Delaware Natural Gas Processing Complex

Permian Basin natural gas processor Lucid Energy Group has been given the green light to advance a carbon sequestration project at its Red Hills Complex in Lea County, NM. Lucid, sponsored by entities of Riverstone Holdings LLC and Goldman Sachs Asset Management, said the Environmental Protection Agency approved its monitoring, reporting and verification (MRV) plan…

January 11, 2022
Enterprise Buys Natural Gas-Heavy Navitas as Entry Point in ‘Attractive’ Permian Midland

Enterprise Buys Natural Gas-Heavy Navitas as Entry Point in ‘Attractive’ Permian Midland

Houston’s Enterprise Products Partners LP has agreed to acquire Navitas Midstream Partners LLC for $3.25 billion, giving the giant partnership an entry point in the Permian Basin of West Texas and an additional 1 Bcf/d of natural gas processing capacity. The agreement to acquire Navitas, headquartered north of Houston in The Woodlands, could be completed…

January 11, 2022
Enterprise Opens Door to Permian Midland with $3.25B Navitas Takeover

Enterprise Opens Door to Permian Midland with $3.25B Navitas Takeover

Houston’s Enterprise Products Partners LP has agreed to acquire Navitas Midstream Partners LLC for $3.25 billion, giving the giant partnership an entry point in the Permian Basin of West Texas and an additional 1 Bcf/d of natural gas processing capacity. The agreement to acquire Navitas, headquartered north of Houston in The Woodlands, could be completed…

January 10, 2022
Lower 48 E&Ps Treating Less Water as Disposal Permits Drying Up, Quake Activity Rising

Lower 48 E&Ps Treating Less Water as Disposal Permits Drying Up, Quake Activity Rising

Exploration and production (E&P) companies, particularly in West Texas, appear to be in a bit of a conundrum. Amid an increase in seismic activity related to Lower 48 development, producers stand to lose nearly half of their disposal capacity in key basins at the same time the amount of water they are leaving untreated is…

January 10, 2022
Permian Activity Eases Lower, But U.S. Drilling Rises Overall

Permian Activity Eases Lower, But U.S. Drilling Rises Overall

Despite a downtick in the Permian Basin, the U.S. rig count inched higher during the week ended Friday (Jan. 7), picking up two units to finish at 588 overall, according to the latest tally from oilfield services provider Baker Hughes Co. (BKR). Gains of one oil-directed rig and one natural gas-directed rig saw the domestic…

January 7, 2022
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