Permian Basin

PDC Energy Inc. said this week it would budget $850-920 million next year to keep the focus on Colorado’s Wattenberg field and the Permian Basin’s Delaware sub-basin.

A binding open season through Jan. 8 is testing support for a crude oil gathering and related pipeline system to serve the Permian Basin in the northern Delaware sub-basin.

Enterprise Products Partners LP said Wednesday it intends to convert one of its natural gas liquids (NGL) pipelines in the Permian Basin to move crude oil to the Texas Gulf Coast by 2020.

Chisholm Energy Holdings LLC, a startup producer backed by private equity (PE) giant Warburg Pincus, said Thursday it has a definitive agreement in hand to acquire undeveloped acreage in New Mexico’s Permian Basin.

Chevron Corp. is ramping up its capital spending in the Permian Basin next year, while total global expenditures are set to decline for the fifth year in a row.

New Mexico’s cash register rang loudly for fiscal year (FY) 2017, signaling proceeds of $455 million from energy and mineral production on federal and Native American lands, an increase of $86.5 million from FY 2016, according to the U.S. Department of Interior.

He was a pioneer of the shale revolution and one of its most adamant proponents in the past, but now Mark Papa, former EOG Resources Inc. CEO and currently head of Centennial Resource Development Inc., says forecasts of the industry’s growth are overly optimistic.

Australian mining conglomerate BHP Billiton Ltd., one of first foreign players to build a U.S. unconventional portfolio, within two years plans to completely divest the troubled business, which no longer is considered strategic.

Oil and natural gas industry representatives in Texas and New Mexico are pushing back against separate reports by the Environmental Defense Fund (EDF) that the energy industry is wasting gas through venting and flaring unnecessarily, harming the environment and consumers.