Permian Basin

Apache Corp., under pressure to sell or spin off its international portfolio to focus on the U.S. onshore, on Monday said it has reorganized its global operations, with the North American businesses, including Canada, now part of two “super” Permian and Houston regional units.

More evidence that producers are turning to natural gas emerged in the latest Baker Hughes Inc. count of active drilling rigs, which covers the week ending May 29. The most recent count shows that while active oil-directed rigs in the United States declined by 13, three rigs were added on the natural gas side.

More evidence that producers are turning to natural gas emerged in the latest Baker Hughes Inc. count of active drilling rigs, which covers the week ending May 29. The most recent count shows that while active oil-directed rigs in the United States declined by 13, three rigs were added on the natural gas side.

Texas operators are turning their attention to old business — completing previously drilled wells — rather than drilling new ones, according to Railroad Commission of Texas (RRC) data.

Texas operators are turning their attention to old business — completing previously drilled wells — rather than drilling new ones…

It’s too early to say what impact heavy rains throughout Texas Tuesday and Wednesday will have on the next round of producer results; however, some operators shut in wells as at least a precaution.

It's too early to say what impact heavy rains throughout Texas Tuesday and Wednesday will have on the next round of producer results; however, some operators shut in wells as at least a precaution.

Ring Energy Inc., an independent oil and gas exploration and production (E&P) company based in Midland, TX, has agreed to purchase 14,000 net acres in the Delaware Basin, plus an undisclosed number of producing wells, in a deal valued at $75 million, the company said.

Ring Energy Inc., an independent oil and gas exploration and production (E&P) company based in Midland, TX, has agreed to purchase 14,000 net acres in the Delaware Basin, plus an undisclosed number of producing wells, in a deal valued at $75 million, the company said.