Permian Basin

Forest Oil Corp. struck a $1 billion deal to sell oil and gas assets in the Texas Panhandle to Templar Energy LLC as part of a deleveraging program that will allow the company to focus on the Eagle Ford Shale. One analyst called the sale a positive, but investors booed and sent Forest shares tumbling on Friday.

The pressure pumping industry is becoming more efficient and learning “to do more with less,” adding overall capacity for hydraulic fracturing (fracking) operations but also oversupplying the market and keeping pumping prices competitive for the next 12-18 months, according to analysts at UBS Securities LLC.

Approach Resources Inc. is selling its 50% interest in an oil pipeline system in the southern Midland Basin for proceeds of $108 million.

Linn Energy LLC is buying Permian Basin oil and gas properties for $525 million, acquiring 30 million boe of proved reserves (about 70% oil) with a reserve-to-production ratio of about 17 years.

Both oil and natural gas production in the Lone Star state climbed during June from year-ago levels, and the top producing counties remained the familiar Permian Basin and Eagle Ford Shale region names, according to Railroad Commission of Texas (RRC) data.

Genesis Energy LP has completed preliminary work and is preparing to begin construction of a $75 million crude oil unit train unloading facility in Raceland, LA, the Houston-based company said Monday.

Whiting Petroleum Corp. is building its presence in the Williston Basin by purchasing some acreage in North Dakota and Montana, the Denver-based operator said Tuesday.

Anadarko Petroleum Corp. is setting the wheels in motion to accelerate U.S. onshore drilling following the $2.64 billion cash sale for part of its offshore Mozambique natural gas project.

Liquids-rich and oil plays have clearly won the hearts and dollars of North American producers. The Eagle Ford and Bakken shales are stars now, but several others are poised to join or possibly eclipse them, according to a recent note by Standard & Poor’s Ratings Services (S&P).