Permian Basin
News
January 24, 2023
Matador said Advance had an estimated production in the first quarter last year of 24,500 to 25,500 barrels of oil and natural gas equivalent per day. It also has about 18,500 net acres in the northern Delaware Basin, which is part of the larger Permian formation.
News
January 11, 2023
With this addition, H&P joins an impressive roster of top-tier companies committed to responsibly developing resources in the Permian Basin while improving residents' quality of life in West Texas and Southeastern New Mexico.
News
January 06, 2023
The EPA has considered labeling parts of the region as violating federal air quality standards for ozone. However, the Biden administration omitted the policy from an agenda of planned regulations and instead deemed the measure “inactive."
News
January 05, 2023
Chief Executive Officer Scott Sheffield said his company now sees Permian production of about 7 million bpd by 2030, down from a previous view of 8 million bbl.
News
January 02, 2023
Barnwell has acquired a non-operated working interest in a two-well pad consisting of 10,000’ laterals targeting the Wolfcamp Formation in Loving and Ward Counties, Texas. Initial production is expected in Barnwell's second fiscal quarter.
News
U.S. Department of Energy advances MMEX Resources to final application stage for Trans Permian H2Hub
January 02, 2023
The planned projects within the Trans Permian H2Hub include hydrogen bus manufacturing, H2 re-fueling stations, green and blue hydrogen production, ammonia and methanol production, solar and wind power, and metropolitan bus transport projects in the major cities.
News
December 30, 2022
U.S. shale executives remain concerned about the outlook for rising costs going into 2023 as they continue to struggle with hiring and retaining workers, according to the Federal Reserve Bank of Dallas.
News
December 27, 2022
If 2022 was big for international oil, it was astronomical for the domestic sector. From our coveted annual World Oil Awards to happenings in West Texas, news never stopped flowing. Read the top home-grown stories of 2022 here.
News
December 19, 2022
The Railroad Commission activated personnel in response to a 5.4 magnitude earthquake about a dozen miles north of Midland in Martin County. They will take any necessary actions to protect public safety and the environment.
News
December 12, 2022
With over two-thirds of the Permian’s premium land now drilled, producers are seeking more permits than ever to burrow beneath Midland and its 130,000 residents.
News
November 17, 2022
Diamondback will acquire drilling rights across 15,000 net acres in the Permian’s northern Midland Basin in Texas from closely held Lario Oil and Gas Co. for $850 million in cash and 4.18 million shares, according to a statement on Wednesday.
News
November 17, 2022
The 5.3-magnitude earthquake hit at 3:34 p.m. local time near Mentone, Texas, according to the US Geological Survey. The event topped a magnitude 5 quake that struck just north on March 26, 2020 and was considered the region’s largest.
News
November 16, 2022
Texas oil and gas production will continue to recover and grow during 2023, and use of oilfield electrification will expand with it. That was the takeaway message from Texas Alliance of Energy Producers President Jason Modglin, who delivered the keynote address Tuesday morning during Day 1 of World Oil’s Oilfield Electrification Technology Conference.
News
November 15, 2022
Operators in America’s biggest shale oil basin are set to significantly increase the amount of natural gas they burn into the atmosphere because of a lack of pipeline capacity to ship it elsewhere.
News
November 04, 2022
Texas oil and gas regulators this week assessed more than $688,000 in fines involving 262 enforcement dockets against operators and businesses at the Commissioners’ Conference.
News
November 03, 2022
US oil-supply growth is being hindered by “rapidly escalating” equipment costs and supply-chain snags, ConocoPhillips CEO Ryan Lance said Thursday.
News
October 24, 2022
Natural gas prices in the Permian Basin of West Texas are plunging toward zero as booming production overwhelms pipeline networks, creating a regional glut of the fuel.
News
October 12, 2022
Diamondback Energy Inc. agreed to buy closely held FireBird Energy LLC in a cash-and-stock deal valued at about $1.6 billion, enabling the U.S. shale oil producer to grow in the Permian Basin.
News
September 26, 2022
Now, in a sign of just how much Russia’s invasion of Ukraine has thrown global energy markets into disarray, it’s natural gas, not oil, that’s becoming more coveted in U.S. shale fields.
News
September 15, 2022
The Permian Strategic Partnership announced today the addition of two new companies, Kinetik and WaterBridge Resources, bringing its member company count to 19.
News
September 01, 2022
Investors desperate for clues on the outlook for U.S. shale oil production now have one of their first official forecasts for 2023, with the new chief executive officers of Permian Resources Corp. planning a 10% increase to take advantage of elevated crude prices.
