Tag: Delaware Basin

High costs may push away some Permian Basin investors

High costs may push away some Permian Basin investors

Permian Basin a victim of its own success The booming Permian Basin is the largest petroleum producing basin in the United States and has enjoyed a rush of capital since oil prices began to recover in February of last year. A number of exploration and production companies have flooded the Texas and New Mexico play […]

Marathon’s $700USD million Delaware ‘bolt-on’ acquisition

Marathon’s $700USD million Delaware ‘bolt-on’ acquisition

Marathon holds almost 600 million boe of risked resource, near 1.5 billion boe of total resource in Permian On March 21, Marathon bought 21,000 net acres in the Delaware Basin for US$700 million from Black Mountain Oil & Gas and other private sellers, according to Wood Mackenzie. The deal comes soon after Marathon entered the […]

Noble Midstream enters pipeline joint venture in Delaware Basin

Noble Midstream enters pipeline joint venture in Delaware Basin

Noble Midstream’s interest will be funded with cash, and its undrawn credit facility Noble Midstream Partners LP and Plains All American Pipeline, L.P. announced an agreement to form a 50/50 joint venture to acquire Advantage Pipeline, L.L.C., which owns a 70-mile, 16-inch crude oil pipeline located in the southern Delaware Basin, according to a press release. […]

By February 13, 2017 0 Comments Read More →
ExxonMobil doubles Permian Basin resource to 6 billion barrels

ExxonMobil doubles Permian Basin resource to 6 billion barrels

ExxonMobil currently producing 40,000 net oil-equivalent b/d across Permian Basin leasehold Exxon Mobil Corporation announced it will more than double its Permian Basin resource to 6 billion barrels of oil equivalent through the acquisition of companies owned by the Bass family of Fort Worth, Texas, with an estimated resource of 3.4 billion barrels of oil […]

By January 17, 2017 0 Comments Read More →
Medallion Midstream announces Delaware Basin oil pipeline

Medallion Midstream announces Delaware Basin oil pipeline

Pipeline is expected to have initial capacity of 100,000 b/d IRVING, Texas – Medallion Midstream, LLC announced it entered into a letter of intent to construct a new Delaware Basin crude oil pipeline system to provide crude oil gathering and transportation services for Parsley Energy, according to a press release. The new pipeline will be anchored by Parsley’s […]

By December 6, 2016 0 Comments Read More →
Silverback Exploration to sell oil and gas assets for $855 million

Silverback Exploration to sell oil and gas assets for $855 million

Silverback Exploration Delaware Basin assets sold to Centennial Resource Development Nov 28 (Reuters) – Privately held Silverback Exploration LLC will sell oil and gas assets in the Delaware Basin, Texas, for $855 million to Centennial Resource Development Inc, which is backed by energy private equity fund Riverstone Holdings LLC. The assets have net production of about […]

By November 28, 2016 0 Comments Read More →
Concho Resources acquires Northern Delaware Basin assets

Concho Resources acquires Northern Delaware Basin assets

Complementary acquisition adds scale and long-lateral drilling inventory in top-tier Red Hills area MIDLAND, Texas – Concho Resources Inc. says it reached an agreement to acquire approximately 24,000 gross (16,400 net) acres in the northern Delaware Basin for approximately $430 million, according to a press release. The acquired acreage is complementary to the Company’s leasehold position […]

By November 21, 2016 0 Comments Read More →
Permian Basin a modern gold rush for shale producers

Permian Basin a modern gold rush for shale producers

IHS Markit estimates Permian Basin will produce additional 60 billion barrels of oil While the energy world has been pre-occupied with the global price rout over the past two years, the Permian Basin in West Texas has quietly become the hottest oil play on the planet. I interviewed senior analyst Pete Stark of IHS Markit […]

By November 17, 2016 1 Comments Read More →
Resolute Energy acquires 3,293 net acres in Delaware Basin for $135 million

Resolute Energy acquires 3,293 net acres in Delaware Basin for $135 million

Acquisition price is $135 million, $90 million in cash and issuance to Firewheel of 2,114,523 Resolute shares($45 million) DENVER, CO – Resolute Energy Corporation reported it has entered into a definitive agreement with Firewheel Energy, LLC, a portfolio company of EnCap Investments, to acquire certain oil and gas properties located in Reeves County, Texas, for […]

By October 5, 2016 0 Comments Read More →
Delaware Basin: Where the strong survive – IHS Markit

Delaware Basin: Where the strong survive – IHS Markit

Analysis says dominant players in Delaware Basin delivering remarkable profitability at current prices HOUSTON – A handful of dominant oil and gas companies operating in established sub-plays in the Delaware Basin are delivering remarkable profitability at current prices thanks, in part, to their early entry and their extensive technical knowledge of the local geology, according to […]

By October 5, 2016 0 Comments Read More →