Tag: Delaware Basin

State of the oil patch: Permian Basin slowly ramping up for takeoff in 2017

State of the oil patch: Permian Basin slowly ramping up for takeoff in 2017

Experts expect to see more E&P, service company bankruptcies before next boom starts Despite oil prices hovering in the mid-$40 range, the Permian Basin industry is shaking off two years of hibernation and readying itself for another upturn. The pace of activity has picked up noticeably of late. Apache announced on Wednesday a huge new […]

By September 7, 2016 0 Comments Read More →
Apache discovers 3 billion barrel ‘Alpine High’ play in Southern Delaware Basin

Apache discovers 3 billion barrel ‘Alpine High’ play in Southern Delaware Basin

Apache has drilled 19 wells in Alpine High, with 9 currently producing in limited quantities due to infrastructure constraints HOUSTON – Apache Corporation says it has discovered a huge field with reserves of three billion barrels of oil and 75 Tcf of natural gas in the southern Delaware Basin in West Texas. The discovery was announced Wednesday after “two […]

By September 7, 2016 1 Comments Read More →
EOG Resources in a class of its own – energy economist

EOG Resources in a class of its own – energy economist

EOG says Permian Basin assets are responding well to productivity improvements like longer horizontal well laterals Not many American oil producers are competitive at low prices, but EOG Resources has the technical knowhow and execution to pull it off, says energy economist Ed Hirs. EOG announced in its last operational update that “premium inventory” (defined as direct […]

PDC Energy to buy two privately held companies for $1.5B

PDC Energy to buy two privately held companies for $1.5B

PDC Energy snaps up property in Texas’ Delaware Basin Aug 23 (Reuters) – Oil and gas producer PDC Energy Inc said it would buy two privately held companies for about $1.5 billion to add acreage in the Delaware Basin in Texas. Both the privately held companies are managed by Kimmeridge Energy Management Co. The deal […]

By August 23, 2016 0 Comments Read More →
EagleClaw Midstream Ventures to acquire PennTex Permian

EagleClaw Midstream Ventures to acquire PennTex Permian

EagleClaw’s  total processing capacity increased 320 MMcf/d, with additional 75,000 acres for drilling in the Permian Basin MIDLAND, Texas – EagleClaw Midstream Ventures, LLC announced the company entered into an agreement to acquire PennTex Permian, LLC a wholly owned subsidiary of PennTex Midstream Partners, LLC, in a press release. Primarily located in Reeves County, Texas, PennTex Permian’s assets include a cryogenic processing […]

Clayton Williams Energy suffers Q2 loss, refocuses on Delaware Basin

Clayton Williams Energy suffers Q2 loss, refocuses on Delaware Basin

Clayton Williams has oil and gas production of 13.6 MBOE/d Clayton Williams Energy, Inc. announced a Q2 net loss of $73.8 million, with a plan focused on the development of its 65,000 net acre position in the southern Delaware Basin. Production costs in Q2 were $19.2 million versus $23.1 million in Q2 2015 due to lower oilfield […]

Contango purchases Southern Delaware Basin acreage for $25 million

Contango purchases Southern Delaware Basin acreage for $25 million

Acreage located in western Pecos County, Texas, with 157 potential well locations HOUSTON, Texas – Contango Oil & Gas Company says that it has an agreement with a private oil and gas company to purchase one-half of the seller’s interests in approximately 12,100 gross undeveloped acres for up to $25 million in the Southern Delaware Basin of […]

Matador Resources focuses on Delaware Basin (Rustler Breaks, Wolfcamp)

Matador Resources focuses on Delaware Basin (Rustler Breaks, Wolfcamp)

Matador expects its natural gas processing plant to come online Aug, 2016, capable of 60 million cubic feet of natural gas per day DALLAS – Matador Resources Company, an independent energy company, currently focused on its Delaware Basin operations in Southeast New Mexico and West Texas,  provided an update of its ongoing operations. Highlights include the initial results from […]

US Lower 48 sustains $150 billion in capex cuts to 2017 – Wood Mackenzie

US Lower 48 sustains $150 billion in capex cuts to 2017 – Wood Mackenzie

Midland and Delaware basins hold the largest number of undrilled, low-cost tight oil locations HOUSTON, Texas— Of the more than US$370 billion in global capital expenditure cut by upstream developers across 2016 and 2017, US$150 billion will be slashed in the US Lower 48 alone — more than three times any other single country, according to […]

Permian Basin: Big potential for unconventional technologies to boost shale recovery

Permian Basin: Big potential for unconventional technologies to boost shale recovery

“Tight conventional plays in Texas, including Permian Basin and Eagle Ford fairway, also fared well, in terms of potential for redevelopment,” said Trammel. HOUSTON – A new study indicates there is significant upside potential for US oil and gas operators to apply lower-cost unconventional drilling and completion technologies to boost production from tight conventional reservoirs, according […]