Tag: Midland Basin
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 […]
20 billion barrels of oil in Texas’ Wolfcamp shale formation – USGS
Wolfcamp largest estimate of continuous oil that USGS has ever assessed in the US The Wolfcamp shale in the Midland Basin portion of Texas’ Permian Basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids, according to […]
Double Eagle Energy announces funding Midland Basin asset acquisitions, development
FORT WORTH, Texas – An oil and gas fund has agreed to invest up to $450 million of equity and delayed draw unsecured debt capital to support additional Midland Basin asset acquisition. Funds managed by affiliates of Apollo Global Management, LLC and Post Oak Energy Capital, LP announced Double Eagle Energy Permian LLC and Magnetar Capital […]
Concho Resources completes $1.62 billion acquisition of Midland Basin assets
Concho Resources acquires 10 million boe/d in deal, 67% comprised of oil MIDLAND, Texas – Concho Resources Inc. completed acquisition of 40,000 net acres in the core of the Midland Basin from Reliance Energy for approximately $1.625 billion. The acquired assets, which are located in Andrews, Martin and Ectorcounties in Texas. Concho is currently running one rig […]
Alpine hype: will Apache’s new Permian Basin discovery deliver? – Wood Mackenzie
Apache estimates of 2,000 to 3,000 net Permian Basin locations, a 20+ year drilling inventory assuming an average of 6 rigs per year The announcement of a major resource discovery by Apache Corp. has Permian Basin watchers atwitter, according to Wood Mackenzie. The new Alpine High play could boost the Permian Basin profile exponentially — if Apache’s estimates […]
Permian Basin News: Pioneer Natural Resources acquires Midland Basin acreage
Pioneer expects to use 3 horizontal rigs to drill the newly added Sale Ranch area locations DALLAS – Pioneer Natural Resources Company announced that they closed the acquisition of approximately 28,000 net acres in the Midland Basin from Devon Energy for $435 million, according to a press release. The acreage is located in Martin, Midland, Upton, Reagan, Glasscock, Andrews, Dawson, Gaines and […]
Blackstone, Jay Still join forces to buy 16,000 net acres in Permian Basin
Blackstone commits $500 million, says much more available for future expansion Blackstone, one of the world’s biggest investment firms, is expanding its presence in the Permian Basin of Texas, by joining up with a team of industry veterans led by Jay still. Blackstone Energy Partners, an affiliate of Blackstone (NYSE:BX), has partnered with Still and Guidon Energy, an oil and […]
Concho Resources acquires $1.625 billion in Midland Basin assets
Concho intends to fund cash portion of acquisition through proceeds from potential equity market transaction MIDLAND, Texas – Concho Resources Inc. announced it has reached an agreement to acquire 40,000 net acres in the core of the Midland Basin from Reliance Energy, a Midland-based energy company, for $1.625 billion, according to a press release. The privately […]
Sequitur Energy Resources announces acquisition of Southern Midland Basin assets
Sequitar gained a significant inventory of development opportunities in the Wolfcamp formations HOUSTON – Sequitur Permian, LLC, an affiliate of Sequitur Energy Resources, LLC, has announced the acquisition of producing properties in the Impossible and Barnyard Fields located in Reagan, Crockett, Irion and Schleicher Counties, Texas. Transaction Highlights Net current production of approximately 10,000 net Boepd […]
Pioneer Natural Resources buys Midland Basin acreage, adds rigs for 2016
Pioneer plans to acquire/trade for additional acreage adjacent to leases in Permian Basin Pioneer Natural Resources is buying 28,000 net acres in the Midland Basin from Devon Energy for $435 million and adding five drilling rigs, the company announced Wednesday. The acreage is located in Martin, Midland, Upton, Reagan, Glasscock, Andrews, Dawson, Gaines and Howard counties. Current net […]
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