Tag: West Texas
SM Energy Cores up in Midland Basin with simultaneous transactions
SM Energy funding majority of $1.1 billion portion of acquisition with proceeds from Williston Basin asset sale DENVER – SM Energy Company announced it entered into a purchase agreement to acquire 35,700 net acres in Howard and Martin Counties in West Texas, expanding the company’s Midland Basin footprint to approximately 82,450 net acres. The acquired acreage […]
Marathon Oil Corp sale of Permian Basin assets part of industry rationalization – economist
Marathon Oil sale of 349 wells: 185 active, 124 active injection, 34 inactive and 6 temporally abandoned Rationalization of the Permian Basin oil and gas industry continues with news that Marathon Oil is selling its stake in non-operated wells and redeploying the capital to the STACK play in Oklahoma. An analyst’s note from Credit Suisse Monday downgraded […]
New study fails to link drilling and water contamination in West Texas
“Groundwater testing is a complex process, and deriving concrete results from a very limited set of samples is not just difficult; it’s arguably inappropriate” This week, researchers at University of Texas – Arlington (UTA) released a new study that suggests drilling may be impacting water quality in West Texas’ Cline Shale region. But the data […]
BlueStone acquires Quicksilver’s US assets, 1,000 producing wells in Barnett Shale
Barnett Shale acquisitions coupled with its South Texas holdings, BlueStone will have net production of more than 180 MMCFE per day TULSA, Okla. – BlueStone Natural Resources II, LLC has announced that it has closed on the purchase of Quicksilver Resources Inc.’s U.S. oil and gas assets, 1,017 producing wells in the Barnett Shale play, with additional […]
Chevron moving away from large projects, eyeing Permian Basin tight-oil plays
With approximately 2 million net acres, Chevron is largest net acreage holder in the Permian Basin With billions already spent on large scale investments, Chevron’s re-focusing 2016 capital spending toward tight plays like the Permian Basin that are shorter-cycle, lower cost, and less risky. “We’re completing major projects that have been under construction for several years. This […]
American oil producers’ love-hate relationship with new technology
American oil engineers are a hard sell for new technology, but innovation always seems to find a way into oil patch Will American oil companies be able to innovate their way to lower production costs? Maybe, according to the experts I interviewed, but their engineering corporate culture both helps and hinders the process. Oil and gas […]
West Texas jury says a deal is a deal in $60 million oil leases law suit
West Texas Tiburon Land claimants awarded $33.1 million verdict, second set of claimants receive $28 million A West Texas jury has awarded more than $60 million to investors who claimed they were defrauded by an Abilene oil man and his co-defendants, according to the lawyer representing one group of claimants. Plaintiffs claimed they shared in the first 30,000 acres of […]
Reel Thanx of Midland, Texas throws a line to injured soldiers
Reel Thanx has taken 168 soldiers on fishing weekend to Lake Amastad, changed lives Mike Hutt was a broken man when he stepped off the plane at Midland Airport in 2012. And a little apprehensive about the upcoming weekend fishing trip with local charity Reel Thanx. After 17 years in the military, Hutt was discharged […]
West Texas oil rig explosion, three workers killed
Texas oil rig explosion near Rankin, south of Midland An oilfield rig in West Texas exploded Tuesday morning, killing three workers, all members of the same family. Insp. Dusty Kilgore of the Upton County Sheriff’s Office said the west Texas oil rig explosion occurred near the city Rankin, about 40 miles south of Midland. KCBD […]
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