The combination of Crescent Energy and SilverBow Resources will yield one of the Eagle Ford’s top producers—and the pro forma E&P could look to gobble up more acreage in South Texas after closing.
Diamondback Energy’s President and CFO Kaes Van't Hof also addressed new Permian exploration and the lack of “fun” dealing with the FTC on its deal to buy Endeavor Energy Resources.
Crescent Energy’s acquisition of SilverBow Resources will create the second largest Eagle Ford Shale E&P with production of about 250,000 boe/d, the companies said.
ConocoPhillips views the Permian Basin as a “growth engine” within its Lower 48 portfolio, the company’s Midland Basin Vice President Nick McKenna said during Hart Energy’s SUPER DUG event in Fort Worth.
BPX Energy, BP’s Houston-based subsidiary, plans to bring on its fourth and last Permian Basin processing facility in mid-year 2025, CEO Murray Auchincloss said.
Bayou Bend is a carbon capture and sequestration joint venture between Chevron, TotalEnergies and Equinor located along the Gulf Coast in Texas.
Magnolia Oil & Gas said it paid $125 million to a private operator to acquire the acreage, which has minimal production.
Midstream company Williams saw overall demand growth as heavy gas volumes passed through its network.
Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
Exxon Mobil plans to drill longer, more capital efficient wells in the Midland Basin after a major boost from the $60 billion Pioneer Natural Resources acquisition. Data shows that Exxon is a leading operator drilling 4-mile laterals in the Permian’s Delaware Basin.