Permian
Ecopetrol in Discussions with Oxy to Buy $3.6B Stake in CrownRock
Occidental Petroleum is in talks with joint venture partner Ecopetrol SA to acquire a 30% stake in CrownRock LP for approximately $3.6 billion, according to regulatory filings.
Beyond the Horizon: Exploring the Permian’s Longest Laterals
Horizontally drilled lateral wells are all the rage in the Permian Basin. Let’s take a look at the 10 longest wells drilled in the Basin.
EOG Resources Wildcatting Pearsall in Western Eagle Ford Stepout
EOG Resources spud the well June 25 in Burns Ranch with rights to the Pearsall well about 4,000 ft below the Eagle Ford, according to myriad sources.
Occidental Clears FTC Scrutiny to Close $12B CrownRock Deal
The waiting period for Occidental’s $12 billion acquisition of CrownRock LP under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired, clearing the way for the deal to close next month.
SM Energy Offers Senior Notes to Help Fund $2B XCL Resources’ Deal
SM Energy said it intends to use the net proceeds from the notes to fund its pending $2.04 billion purchase of XCL Resources.
Marketed: Delaware Basin AFE Interests Divestiture
Armstrong Energy Corp. and Slash Exploration have retained RedOaks Energy Advisors for a sale of certain wellbore-only AFE interests located in Lea County, New Mexico.
New Wells Underway: Private E&Ps Pulled 40% of US Permits in May
Private E&Ps are keeping pace with public operators in taking permits for new-drill horizontals across the Lower 48, according to a research report.
WoodMac: Permian Producers Eye Mexico’s Saguaro Energía LNG FID for Takeaway Relief
Wood Mackenzie expects Mexico Pacific to take FID on the first phase of its Saguaro Energía LNG project in either the second half of 2024 or early 2025.
Energy Transfer-Sunoco JV Forms Monster Permian Network
The joint venture between midstream operators Sunoco and Energy Transfer’s crude gathering in the Permian Basin should prove to be mutually beneficial, analysts say.
West Texas Hold ’Em: Permian Plays Pipeline Poker
The consensus is that the Permian Basin needs another major gas pipeline soon. Midstream companies are trying to figure out when … and who will make the move.