Permian Consolidation Piques Interest in Drill-to-earn Opportunities
Drill-to-earn arrangements have been utilized in the Permian for years in the forms of joint ventures, farm-outs and other customizable agreements.
Tourmaline’s $950MM Crew Energy M&A Drills Deeper In Montney
Tourmaline Oil is adding high-quality drilling locations in Canada’s Montney Shale with the CA$1.3 billion (US$950 million) acquisition of Crew Energy Inc.
Occidental’s Stratos DAC Project on Track for 2025 Startup
Occidental Petroleum’s direct air capture commercial-scale facility in Texas is designed to capture up to 500,000 metric tons of CO2 annually.
Summit Sees Drop-off in Gas Traffic Following Utica Midstream Sale
Summit Midstream spent the second quarter reorganizing and raising cash for the future, the company's CEO said.
Granite Ridge Adds Interests in Midland, Delaware, Williston
Non-op Granite Ridge Resources closed transactions during and after the second quarter in multiple plays, including the Midland, Delaware, Williston, D-J and Appalachian basins.
Oxy CEO Hollub on Divestment Plans: This is Not a ‘Fire Sale’
Occidental Petroleum is keeping under wraps what it might sell to prevent compromising “our ability to maximize the value,” CEO Vicki Hollub said during an Aug. 8 earnings call.
Energy Transfer’s Warrior Shrugs Off Newly Announced NatGas Pipeline
Energy Transfer said the July 31 announcement of the new Permian Basin Blackcomb natural gas pipeline will have “zero” effect on its Warrior Pipeline.
Newly Public LandBridge Closes Three Surface Acquisitions
LandBridge’s acquisitions in second-quarter 2024 bring its total Permian Basin surface position to approximately 220,000 acres.
SM, Vital Reveal Wildcatting for Permian Barnett and Woodford Oil
SM Energy has landed two tests in its Midland Basin leasehold, while Vital Energy reports it’s drilled four. SM’s IPs are promising, while Vital has just begun flowback.
Diamondback Curtails Permian Oil Output Amid Associated Gas Glut
Diamondback Energy, one of the Permian’s largest oil producers, curtailed some Permian oil output to limit associated gas production. Permian gas output is near record highs, and takeaway capacity out of the basin is bottlenecked.