Archive for the ‘Permian Basin’ Category
Fitch forecasts increasing US rig counts
April 21st, 2017 by Latest News
US exploration and production budgets are expanding for the first
time since 2014, Fitch Ratings said, adding that its analysts expect
higher US rig counts along with increased drilling and completion
spending in 2017 compared with 2016.
PwC reports record-high US oil, gas M&A deal value for first quarter
April 20th, 2017 by Latest News
Mergers and acquisitions in the US oil and gas industry hit a record value for a first quarter, reinvigorated by steadier oil and gas prices, a new pro-energy administration, and technological advances, according to PwC LLP’s latest energy deals report.
EIA: Production from major US onshore oil regions to rise 124,000 b/d in May
April 17th, 2017 by Latest News
The seven major onshore producing regions in the US are expected to collectively increase oil output by 124,000 b/d during May to average 5.193 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report.
Blackstone Energy Partners and Blackstone Capital Partners have agreed to buy EagleClaw Midstream Ventures LLC, a portfolio company of EnCap Flatrock Midstream, for $2 billion. The all-cash deal is expected to close by the end of July and includes $1.2…
BHI: US rig count rises for 13th straight week
April 13th, 2017 by Latest News
The tally of active rigs in the US gained 8 units to 847 during a week
ended Apr. 13 shortened a day by the Good Friday holiday, Baker Hughes Inc. data indicated. Much of the lift was again provided by the Permian—but this time on the New Mexico portion of the basin.
BHI: Permian leads 15-unit jump in US rig count
April 7th, 2017 by Latest News
The US drilling rig count’s surge continued during the week ended Apr. 7 with another 15-unit increase, according to Baker Hughes Inc. data. Twelve of those units started up in the Permian basin.
Marathon Oil Corp., Houston, has agreed to acquire 21,000 net surface acres primarily in the Permian’s northern Delaware basin of New Mexico from Black Mountain Oil & Gas LLC, Fort Worth, and other private sellers for $700 million in cash, excluding closing adjustments.
The US drilling rig count jumped 21 units to 789 during the week ended Mar. 17, continuing a recent surge in a drilling rally that dates back to May 27, 2016, according to Baker Hughes Inc. data.