Midland, Texas-based Endeavor Energy Resources has purchased IFS Applications as the new ERP system of record for its oilfield services division.
In an unpredictable market, newly minted E&Ps have abandoned the old models of building ready-to-drill assets and instead are forging ahead with new models, operating strategies and leaders.
Gravity completed the acquisition of On Point Oilfield Holdings, creating the largest commercial produced water disposal company by injection volumes in the Midland Basin.
Similar to another acquisition made by Laredo Petroleum in the Permian Basin earlier this quarter, the bolt-on in Glasscock County, Texas, continues to shift the company’s production mix toward oil.
The deal would create the largest pure-play northern Midland Basin E&P with a 73,000-net-acre position and 12,000 boe/d of production that is expected to more than double through 2020.
Today’s featured Forty Under 40 honoree is Mickey Friedrich, who helped lead the initial horizontal Wolfcamp development in the Midland Basin earlier in his career while still with Pioneer.
Execs from private operators Caza Oil & Gas, Henry Resources and Zarvona Energy talk key to survival in the industry’s new hold-for-longer mode.