The basin is deeper, gassier, more geologically complex and more remote than the Midland Basin to the east. But the Delaware is too sweet of a prize to pass up for many of the nation’s top oil and gas producers.
The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.
In addition to its three mineral royalty acquisitions in the Permian, Union Jack Oil is also looking to expand into Oklahoma via joint ventures with Reach Oil & Gas Inc.
As EOG Resources explores premium onshore drilling opportunities, the company is seeing promising results from its South Texas Dorado plays and Ohio Utica results that compare with the Permian Basin.
Vital Energy, formerly known as Laredo Petroleum, said it entered a deal to purchase leasehold in the Midland Basin’s Upton and Reagan counties, Texas, in a deal worth more than $210 million.
Point Energy Partners Operating LLC retained EnergyNet for the sale of an overriding royalty interest in a 24-well package plus seven DUCs located across the Wolfcamp and Bone Spring formations in Ward County, Texas.
GP Howard LLC has retained RedOaks Energy Advisors as the exclusive advisor in connection with the sale of non-operated working interest properties located in Howard County, Texas, including six new wells drilled and two new wells that began production.
Lake Crystal Energy retained RedOaks Energy Advisors for the sale of certain Midland Basin operated properties.
Here’s a quicklist of oil and gas assets on the market including a Recoil Resources Eagleville Field well package within the Eagle Ford Basin in Atascosa and Wilson counties, Texas.
Here’s a quicklist of oil and gas assets on the market including a nonoperated position in the Bakken concentrated in Williams and Dunn counties, North Dakota, plus a Sabine Oil & Gas East Texas well package.