Field Development , Drilling

New Permian Math: Vital Energy and 42 Horseshoe Wells

Vital Energy anticipates making 42 double-long, horseshoe-shaped wells where straight lines would have made 84 wells. The estimated savings: $140 million.

May 9, 2024

Acquisitions & Divestitures , Gathering & Processing , Pipelines , Construction

Kinetik Launches Delaware Basin M&A Valued at $1.3B

Kinetik Holdings will buy Durango Permian infrastructure for $765 million, excluding contingency payments, and sell its interests in the Gulf Coast Express pipeline to AcrLight Capital Partners for $540 million.

May 9, 2024

Field Development , Emerging Plays

SM Energy Targets Prolific Dean in New Northern Midland Play

KeyBanc Capital Markets reports SM Energy’s wells “measure up well to anything being drilled in the Midland Basin by anybody today.”

May 9, 2024

Shale Plays , Crude Oil , Natural Gas

Enverus: Permian Gains Will Sustain US Oil Production Through 2030

Crude output gains from the Permian Basin will keep U.S. oil production relatively flat entering the 2030s, offsetting declines from mature oily basins, according to Enverus Intelligence Research.

May 8, 2024

Acquisitions & Divestitures , Exploration & Production

Permian Resources Adds More Delaware Basin Acreage

Permian Resources also reported its integration of Earthstone Energy’s assets is ahead of schedule and raised expected annual synergies from the deal.

May 7, 2024

Acquisitions & Divestitures , Field Development , Shale Plays

Exxon Shale Exec Details Plans for Pioneer’s Acreage, 4-mile Laterals

Exxon Mobil plans to drill longer, more capital efficient wells in the Midland Basin after a major boost from the $60 billion Pioneer Natural Resources acquisition. Data shows that Exxon is a leading operator drilling 4-mile laterals in the Permian’s Delaware Basin.

May 3, 2024

Pipelines , Natural Gas , Liquefied Natural Gas (LNG) , Earnings

Targa Expects Another Major Permian Pipeline Project This Year

Targa Resources says different projects are falling in place for gas capacity expansion

May 3, 2024

Acquisitions & Divestitures , Finance

Occidental Explores Sale of Permian Assets Worth Over $1B, Sources Say

Occidental Petroleum is exploring a sale of assets in the Barilla Draw region of Texas, which is located within the Delaware portion of the Permian Basin.

May 3, 2024

Acquisitions & Divestitures , Shale Plays , Crude Oil , Natural Gas

Exxon Closes $60B Pioneer Deal, Reshaping Permian Basin

After facing regulatory scrutiny, Exxon Mobil closed a roughly $60 billion acquisition of Pioneer Natural Resources. The largest shale oil transaction ever signed will reshape the order of power in the vast Permian Basin oil field.

May 3, 2024

Mergers , Acquisitions & Divestitures , Policy & Regulations

FTC OKs Exxon-Pioneer Merger, but Bars Sheffield from Exxon’s Board

A megamerger between Exxon Mobil and Pioneer Natural Resources can proceed, but Pioneer Chairman Scott Sheffield is out, the Federal Trade Commission says.

May 2, 2024