The largest increases by basin occurred in the Permian Basin, where eight rigs were added. Meanwhile, the Williston Basin added five rigs and reached a 2021 high of 19.
EOG completes four Bone Spring wells in Lea County, new offshore Suriname discovery, results from five directional Garfield County, Colo., wells and Utica Shale completion produces 39.04 MMcf of gas per day top this week's oil and gas drilling activity highlights from around the world.
Gardner Denver High Pressure Solutions (GD), a total solutions provider for the drilling, well servicing and frac pumps market, said on June 2 that it has proven in field trials that its new V3 valve significantly increases performance hours in high pressure hydraulic fracturing operations.
The acquisition will create one of the largest private companies in the Permian Basin, with around 57,000 net acres, roughly 45,000 boe/d and 4 rigs running as of June 1, 2021.
U.S. rig count fell slightly for the second week in a row, leading to the conclusion that last week’s sudden drop was more than a blip caused by rig downtime — some rigs moving between wells.
Hibernia’s produced water assets in the Permian directly overlay XRI’s existing midstream infrastructure and recycling assets in the Midland Basin, “an area where XRI has significant operating expertise,” says XRI CEO Matthew Gabriel.
Here’s a snapshot of recent energy deals including Oasis Petroleum’s Permian Basin exit and the all-equity consolidation of three Kayne Anderson portfolio teams in the Anadarko Basin.
Here’s a quicklist of oil and gas assets on the market including two Permian Basin packages in Howard County, Texas—one comprising Cholla Petroleum’s nonoperated position and the other a private seller’s mineral and royalty interest footprint.
Despite being named as potential targets for larger rivals, the merger between Cabot Oil & Gas and Cimarex Energy shows a desire to remain independent while reaching a size that is relevant for energy investors, says Enverus analyst Andrew Dittmar.