Oil and gas rigs added for seventh consecutive month but the rate of growth slowed in February even as oil prices rose to their highest since 2019.
A Wolfcamp Shale discovery by Chevron, results from a PDC Energy Wattenberg Field venture in Colorado’s Weld County plus Antero Resources Marcellus completions in West Virginia top this week’s oil and gas drilling activity highlights from around the world.
U.S. Energy Development acquired interests in oil development projects that the company’s CEO described as “instrumental” in U.S. Energy’s continued growth and expansion in the Permian Basin.
Matt Fox, who served in several leadership roles at ConocoPhillips before becoming COO in 2018, helped guide the company’s “successful transformation” into an independent E&P, says CEO Ryan Lance.
The NorTex Midstream deal follows the acquisition of Tall Oak II and III by Tailwater Capital last month in Oklahoma’s Arkoma STACK.
Here’s a snapshot of recent energy deals including a series of transactions in the Duvernay Shale as both Shell and Ovintiv exit the play plus Continental Resources reveals itself as the buyer of Samson Resources’ Powder River Basin position.
Most Pioneer Natural Resources production in the Permian Basin is back online and storm damage repairs are “minor in the grand scheme of things,” CFO Neal Shah said.
Here’s a quicklist of oil and gas assets on the market including certain Ageron Energy properties located in the dry gas window of the Eagle Ford Shale in South Texas plus a Caney and Woodford Shale opportunity from Falcon E&P Royalty Holdings.
The winter storm last week in Texas will impact Pioneer Natural Resources’ production, focused solely in the Permian Basin, by about 30,000 to 55,000 bbl/d of oil and gas this quarter, the company said.