The project will use captured flared natural gas to power Riley Permian's operations in Yoakum County, Texas.
Undeterred by volatility in U.S. natural gas prices, Houston-based EOG Resources plans to accelerate drilling and gas production this year, including its emerging plays in South Texas and the Utica Shale.
Chevron chairman and CEO Mike Wirth said that the company hopes to reach 1 MMboe/d of production in the Permian Basin by 2025 before plateauing at approximately 1.2 MMboe/d.
Also in this week's A&D Minute: Chesapeake got a "much better deal" in its second Eagle Ford divestiture of the year and Quantum Energy dipped its toe in the D-J Basin.
The OGInterview: Earthstone Energy CEO Robert Anderson spoke to Hart Energy on scaling up when others hunker down.
Earthstone Energy CEO Robert Anderson spoke to Hart Energy on scaling up when others hunker down.
Diamondback Energy subsidiary Cottonmouth has formed a joint venture with Verde Clean Fuels to turn associated natural gas that would have been flared into low-carbon gasoline in the Permian Basin.
The South Texas Eagle Ford Shale’s emergence as an M&A hot spot in late 2022 highlights the play’s market potential this year.
Riley Permian is adding 11,700 net acres and over 100 gross horizontal drilling locations in Eddy County, N.M., to its portfolio.
Paradigm will sell three midstream gathering systems serving the Bakken, and another in the Eagle Ford, to Hilcorp-affiliate Harvest.