East Daley: New Pipelines Could Open Permian Floodgates
Led by the opening of the Matterhorn Express, a slew of projects is set to battle regional bottlenecks in the Permian Basin region but power generation may be the catalyst for newly announced pipelines.
Brigham Exploration Grows Permian Footprint in Non-Op Assets Deal
Brigham Exploration is significantly adding to its Permian Basin non-operated portfolio with an acquisition of 7,000 acres from Great Western Drilling.
Novel EOR Process Could Save Shale from a Dry Future
Shale Ingenuity’s SuperEOR, which has been field tested with positive results, looks to remedy the problem of production declines.
Exxon’s Custom, Lightweight Proppant Boosts Permian EURs by 15%
Exxon is lowering drilling and completion costs, boosting EURs by 15% with custom proppant and considering upside from less developed Permian Basin zones.
E&P Highlights: Dec. 16, 2024
Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.
Freehold Closes $182MM Acquisition of Midland Basin Interests
Freehold Royalties’ acquisition from a private seller includes around 1,300 boe/d of net production and 244,000 gross drilling acres largely operated by Exxon Mobil and Diamondback Energy.
Vitesse Energy to Buy Bakken Pureplay Lucero in $220MM Deal
Vitesse Energy will acquire Lucero Energy’s Bakken/Three Forks assets, including 25 net remaining locations, 1.9 net DUCs and 20 wells that are candidates for recompletions.
Wildcatting is Back: The New Lower 48 Oil Plays
Operators wanting to grow oil inventory organically are finding promising potential as modern drilling and completion costs have dropped while adding inventory via M&A is increasingly costly.
PHX Minerals Explores Sale After Rejecting Acquisition Bids
PHX Minerals hired bankers to explore a potential merger or sale of the firm, which manages assets across the Midcontinent and Haynesville Shale play. PHX has rejected multiple unsolicited acquisition bids in the past two years.
US Oil, Gas Rig Count Unchanged at 589 in Week to Dec. 13, Baker Hughes Says
U.S. energy firms this week operated the same number of oil and natural gas rigs as they did last week, according to Baker Hughes' weekly report.