WorldOil Exxon stock slides on report of SEC probe into Permian valuations The probe may cast a shadow over Exxon’s efforts to turn a corner after its shares posted their worst annual performance in 40 years in 2020 amid a collapse in oil prices. CEO Darren Woods has been forced to slash spending, and last month the company said it will write down the value of North and South American natural gas fields by as much as $20 billion. Halliburton switches to grid electricity for Permian frac jobs The world’s biggest fracking services provider, Halliburton has deployed the industry’s first grid-powered fracking operation on behalf of Cimarex Energy Co. To date, it’s completed almost 340 stages across multiple wells. Devon Energy joins shale producers pledging restraint as oil rallies “I have a hard time seeing the need for U.S. producers over the next several years to get back to double-digit growth,” Devon Energy CEO Rick Muncrief said in an interview. “For this management team, if we really think about 2021, let’s keep it flat.” Texas oil and gas regulator exceeds well site inspection goals In 2018, the Railroad Commission began work toward the ambitious goal of inspecting every one of the nearly 440,000 oil and gas wells in the state at least once every five years. The agency is well on its way to exceeding its goal again this year. Pioneer’s CEO sees shale output flat for the foreseeable future “I really don’t see much increase in the Permian basin or the U.S. shale over the next several years,” said Scott Sheffield, chief executive officer of Pioneer Natural Resources Co. Opinion: An assault from all fronts on energy independence Despite the claims of the sensationalist, fake-news media, the environment in America is getting better, not worse, writes Texas Railroad Commission Chairman Wayne Christian. Texas, New Mexico to offer 100+ oil and gas leases in online auctions The BLM New Mexico State Office will be offering 37 parcels covering 6,850.72 acres, while , the Texas General Land Office will offer 66 tracts covering 22,500.607 net mineral acres in 16 different counties in January. Texas oil regulator releases October 2020 production statistics The RRC reports that from November 2019 to October 2020, total Texas reported production was 1.5 billion barrels of crude oil and 10.4 trillion cubic feet of total gas. Diamondback buys Guidon Operating LLC for $862 million Diamondback said it agreed to purchase closely held Guidon Operating LLC. That cash-and-stock deal values Guidon, which was co-founded in 2016 by funds managed with Blackstone Group, at about $862 million. Diamondback to buy QEP Resources in $2.2 billion all-stock deal Diamondback Energy and QEP Resources have entered into a definitive agreement under which Diamondback will acquire QEP in an all-stock transaction valued at approximately $2.2 billion, including QEP’s net debt of $1.6 billion as of September 30, 2020.