Permian Basin
News
January 26, 2021
As much as 40% of the natural gas that’s expected to be flared in the Permian Basin in 2025 could be avoided at no cost to drillers if regulators abandoned their hands-off approach to the controversial practice, according to a report.
News
January 15, 2021
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.
News
January 14, 2021
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.
News
January 07, 2021
“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.
News
December 21, 2020
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.
News
November 01, 2020
Capital raised for the Sentinel fund will be used to purchase oil and gas royalties in the Permian Basin, Eagle Ford Shale, Haynesville Shale, and Barnett Shale, all located in the State of Texas where Bellatorum has a proven track record of success.
News
November 12, 2020
The price to drill an acre of land in the biggest U.S. shale basin has tumbled amid the oil rout, creating conditions ripe for more mergers and acquisitions.
News
November 11, 2020
The Houston-based company announced a target to reach net zero emissions from its own operations by 2040 and an ambition to do the same from customers’ use of its products by 2050, CEO Vicki Hollub said during a conference call with analysts on Tuesday.
News
November 09, 2020
The Texas Railroad Commission's action made changes to the application for flaring exceptions, reducing exception time and providing incentives to use technical alternatives to gas flaring.
News
November 02, 2020
As the U.S. presidential election cycle nears its final chapter on Tuesday, and Tuesday evening, we at World Oil think it’s appropriate to remind our fellow professionals in the U.S. oil and gas industry what is at stake.
News
October 30, 2020
Despite increased drilling activity and strong Q3 results across the board for the supermajors, Exxon Mobil spent the week slashing headcount and planning major asset sales to meet its dividend commitments.
News
October 30, 2020
Exxon is confronting one of its biggest crises since Saudi Arabia began nationalizing its oilfields in the 1970s. If the company takes the full $30 billion impairment, it will be the industry’s worst in more than a decade.
News
October 22, 2020
There are several ways Biden could halt fracking on federal lands using executive power. He could ban new oil and gas leases, halt new permits, or seek a specific regulatory ban on fracking, all of which Biden has telegraphed at one point or another on the campaign trail.
News
October 21, 2020
“There’s only going to be three or four independents that are investable by shareholders” after the recent market rout, Pioneer CEO Scott Sheffield said on a conference call with analysts. “The best companies have been picked off the past few weeks.”
News
October 20, 2020
Pioneer Natural Resources Co. is in discussions to buy rival Parsley Energy Inc. in an all-stock deal that could be finalized by the end of the month, according to a person familiar with the matter. Pioneer is run by Scott Sheffield, while his son Bryan is Parsley’s founder and chairman.
News
October 20, 2020
Concho Resources Inc., an early explorer of the Permian basin’s once-coveted oil riches that was worth $32 billion just two years ago, is selling for $9.7 billion in stock. ConocoPhillips is paying a meager 15% premium over Concho’s closing price on Oct. 13, the last trading session before Bloomberg News first reported the companies were in talks.
News
October 19, 2020
“The pace of activity declines in the international markets is slowing, while the North America industry structure continues to improve, and activity is stabilizing,” Halliburton CEO Jeff Miller said in a statement.
News
October 19, 2020
The combination Conoco and Concho will be one of the dominant operators in the Permian Basin of West Texas and New Mexico, rivaling only the likes of Occidental Petroleum Corp. and Chevron Corp. in terms of crude output.
News
October 14, 2020
The potential combination would be the latest sign that long-expected consolidation in the shale patch has finally arrived. A purchase of Concho, which has an enterprise value of $12.3 billion, could become the year’s largest takeover of an oil and gas company.
News
September 28, 2020
The combination will create one of the biggest independent shale producers in the country, tying together two companies with sizable operations in the hottest part of the prolific Permian Basin, which straddles West Texas and southeastern New Mexico.
News
September 25, 2020
While Canada's leaders promise measures to protect oilfield livelihoods, shale drillers in the U.S. are working to minimize the impacts of a potential Biden victory.
