Permian Basin ///

Shell to sell Permian basin assets to ConocoPhillips for $9.5 billion

Shell Enterprises LLC, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its Permian business to ConocoPhillips, a leading shale developer in the basin, for $9.5 billion in cash.

EIA reports sharp decline in drilled but uncompleted shale well count

The decline in DUCs in most major U.S. onshore oil-producing regions, especially in the Permian region, reflects more well completions and, at the same time, less new well drilling activity.

Exxon pursues methane integrity grading for some of its Permian shale gas

Exxon Mobil Corp. will offer some of its Permian Basin shale gas for certification by a nonprofit that assesses methane leaks, a move that comes as the oil industry faces unprecedented pressure to clamp down on emissions.

Enbridge to expand U.S. oil export capacity with $3B Moda Midstream deal

Enbridge Inc., the Canadian pipeline giant, agreed to acquire Moda Midstream Operating LLC for $3 billion to add U.S. Gulf Coast oil export capacity. The deal will connect Enbridge with oil produced in the Permian and Eagle Ford shale basins.

Stage-level flow assurance helps refine Permian field development strategy

Deanna Callahan, Tall City Exploration III LLC; Talgat Shokanov, John Oliver, Quantum Pro, Inc.

Nanoparticle tracers provide affordable solution for sweet spot identification, frac hit avoidance and well spacing understanding.

Texas drilling permits and completions show mixed performance in August

According to figures released September 3rd by the Railroad Commission of Texas, the state’s drilling permits issued fell to their lowest level since May, while new drills hit their highest total since March.

Vaccine push spreads to Permian operators, with hefty incentives attached

Amid surging caseloads that are stressing medical facilities in West Texas, Pioneer Natural Resources Co. is offering employees a one-time vaccine incentive of $1,000, the company said in an email. Devon Energy Corp. is offering $500 to workers that show proof they took the jab by Oct. 15.

Biden’s infrastructure plan to boost Permian shale drillers and local economies

A coalition of energy companies, along with state and local partners, plans to spend $844 million on roads, education, workforce development, housing, broadband and health care in the region, according to the Permian Strategic Partnership, which assembled the group.

Texas oil regulator proposes tax credits for natural gas infrastructure

The natural gas industry should receive tax incentives similar to those provided for renewable energy projects, according to one of Texas’s top oil and gas regulators.

Callon Petroleum’s Primexx acquisition sends its shares lower

Callon Petroleum Co. failed to win over investors Wednesday after announcing its biggest-ever acquisition to bulk up in America’s most prolific shale patch.

Analyst sees Permian basin output fully recover from COVID shutdown by 2022

The Permian basin, the largest oil producing basin in the US, was the most affected play in the country during the COVID-19 pandemic times. However, production of crude oil and natural gas from this play is likely to exceed the pre-pandemic levels by 2022 amid market recovery from the pandemic, according to a leading analyst.

Shell courts multiple suitors for its $10B Permian shale portfolio

Devon Energy and ConocoPhillips are among potential suitors studying Royal Dutch Shell's portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron is also among companies considering bids for the assets, which are largely located in West Texas, the people said.

New Mexico’s Permian output rises – will a modest shale recovery follow?

New Mexico’s oil production surged to a record in May highlighting the Permian basin’s role as the shale industry sees some recovery from the pandemic.

A progressive approach: Why the Permian basin tells us all we need to know about methane emissions management

Ben Linke, Baker Hughes

Permian basin oil and gas companies are taking action and driving change—adopting technologies that not only reduce fuel and operational costs, but that also help reduce emissions and protect the planet.

Plains All American and Oryx Midstream form Permian Basin joint venture

The transaction will include all of Oryx’s Permian assets and, with the exception of Plains’ long-haul pipeline systems and certain of its intra-basin terminal assets, the vast majority of Plains’ assets located within the Permian Basin.

Gardner Denver’s new V3 valve improves performance in frac operations

Gardner Denver High Pressure Solutions has proven in field trials that its new V3 valve significantly increases performance hours in high pressure hydraulic fracturing operations.

Reveal Energy Services to commercialize ConocoPhillips’ hydraulic frac pressure diagnostic tech

Reveal Energy Services has entered into a technology licensing and development agreement to commercialize ConocoPhillips’ patented poroelastic response measurement [PRM] technology, and the companies will perform joint research and development in the PRM technology space.

ProFrac, U.S. Well Services team to reduce GHG emissions from frac fleets

ProFrac Services and U.S. Well Services, Inc. announced a license agreement to build and operate electric frac fleets using U.S. Well Services’ Nyx Clean Fleet technology. This will advance the environmental goals of the industry to reduce greenhouse emissions.

Devon Energy sets net zero 2050 emissions targets, ESG performance goals

Devon Energy announced it is establishing new environmental performance targets focused on reducing the carbon intensity of its operations, minimizing freshwater use, and engaging constructively with its value chain.

Boycott Texas oil, and Texas will boycott you, says Gov. Abbott with new law

Governor Greg Abbott signed a bill into law on Monday banning state investments in businesses that cut ties with the oil and gas industry. The underlying message, according to one of the most powerful energy regulators in the state, is simple: Boycott Texas, and we’ll boycott you.