Permian Basin ///

New Permian pipeline makes first delivery at Corpus Christi export terminal

Trafigura and Buckeye announced today that Trafigura has received its first delivery of Permian crude oil from Plains All American’s Cactus II pipeline at the Buckeye Texas Partners terminal in Corpus Christi, Texas.

Qatar invests $550 million in Permian midstream operator

An affiliate of Qatar Investment Authority has acquired a significant stake in Oryx Midstream Services, from an affiliate of Stonepeak Infrastructure Partners, committing to a $550 million development investment.

As shale drillers stumble, Big Oil says it can do Permian better

Exxon Mobil and Chevron aren’t fazed by the drilling mistakes and funding hurdles smaller shale producers are running into in the Permian basin.

Oxy and Ecopetrol form 97,000-acre Permian Basin development JV

Occidental and Ecopetrol entered into definitive agreements to form a joint venture to develop 97,000 net acres of Occidental’s Midland Basin properties in the Permian Basin.

Market bellwether Caterpillar tumbles amid Permian slowdown

Caterpillar Inc. shares fell after the heavy-equipment maker projected 2019 earnings at the low end of its forecast amid rising costs, declining sales in Asia and a slowdown in oil and gas spending in the prolific Permian Basin.

Vanguard emerges from Chapter 11 bankruptcy as Grizzly Energy

Vanguard Natural Resources successfully completed financial restructuring, emerging bankruptcy as a new limited liability company.

No fast exit from Permian oil for private equity, RS Energy says

Private equity has been ramping up its investment in Permian basin oil and natural gas production, but the old strategy of selling out after a few years is no more, according to RS Energy Group.

What’s going on down there?

Oscar Vasquez, Sam Young, Deep Imaging

Use of electromagnetic monitoring to image unconventional wells in shales can identify problems with well isolation and frac design.

Developer of oil, gas data services takes over operation of frac data sharing system

PDS Energy Information (PDS), a provider of secure data transfer exchange services for oil & gas drilling, completion, and production data, has announced that it has assumed commercial operation of the Frac Interference Exchange (FracX), a reciprocal data sharing network previously developed and operated by one of the largest operators in the Permian basin to coordinate hydraulic fracturing activity among producers.

Wood Mac: Growth in the Permian may spur fresh wave of infrastructure spending

Growing supply of Permian crude means the basin will need extra crude oil takeaway capacity of up to 500,000 bpd by the end of next decade, according to new research from global natural resources consultancy Wood Mackenzie.

Emerald Bay Energy Kuhn 3 well resumes production in South Texas

Emerald Bay Energy Inc. has announced that operations to enhance oil recovery from the Kuhn 3 well are complete, and the well is now back on production.

Parsley Energy says it is "attractive" for any buyer

Parsley Energy Inc. said it would be “attractive” for any potential buyer as the U.S. shale driller expects to generate positive free cash flow in the back half of this year.

Callon Petroleum closes on $245-million Midland basin divestiture

Callon Petroleum Company has announced that it closed on the previously announced divestiture of non-core assets in the southern Midland Basin to Sequitur Permian, LLC for net cash proceeds of $245 million.

Texas producers experiment, pumping gas down wells amid glut

Texas drillers may have found a solution to the stubborn natural gas glut that’s forced them to either burn it off into the air, or pay others to take it away.

Permian oil explorers expand activity as drilling costs decline

Oil explorers deployed more rigs for the first time in four weeks as shrinking drilling costs outweighed concern about sliding crude prices.

Oil giants unlikely to bail out independent drillers in the Permian

Oil giants probably won’t be buying up the Permian basin’s struggling independent drillers any time soon.

Kimmeridge Energy, PDC continue board spat after losing majority vote

Kimmeridge Energy Management fell short in its efforts to revamp the board of PDC Energy Inc. with investors in the driller opting to reelect incumbent directors.

Danos continues to win big in Permian and Delaware basins

Danos has recently entered into a contract with an independent land company based out of Dallas, Texas, to transition 50-60 crew members in a variety of positions.

Exterran makes splash in Permian with produced water contract

Exterran Corporation, a global systems and process company offering solutions in the oil, gas, water, and power markets, announces its Water Solutions business has secured a significant produced water treatment contract with a major operator in the Midland area of the Permian basin.

Oxy begins engineering the world’s largest direct air capture and sequestration plant

Oxy Low Carbon Ventures, LLC (OLCV), a subsidiary of Occidental, and Carbon Engineering Ltd. (CE), a Canadian clean energy company, has announced they are jointly proceeding with the engineering and design of the world’s largest Direct Air Capture (DAC) and sequestration facility.