Articles tagged permian

The U.S. natural gas rig count fell by one unit to 97 for the week ending Friday (Aug. 23), according to updated data from Enverus and Baker Hughes Co. (BKR).

Lower 48 oil and gas permitting requests increased in March, up 26% over February, according to a compilation of federal and state data compiled by Evercore ISI.

The Permian Basin remains its largest growth market, but with natural gas supply and demand dynamics shifting, Louisiana will surpass Oklahoma to become EnLink Midstream LLC’s second largest segment this year, according to management. 

The aggregate value of mergers and acquisitions (M&A) in the Permian Basin has surpassed $100 billion this year with the recently announced $12 billion takeover by Occidental Petroleum Corp. (Oxy) of CrownRock LP, eclipsing the previous record of $65 billion set in 2019, according to new analysis by Wood Mackenzie. 

Mexico is poised to play an increasingly prominent role in the global natural gas market, driven by internal demand and the LNG export projects planned for the country’s Pacific and Atlantic coasts.

The world’s largest publicly operated oil and natural gas company is continuing to remake itself as it stacks up more resources to develop and looks beyond traditional energy to prepare for the future, ExxonMobil CEO Darren Woods said Friday.

LM Energy Holdings LLC is aiming to sell parts of its crude oil gathering business in the New Mexico portion of the Permian Basin to help fuel a focus shift to natural gas.

Natural gas futures floundered at first on Monday, hindered by autumn-like weather. As the session wore on, though, traders shifted attention to production that remains below recent highs as well as predictions for another lean storage increase.

Permian Basin pure-play Vital Energy Inc. is snapping up a bevy of assets concentrated in West Texas through a transformational deal worth an estimated $1.67 billion.

Investment firm Peak 10 Energy Holdings LP made its inaugural acquisition of assets in the Permian Basin’s Eastern Shelf, expanding its position as it snaps up and works with operators to develop Lower 48 oil and natural gas assets.