WaterBridge Resources LLC Acquires Southern Delaware Produced Water Assets of Concho Resources Inc. and Commences Long-Term Produced Water Handling Contract
The USGS announced its largest-ever oil and gas assessment last week, and it’s enough oil to send 56,000 supertankers to Asia and other customers around the world. It also broke the record set by the Midland Basin in 2016. The USGS estimates the Wolfcamp Shale and Bone Spring formations in the Delaware contain 46.3 billion barrels of oil, 281 trillion
EagleClaw Midstream is now the largest pure-play, privately-held Delaware Basin midstream business, after its concurrent acquisition of Caprock Midstream Holdings and Pinnacle Midstream, which were announced today. History of planned $950 million acquisition The planned acquisition of Caprock Midstream was publicly proposed in September. EagleClaw Midstream is a portfolio company of Blackstone Energy Partners. According to its September statement,
USGS prepares new assessment of Delaware Wolfcamp From the Midland Reporter-Telegram By year’s end, Permian Basin oil and gas producers active in the Delaware Basin should have a better idea of the undiscovered, technically recoverable resources in the Wolfcamp Shale and Bone Spring formations. Stephanie Gaswirth with the U.S. Geological Survey’s Central Energy Resources Science Center, told those attending the
Carrizo places deal at $13,000 per net acre Houston’s Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) said Tuesday it will acquire Delaware Basin properties from Devon Energy Corporation (NYSE: DVN) for $215 million in cash. Carrizo said it will fund the purchase with net proceeds from an equity offering. The underwritten public offering of 9,500,000 shares of common stock was priced
Delaware Basin jumps 88% to 62 MBOEPD Anadarko Petroleum Corporation (NYSE: APC) announced 2018 Q2 results, reporting net income of $29 million, or $0.05 per share (diluted). Net cash provided by operating activities in Q2 2018 was $1.23 billion. Highlights Increased U.S. onshore oil volumes by 47% YOY Improved per-barrel margins by nearly 50% YOY Expanded West Texas infrastructure with
Oryx Midstream Services II, LLC announced today that its operating subsidiaries, Oryx Delaware Oil Gathering NM LLC, Oryx Delaware Oil Gathering TX LLC, Oryx Western Delaware Oil Gathering LLC and Oryx Delaware Oil Transport LLC (collectively, “Oryx”), have launched a joint binding open season to secure volume commitments and/or acreage dedications to support the previously-announced regional crude oil gathering and
Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or “the Company”) today announced that it has supplemented its Delaware Basin takeaway position with an additional firm sales agreement which will result in the Company’s crude oil reaching the Gulf Coast. The five-year agreement provides for firm gross sales of at least 10 thousand barrels of oil per day (MBbl/d) beginning in
RSP Permian Inc. (ticker: RSPP) posted a Q1 2018 net income of $89.6 million, or $0.57 per diluted common share. Production for the quarter increased 39% to 62.8 MBOEPD (72% oil, 87% liquids) compared to Q1 2017. Drilling The company operated seven horizontal rigs and three full-time completion crews during the first quarter of 2018 (third crew added in late
WPX Energy, Inc. (ticker: WPX) reported a net loss of $119 million, or $(0.30) per common share for the first quarter of 2018. Production for the quarter reached 102.7 MBOEPD, a 6% sequential increase over Q4 2017 and 76% higher than Q1 2017. WPX had oil volumes of 65,800 BOPD. WPX completed 36 gross operated wells (34 net) in its
Permian-based Rosehill Resources Inc. (ticker: ROSE) reported a Q4 2017 net loss of $5.3 million, or $(0.87) per diluted share. For the full year of 2017, the company reported a loss of $8.5 million, or $(1.43) per share. In 2017, Rosehill acquired 6,505 acres in the White Wolf acquisition, establishing a second core operating area in the Delaware Basin. The
Ares Management, L.P. (ticker ARES) and ARM Energy Holdings, LLC have partnered up to develop Salt Creek Midstream, LLC in the Delaware Basin. The company is owned by funds managed by the Ares Private Equity Group and ARM Energy. ARM Midstream Management, LLC, a subsidiary of ARM Energy, will serve as operator of the project. 260 MMcf/d of expandable processing
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