Delaware Basin – Page 5

Matador Resources Prices $210 Million Common Stock Offering; Cash Will Expand Delaware Basin Ops

October 5, 2017

Matador Resources Company (ticker: MTDR) priced an underwritten public offering of 8,000,000 shares of its common stock. The total estimated gross proceeds of the offering, before estimated offering fees and expenses, are approximately $210.8 million. The offering is expected to close on October 10, 2017. Matador said it intends to use the net proceeds from the offering: to fund the aggregate purchase price for

Western Delaware Basin: Greenfield Gas Processing Project Coming Just in Time

October 5, 2017

Delaware more gassy than first thought: Producers Midstream’s new gas processing capacity, targeting operations in Q1 2018, will be able to process up to 260 MMcf/day of production Privately held Producers Midstream, LP (PMLP) announced plans to install a new natural gas gathering system and up to 260 MMcf/day of cryogenic processing capacity in the Western Delaware basin through the

Magellan Midstream’s New Permian Pipeline

September 8, 2017

Magellan Midstream Partners, L.P. (ticker: MMP) announced this week that it will build a 60-mile, 24-inch pipeline that connects Wink and Crane, TX. The pipeline’s price tag will be approximately $150,000,000. The pipeline should be operational midway through 2019, the company said in a press release. The new pipeline will serve direct service from the Delaware basin to the Crane

Exclusive Video Interview with Rosehill Resources President & CEO Alan Townsend

September 5, 2017

Rosehill Resources: pure Delaware basin with 4,700 acres in the ‘core of the core’ in Loving County At its recent 2017 The Oil & Gas Conference®, EnerCom’s Oil & Gas 360® conducted an exclusive video interview with Delaware operator Rosehill Resources (ticker: ROSE) President & CEO Alan Townsend. Rosehill is 100% focused on growing production and reserves in the core

anadarko-600w Chevron, Anadarko Megadeal Portends Billions in Asset Divestment - Oil & Gas 360

Anadarko Q2: Permian Growing, GOM Production will Maintain through 2019

July 26, 2017

With its second quarter reporting, Anadarko Petroleum Corp. (ticker: APC) reported an average production of 631,000 BOEPD and said it reduced its investments by $300 million for the year. In its Delaware basin assets, Anadarko’s oil production averaged 33,000 BOPD—a 52% increase from its Q2 production in 2016. The company’s 2017 guidance was revised down from 235 to 239 MMBOE

Ameredev II Assembling Prime, Contiguous Acreage in Northern Delaware Basin

July 18, 2017

Ameredev II, backed by a $400 million private equity commitment from EnCap, is currently in the process of building its core acreage in the northern Delaware basin in Lea County, New Mexico. The acreage itself rests along the state line. Ameredev is targeting to initiate production in its acreage in late 2017-early 2018, when it starts drilling delineation wells. In

The Shale Boom in the Permian Is Slowing Down - 360

Halcon Shrinks Williston Footprint to Become Full-On Delaware-Focused Operator

July 12, 2017

Halcon Resources sells operated Williston assets for $1.4 billion Houston-based Halcon Resources Corp. (ticker: HK) announced Tuesday that the company sold its operated assets in the Willison Basin to an affiliate of Bruin E&P Partners, a portfolio company of Arclight Capital Partners, for $1.4 billion in cash. The company said it will keep its non-operated assets in the basin, although

Is the Permian Getting Too Hot to Touch?

June 19, 2017

High acreage costs beginning to affect economics in the Delaware The Permian has enjoyed a rush of capital since oil prices began to recover from a low of $26.21 in February of last year. The play is home to some of the best economics in the country, making it a prime target for E&P companies looking to maximize profit in

Permian’s Largest Private Processor Secures $250 Million for Delaware Expansion

May 2, 2017

Expanding in the Delaware: Magnetar Capital’s $250 million commitment targets growth of Lucid Energy’s Delaware basin system Lucid Energy Group of Dallas will be adding up to $250 million worth of expansion to the 930 MMCF of natural gas processing capacity and 3,600 miles of pipeline assets it has in the Permian basin, the company announced Tuesday. Alternative asset manager Magnetar

PDC Energy (ticker: PDCE) CEO Bart Brookman rang the Nasdaq opening bell today in celebration of PDC’s 40 years trading on Nasdaq.

PDC Energy Celebrates 40 Years on Nasdaq

April 19, 2017

PDC Energy (ticker: PDCE) CEO Bart Brookman rang the Nasdaq opening bell today in celebration of PDC’s 40 years trading on Nasdaq. The company had numerous executives on site for the occasion at the Nasdaq MarketSite in Times Square. PDCE: a thumbnail PDC started off in Bridgeport, West Virginia, in 1969 as Petroleum Development Corporation. The company was focused on shallow

Is the Delaware Losing its Allure?

April 17, 2017

High per-acre costs make turning a profit in the Delaware more difficult Capital has rushed into the Permian as oil prices stabilize and operators look for the best acreage possible. The majority of that capital has been focused in the Delaware Basin where layers of stacked pay have made acreage extremely attractive, and the cost per acre significantly higher than

The Best Acquisitions Are Not All in the Permian: a Comparison of 4 U.S. Deals

March 14, 2017

Markets reward companies making good transactions, but sometimes even the Permian can’t move the needle The most recent downturn in oil and gas prices has forced the industry to find the most economic acreage available in order to generate returns and attract investors. It’s no secret that for many companies, that has meant buying Permian acreage, particularly the stacked zones

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