midland basin – Page 2 – Oil & Gas 360

Earthstone Energy Makes $950 Million Acquisition of EnCap Portfolio Company

October 17, 2018

Earthstone Energy (ticker: ESTE) has entered into an agreement with Sabalo Holdings, LLC in which Earthstone will acquire all of Sabalo Holdings’ interests in Sabalo Energy, LLC and Sabalo Energy, Inc., whose assets include both producing and non-producing oil and gas assets in the northern Midland Basin. Sabalo is a privately-held oil and gas company based in Corpus Christi, Texas

Delaware Basin Wolfcamp Formation is Thicker by Thousands of Feet: USGS

October 5, 2018

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

Callon Callon Petroleum Company Announces Closing Of Southern Midland Basin Divestiture And Updates 2019 Guidance Oil & Gas 360

Private Funds Launch New Midland Basin Oil Company

June 12, 2018

Newly formed DoublePoint Energy LLC holds one of the largest private land positions in the core of the Midland Double Eagle Energy Holdings III of Ft. Worth and Denver’s FourPoint Energy have formed DoublePoint Energy LLC, a new pure-play Midland Basin company with more than 70,000 acres in Midland, Glasscock, Martin, Howard, Upton and Reagan Counties. The assets of the new company are a combination of Double Eagle’s existing Midland Basin acreage

Earthstone Energy Makes Executive Promotions

April 2, 2018

Midland Basin operator Earthstone Energy, Inc. (ticker: ESTE) has initiated three executive promotions. Robert J. Anderson has been promoted to president of the company, effective immediately. Anderson has served as Earthstone’s EVP Corporate Development and Engineering since 2014. Anderson, a petroleum engineer, served in a similar capacity with Oak Valley Resources, LLC from March 2013 until the closing of its

Callon Petroleum Expands Horizontal Drilling Operations, Running 5 Rigs, 2 Completions Crews in the Permian

March 2, 2018

Callon Petroleum Company (ticker: CPE) reported results of operations for the three months and full-year ended December 31, 2017. Financial and operational highlights Full-year 2017 production of 22.9 MBOE/d (78% oil), an increase of 50% over 2016 volumes Fourth quarter 2017 production of 26.5 MBOE/d (79% oil), a sequential quarterly increase of 18% Year-end proved reserves of 137.0 MMBOE (78%

EnerCom Dallas Conference Presenter: Earthstone Energy, Inc.

January 12, 2018

Earthstone Energy, Inc. (ticker: ESTE) will present at the EnerCom Dallas investment conference Feb. 21-22, 2018 at the Tower Club in downtown Dallas. Earthstone Energy is an independent company that develops and operates oil and gas properties primarily in the Midland Basin of West Texas, the Eagle Ford trend of south Texas and the Williston Basin of North Dakota. The

A $5.5 Billion Private Giant in the Midland: Endeavor Energy Resources

January 5, 2018

At 44.1 MBOEPD, Endeavor Energy Resources is a private name which stands large in the Midland Basin The Permian Basin continues to be the hottest basin in the country, with companies piling in and investors willing to give them premium multiples. The play has become so desirable that general reading about the industry often feels like you’re sifting through “Permian

Earthstone Energy Completes Bakken Assets Sale

December 21, 2017

Early today Earthstone Energy, Inc. (Ticker: ESTE) completed the sale of its Bakken assets. According to the company’s press release, the assets were sold to an unaffiliated party for about $27 million in cash. The effective date of the transaction is December 1, 2017. Earthstone Energy plans to use the proceeds from this transaction to pay down debt under its

The Shale Boom in the Permian Is Slowing Down - 360

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

Parsley Closes $2.8 Billion Midland Acquisition

April 21, 2017

Permian-focused Parsley Energy (NYSE: PE) closed the acquisition of undeveloped acreage and producing oil and gas properties in the core of the Midland Basin from Double Eagle Energy Permian LLC for an aggregate purchase price of approximately $2.8 billion, consisting of approximately $1.4 billion in cash and approximately 39.8 million units of Parsley Energy, LLC (together with a corresponding number of shares of

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

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