By Tyler Losier, Energy Reporter, Oil & Gas 360 Newly-formed Desert Peak Minerals to be largest pure-play mineral royalty company in Delaware Basin Kimmeridge Energy Management Company, a private equity firm focused on acquiring unconventional oil and gas assets, has entered into a definitive agreement with Desert Royalty Company to combine the two companies’ assets to form Desert Peak Minerals.
Shortages of sand, pipelines, and manpower could jeopardize America’s future as an energy superpower At 10:30 p.m. on an 85F August night in Penwell, in West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in the forecourt of an abandoned truck stop. The song Free Bird by Lynyrd Skynyrd blares from the radio. “I’m making
Longhorn Midstream Launches Open Season for the Touchdown Crude Oil Gathering System in the Northern Delaware Basin
From the Deseret News SALT LAKE CITY — Signers inked a historic agreement Thursday at the Governor’s Energy Summit, potentially opening up natural gas markets for Western states and the Ute Indian Tribe by looping in the Wyoming Pipeline Authority. The potential to get cleaner liquefied natural gas to overseas markets could be a financial boon to struggling rural counties
From THE ASSOCIATED PRESS HOBBS, N.M.—Two New Mexico counties remain among the top oil-producing counties in the U.S., according to new federal numbers. Data from the U.S. Energy Information Administration shows that Lea County was the No. 2 oil-producing county in January behind North Dakota’s McKenzie County, The Hobbs News-Sun reported. Lea County produced 14.6 million barrels of oil in January while McKenzie
CEOs rank Texas at the top, California at the bottom Chief Executive magazine has published its newest list of the best and worst states for business. Texas ranked Number One—again. California is Number 50—again. In the executive summary of its findings, the magazine quoted a consultant as saying: ” ‘the Chief Executive ranking … reflects what decision-makers are saying. And it’s what
From the Ruidoso News New Mexico captures a greater share in oil and gas revenue than eight other western oil and gas-producing states in a comparative analysis compiled by the New Mexico Tax Research Institute and Moss Adams released Thursday. “New Mexico obtains the greatest percentage of total oil and gas production value directly contributing to government revenue when compared to eight other
Makes DJR the largest acreage holder in San Juan Basin core oil window Yesterday, privately held Denver-based DJR Energy closed on its acquisition of Encana Corporation’s (stock ticker: ECA) non-core San Juan Basin assets in northern New Mexico. Source: DJR Energy The asset includes: Approximately 182,000 net acres, representing Encana’s total land position in the play. Average production of
EOG Resources (ticker: EOG) reported its Q3 results Thursday, and held its earning call today. Highlights from the Q3 Results include: Raised 2018 Capex Guidance Range to $5.8-$6.0 billion. Third quarter 2018 net income of $1.2 billion, or $2.05 per share. Q3 operating revenues/other of $4.8 billion. To read the complete earnings release, please refer to this link. Heard on the call Chairman
The rapid growth of oil production from shale combined with returning GOM production have succeeded in making the United States the leading crude oil producer in the world. The U.S. set a new record for daily oil production at 11.3 MMBOPD in August 2018, according to new data from the EIA. Thanks largely to U.S. shale, the fast-growing production from
Houston-based Lilis Energy (ticker: LLEX), an independent oil and gas E&P company in the Delaware Basin (west Texas and southwestern New Mexico), announced yesterday it closed a new five-year senior credit revolving loan facility. The maximum borrowing amount is $500 million, with an initial borrowing base of $95 million. The initial borrowing base can be expanded in the future. According
Price for New Mexican water: $93 million NGL Energy Partners LP (ticker: NGL) has purchased another Permian Basin ranch, adding 9.6 million barrels of annual fresh water rights to its Permian Basin water portfolio. NGL said it bought the 36,000-acre Beckham Ranch, which sits atop the Carlsbad, Capitan, and Jal Water Basins located in southeastern Lea County. In July NGL bought the McCloy Ranch, located in Eddy and Lea Counties, New
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