Permian – Page 2 – Oil & Gas 360

$Diamondback Energy eyes natural gas to electrify Permian fracing operations- oil and gas 360$

Diamondback Energy eyes natural gas to electrify Permian fracing operations

September 18, 2024

World Oil (Bloomberg) – Diamondback Energy Inc., one of the Permian basin’s biggest oil companies, is considering using some of the natural gas it produces to generate electricity to run drilling and fracing operations. Permian producers have increasingly shifted operations from diesel generators to electricity supplied by the local power grid. But the Texas grid can be unreliable at times,

Relief on the way for Permian gas takeaway

September 12, 2024

(Oil & Gas 360) – Another 2.5 bcf/d of takeaway is coming for Permian gas via the Matterhorn Express Pipeline, which is expected to be put into service just in time for heating season. According to project lead EnLink Midstream of Houston, Matterhorn is expected to deliver enough natural gas for two million homes after its 580-mile route from the

Exclusive: Ring Energy at EnerCom Denver-The Energy Investment Conference 2024

August 29, 2024

Oil and Gas 360 Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference and the Energy Transition and Emerging Technologies Series presenter replays for a limited time. Ring Energy, Inc. is a growth-oriented, independent oil and natural gas company headquartered in The Woodlands, Texas. It is focused on the acquisition, exploration and development of high-quality, oil and liquids

Permian, Bakken drilling rigs spur “record” U.S. oil production forecast on longer laterals

August 29, 2024

World Oil (Bloomberg) – Oil rigs in the Permian and Bakken basins of the U.S. are producing at the most efficient rates in about 13 years, leading Macquarie Group analysts to predict the country’s crude production will top most consensus views. Rigs in the Midland basin of Texas and New Mexico drilled an average of 47 miles of horizontal lateral

US shale companies produce more crude using fewer rigs

August 13, 2024

US shale companies produce more crude using fewer rigs

Oxy raises 2024 oil and gas production, following $10.8 billion CrownRock acquisition, Permian success

August 8, 2024

World Oil (Bloomberg) – Occidental Petroleum Corp. raised its production and capital spending plans for this year after closing its $10.8 billion acquisition of CrownRock LP earlier this month. The deal will increase Occidental’s production 5% to about 1.32 MMboed in 2024, with the extra coming from the Permian basin, the Houston-based company said in a statement Wednesday. Capital spending

U.S. oil & gas Jobs are disappearing despite record production

August 1, 2024

Oil Price U.S. oil production is breaking records, but employment numbers have dropped in five out of six months this year as operational efficiencies allow operators to continue to boost production with fewer rigs and workers, the Texas Oil & Gas Association (TXOGA) said last week in a cautionary note. Texas, home to the biggest shale basin, the Permian, has seen crude

Another world first in the Permian, natural gas to gasoline

July 26, 2024

Oil and Gas 360 Finding another way to avoid the waste and lost revenue from stranded gas in a pipeline-constrained portion of the Permian Basin could have global applications, according to two business partners in Texas interviewed in the June-July Oil and Gas Journal. Boosted by a $20 million investment by Midland-based partner and producer Diamondback Energy, Houston-based Verde Clean

Operational efficiencies drive cost excellence for U.S. onshore drilling operations, report finds

June 5, 2024

World Oil (WO) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, has released new research that analyzes which oil and gas plays show the greatest rate of increase in drilling speeds and whether well costs correlate with drilling speeds. In addition, the report looks at how well designs are affecting drilling efficiencies. “Cost reduction efforts to improve capital efficiency

$ProPetro announces agreement for FORCESM electric hydraulic fracturing services- oil and gas 360$

ProPetro announces agreement for FORCESM electric hydraulic fracturing services

April 29, 2024

Oil and Gas 360 MIDLAND, Texas–(BUSINESS WIRE)– ProPetro Holding Corp. (“ProPetro” or “the Company”) (NYSE: PUMP) has entered into a three year Hydraulic Fracturing Services Agreement (the “Agreement”) to provide electric hydraulic fracturing services to ExxonMobil in the Permian Basin. ProPetro’s Chief Executive Officer, Sam Sledge, commented, “We’re thrilled to announce a key strategic step for ProPetro as we strengthen

Matador Resources increases oil production following “surprise” Permian success in 2023

April 24, 2024

World Oil (Bloomberg) – Matador Resources Co. pumped more oil than expected in the first three months of 2024 at a time when most U.S. producers have pledged flat to moderate production growth this year. Matador also plans to hit the high end of its full-year output expectations, the Dallas-based company said in its earnings report Tuesday. The company’s production

U.S. shale drillers to reduce Permian drilling emissions, increase reliability with nuclear reactors

April 1, 2024

World Oil (Bloomberg) – U.S. oil and gas companies including Diamondback Energy Inc. are considering small nuclear reactors to power drilling operations in Texas’s Permian basin, a move aimed at cutting carbon emissions and ensuring reliable access to electricity. Diamondback, the largest independent producer headquartered in the shale-oil region, has signed a nonbinding letter of intent with Oklo Inc. to

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