Permian Basin
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As oil prices break through multiyear highs, the heartland of US onshore activity is nearing the record levels of output reached before the pandemic. -
ExxonMobil has drilled a horizontal well with a rig billed by Nabors as the first fully automated land rig. The big question now is whether ExxonMobil will come back for more after this three-well test.
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The US producer also closed its acquisition of assets in the Permian through a deal with Primexx. -
Lagoon becomes a multibasin player in water management while WES locks down assets that could drive future deals.
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Shell is getting out of the Permian by selling out to ConocoPhillips, which has added to its bets in the west Texas play for the second year in a row.
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The pureplay water midstream company bought the produced water infrastructure associated with Colgate’s purchase of Occidental acreage in June.
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The obsession with better hydraulic fracturing has steadily pushed on shale production in year one, but the decline remains steep. Chemistry could help explain, and perhaps extend, the short productive life of these wells.
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Canadian midstream giant adds key US oil export capacity via private-equity exit.
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Oil producers such as Exxon Mobil and Royal Dutch Shell are burning off gas in the largest oil field in the United States without required Texas state permits, the environmental group Earthworks said in a report.
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Incremental gains are not always celebrated, but as two of the biggest oil producers in the US show, they nonetheless can net unrealized savings and new efficiencies.
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The combined company will have a strengthened position in the Permian Basin, and plans to operate 17 hydraulic fracturing fleets in the region.
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Thousands of horizontal wells that had been drilled but uncompleted (DUCs) offered a way to maintain production without the cost of drilling more wells, but that resource is finally running low.
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