The ongoing bullish trend in oil prices continues to support exploration and production activities. Upstream operators are expected to expand their operations in prolific shale regions, leading to an increase in the number of drilling rigs. As drilling activities ramp up, production is anticipated to rise, positively impacting companies engaged in exploration and production. This […]
Tag: Permian
Energy Transfer to Buy Permian Operator WTG for $3.3 Billion
(Bloomberg) — Energy Transfer LP agreed to buy WTG Midstream in a $3.25 billion deal that will expand the US pipeline giant’s already sprawling network in the Permian Basin. Most Read from Bloomberg Energy Transfer will pay $2.45 billion in cash and about 50.8 million newly issued Energy Transfer common units to acquire the Midland, […]
3 Permian Explorers Poised to Gain as Oil Prices Stay High
The persistent bullishness in oil prices is fostering increased exploration and production endeavors. It is anticipated that upstream companies will broaden their activities in the prolific shale resources, resulting in a surge in the deployment of drilling rigs. With the escalation in drilling operations, production is poised to rise in domestic resources such as the […]
City Bank and the Literacy Coalition of the Permian Basin host Miss Texas 2024
May 17—City Bank and the Literacy Coalition of the Permian Basin have announced that Ellie Breaux, Miss Texas 2024, will be touring the Permian Basin to emphasize the critical importance of literacy and education. This tour will include visits to various schools and community organizations, with a key event at 4:45 p.m. Monday, May 20, […]
Occidental explores sale of Permian assets worth over $1 billion, sources say
By Shariq Khan and David French May 3 (Reuters) – Occidental Petroleum is exploring a sale of a part of its operations in the Permian Basin that could fetch more than $1 billion for the energy producer, according to people familiar with the matter. The company’s divestment effort is linked to Occidental’s broader plan to […]
Permian Basin Gives set for May 21
May 2—How much difference can a $10 donation make to an area nonprofit? When given as part of Permian Basin Gives — a one-day annual event to encourage individual donors to make a bigger impact by giving at the same time — the impact can be huge. This year’s Permian Basin Gives is set for […]
PSP launches groundbreaking fire preparedness initiative in Permian Basin
Mar. 12—MIDLAND — The Permian Strategic Partnership (PSP) revealed Tuesday its commitment to enhancing fire training in the region by investing $300,000 for advanced training courses and facility upgrades in partnership with The Seminole Volunteer Fire Department and The Andrews Volunteer Fire Department. $200,000 is allocated for courses offered by Texas A&M Engineering Extension Services […]
Diamondback Energy Will Buy Permian Rival Endeavor For $26 Billion
Diamondback Energy (FANG) on agreed to buy privately held Endeavor Energy Resources on Monday for $26 billion including debt, creating a new Permian Shale giant and the latest in a flurry of big recent energy deals. FANG stock rose modestly. X Diamondback will pay 117.3 million FANG shares and $8 billion cash for Endeavor, founded […]
Permian Basin Consolidation To Continue In 2024 Following Moves By Warren Buffett And Exxon Investor’s Business Daily
Energy industry consolidation ramped up at the tail-end of 2023, lending a rising sense of urgency to ownership of U.S. shale oil supplies. Exxon Mobil (XOM) and Warren Buffett-backed Chevron (CVX) and Occidental Petroleum (OXY) all made hefty acquisitions to shore up production, primarily in the U.S. All eyes are now trained on the resource-rich […]