With 57 wells already in one "row" development, Coterra Energy has 16 more underway, plus rigs at work on two more mega-DSU developments totaling 90 wells.
Civitas Resources is adding Midland Basin production and drilling locations for 300ドル million. To offset the purchase price, Civitas set a 300ドル million divestiture target "likely to come" from Colorado’s D-J Basin, executives said.
An initial SM Energy test made 250,000 boe in its first eight months online. Vital Energy is reporting more than 150,000 gross boe per 10,000 ft of lateral in its first-six-month output.
Occidental Petroleum is exploring upside in the Permian’s secondary benches, including deeper Delaware Wolfcamp zones and the Barnett Shale in the Midland Basin.
Double Eagle IV ramped up oil and gas production to more than 120,000 boe/d in November 2024, Texas data shows. The E&P is one of the most attractive private equity-backed M&A targets left in the Permian Basin.
For oil and gas, big M&A deals will probably encounter less resistance, tariffs could be a threat and the industry will likely shrug off "drill, baby, drill" entreaties.
The Permian Basin’s core is in full-scale manufacturing mode, with smaller intrepid operators pushing the basin’s boundaries further and deeper.
The Patch’s maturity will be tested in 2025 amid ongoing consolidation and geopolitical dissonance.
Exxon is lowering drilling and completion costs, boosting EURs by 15% with custom proppant and considering upside from less developed Permian Basin zones.
Novi Labs President and Co-Founder Jon Ludwig gives insight on how AI and machine learning allow diverse applications for oil and gas operations and less risk for cataclysmic failure, in this Hart Energy Exclusive interview.
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