High and volatile oil prices for the next five years, BofA forecasts
Brent oil prices average $60-80 per barrel until 2027, BofA Global Research has said in a new report, suggesting high prices are here to stay – at least in the medium term.
Permian Basin
$100 oil could unlock 2.2 million bpd tight oil surge, says Rystad
Analysis by Rystad Energy suggests a prolonging of current prices could unlock up to 2.2 million barrels per day (bpd) of US tight oil by next year.
Chevron profit falls short of forecasts despite oil’s rally
Chevron posted disappointing profits after slumping values for some long-held fields hurt the oil giant’s ability to take full advantage of surging energy prices.
ADC Energy bags largest US onshore contract with major operator
ADC Energy has bagged its largest US onshore project to date to deliver rig inspection services for a major operator’s fleet in the Permian Basin.
Pioneer to buy DoublePoint in $6.4bn Permian deal
Pioneer Natural Resources Co. is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the U.S. Permian Basin.
Exxon SEC probe highlights concerns over inflated shale reserves
The Securities and Exchange Commission has been largely silent on the financial wreckage of the U.S. shale industry in recent years, but that may be about to change.
Drilling Down: Drilling permit activity slows down amid record low oil prices
Drilling permit activity is slowing across Texas as oil prices crash to near $20 per barrel.
America’s days as net oil exporter are numbered amid price rout
America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to world’s biggest producers.
ExxonMobil aims to keep dominant status in Texas shale
The oil major Exxon Mobil is not planning to give up its status as the top driller in Texas.
Callon, Carrizo drill up to last minute of merger vote
Callon Petroleum and Carrizo Oil & Gas are drilling right up to the last minute of a controversial Nov. 14 merger vote between the two companies.
New study blames some Permian Basin earthquakes on fracking
A new study from the University of Texas at Austin is blaming hydraulic fracturing activity on some earthquakes in the Permian Basin of West Texas.
Drilling Down: Independents versus majors in Permian Basin
There’s a showdown brewing out in the Permian Basin, one pitting large independent exploration and production companies against oil majors.
California company seeks to build $1bn refinery in Permian Basin
A California company is seeking to build a $1 billion refinery that will make gasoline and diesel near the Permian Basin town of Kermit.
Epic Pipeline on schedule to move Permian crude in Q3
San Antonio pipeline company Epic Midstream Holdings remains on schedule to begin moving crude oil from West Texas' Permian Basin to the Port of Corpus Christi by this fall.
Permian shale companies pledge $100M to West Texas, New Mexico
Seventeen energy companies operating in West Texas' booming Permian Basin said they're pledging more than $100 million to help improve roads, schools, health care, housing and workforce training.
Report: More than $90 billion in deals made in Permian Basin since 2013
The Permian Basin has been the hottest shale play in the U.S. for years, according to a new report.
Permian Basin mothers missing out on shale boom to cover childcare
The West Texas sun is still hours away from rising, but the line at the First Presbyterian Church in Midland is already forming.
Lilis Energy moves to Houston, grows in Permian
Lilis Energy moved its headquarters from San Antonio to Houston this month as the oil producer aims for stability under a new chief executive and growth in West Texas' booming Permian Basin.
As Permian booms, ConocoPhillips focuses on Eagle Ford
Houston's ConocoPhillips is bucking the trend of churning as much oil out of the booming Permian Basin as possible, instead focusing on less crowded areas like South Texas' Eagle Ford shale.
Permian Basin challenging to become world’s largest oil patch
The Permian shale play is all about setting records. Now, the region may even become the world’s largest oil patch over the next decade.
Permian Basin dominates another rig count jump
West Texas' Permian Basin single-handedly accounted for another jump in the number of rigs actively drilling for petroleum in the U.S.
Riverstone completes sale of Permian Basin business
Riverstone Holdings said today that it had completed the sale of Three Rivers III, an Austin-based oil and gas company focused on the Permian Basin.
Texas-sized gas conundrum emerges in America’s busiest oil field
A pipeline shortage that’s leaving gas trapped in West Texas’ Permian Basin means prices for the fuel there are the lowest of any major U.S. hub, wresting that distinction from Appalachia’s Marcellus Shale. Prices for Permian gas, produced alongside oil in the play, have tumbled 30 percent from a year ago, while output rose to a record.
Nostra Terra makes third Permian Basin acquisition
Norstra Terra today confirmed it has made its third acquisition in the the Permian Basin.
ExxonMobil adds 22,000 acres to Permian Basin portfolio
Oil and gas operator adds ‘stacked oil pay zones’ in the Delaware and Midland Basin areas to its growing acreage within the Permian base.