Permian Resources bolsters dominance in the Delaware Basin with strategic land acquisitions, expanding its portfolio by over 5,000 net leasehold acres and 3,000 royalty acres. In a stunning display of growth and strategic maneuvering, Permian Resources Corp., based in Midland, Texas, has made waves in the first quarter by securing a series of deals worth over $200 million in the highly sought-after Delaware Basin. This move solidifies their position as a player in the region.

The Williston Basin, which spans parts of North Dakota, Montana, Saskatchewan, and Manitoba, is a major oil-producing region in North America. In order to transport crude oil and natural gas from the wells to refineries and other destinations, a vast pipeline infrastructure has been built in the area. The pipeline infrastructure in the Williston Basin consists of a network of pipelines that connect production sites to processing facilities, storage tanks, and major pipeline hubs

Matador Resources Co. is making a big move in the oil and gas industry by acquiring Advance Energy Partners Holdings LLC, a major player in the northern Delaware Basin. The acquisition, which comes with a hefty price tag of at least $1.6 billion in cash, includes valuable assets in Lea County, N.M., and Ward County, Texas, as well as key midstream infrastructure.

Following the success of FireBird Energy's $1.75 billion sale to Diamondback last year, the emergence of FireBird II signals a new chapter in the Permian Basin. Get ready for some exciting news from the energy industry. FireBird Energy II, the new player in the Permian Basin, has just secured $500 million in equity funding to fuel their acquisitions. With backing from the esteemed private equity firm Quantum Energy Partners, FireBird Energy II is poised to make waves in the industry.

Ovintiv Strikes Billion-Dollar Oil Deal, Doubling Production in Permian Basin with EnCap's Black Swan, PetroLegacy, and Piedra Resources. The deal, which was approved unanimously by Ovintiv's board, is slated to close on June 30. With over $5 billion in transactions announced on April 3, Ovintiv is set to expand its oil production by snatching up 65,000 net acres in the core of the Midland Basin. The deal with EnCap will give them a strategic edge in Martin and Andrews counties, Texas, with approximately 1,050 net, 10,000-ft well locations added to their inventory.

In a big move for Riley Permian, the company has just closed a deal to acquire top-of-the-line oil and gas assets in the heart of New Mexico. The acquisition, which was made in February, saw Riley Permian snapping up these highly sought-after resources from none other than Pecos Oil & Gas LLC for $330 million.

Energy Transfer's recent acquisition of Lotus Midstream's infrastructure for $1.45 billion is a remarkable feat that is bound to shake up the energy industry. This strategic move grants Energy Transfer access to the highly prized Centurion Pipeline, as well as an additional 3,000 miles of crude gathering and transportation pipelines. These pipelines span across the vast Permian Basin of West Texas, stretching all the way from New Mexico and culminating at the bustling energy hub of Cushing, Oklahoma.

Baytex Energy Group has announced that it will acquire Eagle Ford exploration and production company, Ranger Oil, for approximately $2.5 billion in cash and stock, which includes taking over the company's existing debt. Upon the successful closure of the acquisition, Baytex will have a controlling stake of approximately 63% in the newly merged company, leaving Ranger shareholders with around 37%. This significant move is in line with a trend of substantial mergers and acquisitions in the Eagle Ford area, with Marathon Oil, Devon Energy, and Chesapeake Energy among the companies involved in recent transactions.

Harvest Midstream, a Hilcorp affiliate, is set to acquire three midstream gathering systems that serve the Bakken, as well as system located in the Eagle Ford. Harvest, an affiliate of Hilcorp Energy Corp, has entered into an agreement to purchase three Bakken midstream gathering systems and one in the Eagle Ford from Paradigm. Paradigm is set to sell these midstream assets to Harvest in the near future.

Baytex Energy, a Canadian oil and gas company, has announced its acquisition of Ranger Oil, an Eagle Ford operator based in Texas, in a deal worth $150 million. The acquisition will accelerate Baytex's shareholder returns and introduce a dividend with enhanced free cash flow.

Enbridge acquired Tres Palacios natural gas storage facility in Texas for $335 million, adding approximately 35 Bcf of natural gas storage to their portfolio. The facility uses salt caverns for storage and has a gas header pipeline system that spans 62 miles and links to 11 major gas pipelines. Crestwood Equity Partners LP intends to divest its interests in Tres Palacios by the second quarter.

The U.S. natural gas pipeline network is a complex system of pipelines that transport natural gas from production areas to consumers across the country. The pipeline network consists of three main types of pipelines: gathering pipelines, transmission pipelines, and distribution pipelines. Gathering pipelines are small-diameter pipelines that transport natural gas from production wells to processing facilities or larger transmission pipelines. Transmission pipelines are large-diameter pipelines that transport natural gas over long distances, sometimes across multiple states. Distribution pipelines operate at low pressure and are located in or near urban areas. They are often referred to as "utility pipelines" because they are typically owned and operated by local gas utility companies.

Shareholder’s payout target was increased by 50% after the largest U.S. independent oil producer surpassed Wall Street’s earnings estimates on growing energy prices, said Houston-based Conoco Phillips Co. on Aug. 4. Due to Western sanctions on major producer Russia throttling energy supply amid a rebound in demand from pandemic lows, oil and gas #prices have soared. Crude has been trading more than 25% higher since the start of the year and results also benefited from high natural gas prices. Meanwhile, shares were down a fraction, to $91.03, in early trading but are up about 26% year to date. Conoco Phillips stated, that the average price obtained for a barrel of oil and gas accelerated 77% from a year earlier to $88.57. The company acknowledges that it has not hedged any of its oil and gas sales to make the most of higher market prices. The capacity of 1.69 million boe/d was in line with Wall Street estimates, however, the company expected the current quarter’s output would be between 1.71 million and 1.76 million boe/d.

Crescent Energy closed the acquisition of Uinta Basin assets in Utah that were previously owned by EP Energy for $690 million, a few hundred million dollars below the original price. The accretive deal increases Crescent's Rockies position and adds significant cash flow and a portfolio of high-quality oil-weighted undeveloped sites. In addition to its acquired Uinta assets, Crescent's pro forma year-end 2021 provided reserves totaled 598 million boe, of which 83% was developed, 55% was liquid, and its provided PV-10 was $6.2 billion.

Canada is looking at ways to increase pipeline utilization to boost crude exports as Europe seeks to reduce its reliance on Russian oil At the moment, oil exports from Canada to the U.S. are approximately 4 million barrels of oil per day, with a portion reexported to other countries. At the end of 2021 Canadian oil companies exported a record amount of crude from the U.S. Gulf Coast, mostly to big importers India, China, and South Korea. And this will only increase in the future.

The future of shale is looking bright: economic recovery and a spike in travel lifted oil prices to multi-year highs, helping Continental Resources to a fourth-quarter profit that exceeded Wall Street expectations. Coming off such a high note, the company plans to increase its dividend rates by 15% to 23 cents per share!

Enbridge Inc. finally delivered on several of its long-overdue promises, including the $4 billion Line3 Replacement project. Which consisted of replacing an existing 34-inch pipe with a new 36-inch one for 13 miles in North Dakota, 337 miles in Minnesota, and 14 miles in Wisconsin. Midstream companies, in general, had a stunning Q3. It was the first quarter in two years that no midstream index members cut their dividends.

Ironwood Midstream expanded its operations in the Eagle Ford region through its merger with Nuevo Midstream. Thanks to this, Ironwood II has increased its crude oil and natural gas throughput capacities in the famous shale to approximately 400,000 bbl/d and 410 MMcf/d, respectively. With 390 miles of pipelines, the company manages 245,000 acres of dedicated land.

Comstock Resources decided to go through with asset divestment, selling its Bakken Shale actives for $150M to Northern Oil and Gas. The proceeds from these sales will be reinvested by Comstock Resources Inc. into the Haynesville Shale, at which point the company may acquire additional leasehold and fund drilling activities starting in 2022. Meanwhile, Northern clearly gunning for the pack leading position in the Texas shale play, but whether they succeed or not is remains to be seen.

Penn Virginia announced a rebranding to Ranger Oil on 6 Oct. following the close of the Lonestar acquisition. This Texas oil & gas giant reinvents itself anew, shifting its energy development in the lone star state towards safer and more efficient oil and gas operations. The company's consolidated assets now amount to over 140,000 net acres strategically positioned in the Eagle Ford play of south Texas, making it one of the biggest players. It is anticipated that the full rebranding will be complete by the year-end of 2021. For the full rundown of the situation visit our blog.

Forecast: Bank of America expects to see a major bump in US crude oil production in 2022. Such growth from a non OPEC member will impact world oil market balances in times of tight supplies. Still, crude prices should hold well above $70/bbl next year and could, potentially, jump as high as $100/bbl. By 2022, oil output is expected to grow by 800,000 bbl/d, and more than half of that growth will come from #privately-held producers. For a more in-depth analysis of the forecast check out our blog.

Pioneer Natural resources is looking to divest properties in the lone star state. According to Rextag, Pioneer’s Delaware assets on sale have a trailing 12 month production of just over 22 MBOE against a total Permian Basin production of almost 212 MBOE. (The sale, if it happens, will effectively lead to a 10% decrease of Pioneer’s asset base in terms of the previous year's production.)

As you know the US Oil Rig Count has dropped by over 20% from January to December 2019. In Texas we saw oil rigs count dropping over 30% in that same time frame.

Nuevo Midstream will add 100 miles of gathering pipeline in Gonzales, Lavaca, and Dewitt counties to its Eagle Ford assets.

U.S. Shale Breakevens now at $50 instead of $68/bbl. Pipeline management (field and maintenance data), as well as new projects introduced lower operation costs and provide path to future industrial success.

The execution of these additional agreements boosts further total committed volumes. Read details. See it on a map.

A total capacity for the area is as high as 8,576,325 Bcd according to Rextag count

Export Opportunities For Permian’s and Takeaway Problem

Canadian debates over pipeline continue. The debates involve the operator company, state and local authorities, communities and minorities.