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permian basin

Over thirty oil drilling rigs are idle in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, as rig counts drop in the Permian Basin, Monday, May 18, 2015. (Courtney Sacco/Odessa American via AP)

Nine U.S. oil rigs sidelined this week, Baker Hughes says

The U.S. Energy Information Administration estimates domestic crude production declined by 120,000 barrels a day in September and projects it will fall to an average 8.86 million barrels a day next year from this year’s peak of 9.6 million barrels a day in April.
Report: Oil falling, but Eagle Ford, Bakken output on the rise

TPH: Production from Big Three shale plays will suffer with $50 oil

The lingering crude slump is expected to drive down production next year in the nation’s premiere oil patches — West Texas’ Permian Basin, South Texas’ Eagle Ford and North Dakota’s Bakken shale.
Exxon Mobil Corp. signage is displayed at a gas station in Richmond, Kentucky, U.S., on Wednesday, April 29, 2015. Exxon Mobil Corp. is scheduled to release earnings data on April 30. Photographer: Luke Sharrett/Bloomberg

Exxon said to be on the hunt for West Texas shale bargains

Stung by the 58 percent plunge in U.S. oil prices since June 2014, many drillers face stark choices: shut down rigs to conserve capital and wait out the bust, or surrender some independence to a deep-pocketed savior in exchange for a shot at a future windfall.

Carbo Ceramics idles another proppant plant

Houston-based oil field services firm Carbo Ceramics closed another one of its proppant plants as demand for its products dries up amid waning oil field activity.
permian basin

W&T Offshore to sell Permian assets for $376 million

W&T Offshore has agreed to sell its stake in a West Texas oil field to a private equity start-up company for $376 million, the latest oil deal geared toward supporting a seller’s financial books amid cheap oil prices.
The 29-week plunge in the oil rig count takes a break

U.S. rig count grows again despite the price of oil still dropping

The U.S. oil rig count increased by six this week, largely buoyed by more rigs added in Texas’ Permian Basin, according to according to Baker Hughes, which tracked 29 weeks of decline in the count until July 2, when oil companies began sending rigs back to oil fields in Texas and elsewhere.

Exxon secures more Permian Basin fields

The Irving, Texas-based oil and gas giant said the two deals include a farm-in agreement and an acquisition adjacent to XTO’s existing acreage in Martin and Midland Counties.
(Photo by Eddie Seal for Bloomberg News)

Eagle Ford Shale tops Texas list of top crude, gas producers

Communities in the Eagle Ford Shale in South Texas topped the state’s list of the top oil- and natural gas-producing counties in June, according to data released this week by the Texas Railroad Commission. Karnes County continues to pump more crude oil than any other county, with nearly 6.8 million barrels produced in June.
(AP file photo/Reed Saxon)

Occidental saving money, pumping it back into Permian Basin

Occidental Petroleum Corp.’s profits fell 85 percent in the second quarter as lower oil prices offset its surge in crude production from the Permian Basin in West Texas and elsewhere.
(Ken Childress/Rosetta Resources)

Rosetta boosts output as board approves merger with Noble

Rosetta Resources extracted more petroleum than expected in the second quarter, adding to analysts optimism that the company’s assets remain a good buy.