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permian basin

permian basin

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

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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

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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-Same-Sex-Benefits

Exxon secures more Permian Basin fields

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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

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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

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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

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

WPX Energy agrees to buy Permian producer for $2.35 billion

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WPX will also assume $400 million in debt, according to a statement today.
A spinoff of National Oilwell Varco announced plans to buy a company that supplies the energy industry with pipes, valves and fittings.

Oil rig count grows again after gains in the Permian

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Five oil rigs were added this week in the U.S., although gas and miscellaneous rigs dipped by four, leaving a net gain of one rig for the week, according to data from oil services provider Baker Hughes.
Noble Energy hunts for oil offshore Israel in the Tamar field. The Houston-based oil company has stalled its Israel investments after a dispute with the country's anti-trust regulators. (Noble Energy)

Noble outflanked a pair of rivals to secure Rosetta deal, docs show

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Noble Energy outbid at least two other companies interested in buying Rosetta Resources by sweetening its offer and agreeing to pay a higher premium for the smaller independent producer than the other firms were willing to spend, newly released regulatory filings reveal.
(Spencer Platt/Getty Images)

U.S. shale production set to fall again in July, EIA says

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Daily oil production at the nation’s six biggest shale plays is set to slip by 91,000 barrels from June to July, the Energy Information Administration says.