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LIVE: Permian Highlights Discussed Online by Rextag (Hart Energy) Data Experts
11/18/2019
Amazingly how this West Texas area has gradually become the top global oil and gas producing region within the last decade. A spike in production in early 2010s was followed by the acreage rush with lease prices showing 10-fold increase and more than that. Having successfully endured through the drastic price recession of 2014 and following years, Permian producers have continued to improve their technologies driving break-even costs down.
Today with production volume of over 4 million barrels / day Permian produces more than the second largest global oil field, Saudi Arabia's mighty Ghawar. As production keeps increasing, the issue that is becoming most critical in Permian is transportation and possible transportation bottlenecks. New pipeline projects are being built, yet the takeaway capacity of the Permian remains under close examination of industry experts and producers.
This time again Peggy Williams, Vice President/Editorial Director and Reinold (Rey) Tagle Senior Vice President of Data Services will discuss the Permian key metrics in detail.
This 30-min online webinar reviews oil & gas production highlights from the Permian unconventional play using Rextag's Energy DataLink™ premiere data web app.
The speakers analyze historical production and trends, look at major producers, and key midstream players. The research covers decline curves, completion reports and other important points of analysis.
If you want to obtain selected PDF reports and maps used in the webinar, please contact us at akovalenko@hartenergy.com.
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
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Vital Energy Expands Permian Basin Footprint with New Working Interest Acquisitions
Vital Energy, an independent energy firm, recently expanded its holdings in the Permian Basin by purchasing additional working interests in prime production assets for approximately $55 million. These newly acquired assets were originally part of a larger transaction involving Henry Energy, Moriah Henry Partners, and Henry Resources.
Kinetik Holdings recently announced a series of transactions in the energy sector. They struck a deal to buy Durango Permian infrastructure for $765 million. At the same time, they're selling their 16% share in the Gulf Coast Express Pipeline to ArcLight Capital Partners for $540 million. The total purchase cost includes $510 million in cash paid immediately and an additional $30 million that will be paid later, depending on whether they decide to expand further.
Recently, the Permian has seen significant acquisitions: Exxon Mobil purchased Pioneer Natural Resources for about $60 billion. Diamondback Energy's $26 billion deal to acquire Endeavor Energy Resources is currently on hold due to requests from the U.S. Federal Trade Commission. Occidental’s acquisition of CrownRock for $12 billion in the Midland.
EOG Resources is pushing boundaries in Ohio's Utica oil play and now drilling on the Sable pad, also located in Noble County. This site features the 3.7-mile lateral currently under construction. The company's first multi-well pads in the area Timberwolf and Xavier have each produced over 200,000 barrels of oil since their inception—Timberwolf in August and Xavier in October. A third site, the four-well White Rhino pad in Noble County, is also showing promising early results, according to Keith Trasko, EOG’s Senior Vice President of Exploration and Production, who noted the wells are performing as expected in their initial weeks.