Permian Basin
Oil and gas production, drilling activity, and infrastructure in the Permian Basin.
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Latest Permian Basin Stories
Devon Energy wins $2.6 billion lease sale in Permian Basin
Devon Energy secures $2.6 billion in leases during a government auction for tracts in New Mexico and Texas. The auction raised a total of $4 billion for government coffers, highlighting strong interest in the Permian Basin.
Ovintiv reports strong Q1 2026 results in Permian Basin
Ovintiv's Q1 2026 results show strong operational performance in the Permian and Montney regions, with 54 wells drilled year-to-date. The company reports significant debt reduction and successful integration of the NuVista acquisition, focusing on free cash flow.
Matador Resources promotes executives in the Permian Basin
Matador Resources Company promoted Christopher P. Calvert to Executive Vice President and Chief Financial Officer and Glenn W. Stetson to Executive Vice President and Chief Operating Officer, effective April 21. Expand Energy Corporation appointed Marcel Teunissen as Chief Financial Officer, while BCCK named Erin Wiersma as Manager of Business Development. These personnel changes reflect ongoing growth and leadership transitions in the Permian Basin's oil and gas sector.
Permian basin supports over 940,000 jobs and drives $366 billion economic impact by 2050
The Permian basin supports more than 940,000 jobs and is projected to generate approximately $366 billion in gross product impact by 2050. It accounts for over 44% of active drilling rigs in the U.S. and is expected to contribute $114 billion to the U.S. balance of trade in 2025. The region's economic growth is supported by investments from the Permian Strategic Partnership, totaling approximately $215 million since 2019.
Chlorine dioxide restimulation enhances Permian basin well performance
Chlorine dioxide (ClO2) restimulation in a 10-well trial in the Permian basin led to a 76% increase in flowing bottom-hole pressure and improved recovery factors. Although ClO2 produced less oil than refracture stimulations, it offered a faster payback and approximately 2.7 times higher ROI due to lower costs. The treatment effectively broke down buildup in wells, enhancing overall performance.
SoftVest and Blackbeard Holdings propose business combination with Permian Basin Royalty Trust
SoftVest and Blackbeard Holdings announced a proposed business combination involving the Permian Basin Royalty Trust. The transaction aims to create a new NYSE-listed company that will acquire PBT's assets and Blackbeard's US Land Guild, which includes 66,500 acres of surface estate and a 15% royalty interest. The deal is designed to modernize PBT's structure and enhance cash flow predictability for unitholders.
International companies expand operations in the Permian Basin
International companies are establishing operations in the Permian Basin, with Automated Wellhead Compression expanding its services and connections. The company focuses on vapor recovery and compliance with emissions regulations, facing challenges due to midstream capacity. Ro-Flo, a Wisconsin-based compressor manufacturer, is partnering with AWC to provide specialized compressors for high H2S and vapor recovery applications.
Oil and gas price surge benefits producers and traders in the Permian Basin
The recent rise in oil and natural gas prices has primarily benefited low-cost exploration and production companies in the Permian Basin, particularly those with unhedged production. While producers are capitalizing on higher prices, commodity trading firms have also seen significant gains due to market volatility. However, oilfield service companies are experiencing slower growth as producers remain cautious about expanding drilling activities.
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