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.
Danos expands through acquisitions in the Permian Basin
Danos, an oilfield services company, is pursuing a growth-through-acquisition strategy in the Permian Basin, focusing on companies with similar values and operations. The company aims to diversify while remaining primarily within the oil and gas sector, emphasizing careful integration of acquired firms. Danos identifies succession planning and the build-and-sell model as key reasons for companies to sell.
SM Energy drills 65 wells in the Permian Basin post-Civitas merger
SM Energy drilled 65 wells in the Permian Basin year-to-date, with 37 in the Midland Basin and 28 in the Delaware Basin. The company's drilling activity is supported by Helmerich & Payne and Ensign rigs, focusing on operational scale and free cash flow growth.
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.
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.
Permian Basin evolves into global energy powerhouse at TCU Symposium
At the TCU Global Energy Symposium 2026, Diamondback Energy leaders discussed the transformation of the Permian Basin into a leading oil region due to shale innovation and advanced drilling technologies. The discussion also emphasized the impact of AI, automation, and increased data center power demand on natural gas production opportunities.
Burckhardt Compression appoints Álvaro Grande as Head of Services in Permian Basin
Burckhardt Compression (US) Inc. appoints Álvaro Grande as Head of Services to enhance maintenance support for compressor operators. BCCK names Mark Shaffer as Director of Business Development/Gas Processing to drive growth in gas processing. Danos promotes Melanie Hill to Vice President of Land Production Services to advance shale strategy in key regions.
Court approves modifications to Permian Basin Royalty Trust Indenture
The 96th District Court of Tarrant County approved modifications to the Permian Basin Royalty Trust's Indenture. The changes eliminate the requirement for 75% approval for certain amendments and allow amendments by a majority vote of unitholders. These modifications were requested by SoftVest, L.P., a unitholder of the Trust.
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