From November 8 to December 17, 2023, there were seven recorded earthquakes in Culberson and Reeves counties, near Guadalupe Mountains National Park.
Amid Increasing Earthquakes, Texas Forces Reduction in Fracking Disposal
U.S. drilling day rates end slide
U.S. drilling day rates appear to have turned the corner, moving higher in November across all the Enverus Day Rate Survey’s seven regions amid cautious optimism as 2024 approaches. The U.S. composite rate rose $58 to $23,679 from October after sliding $840 over the previous five months.
Williams expands natural gas operations in $2 billion deal
Williams announced that it has reached an agreement to acquire a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion.
e-frac’s Benefits and Challenge’s
electric hydraulic fracturing has proven to be a lower-cost, quieter and more environmentally friendly alternative to traditional diesel and dual-fuel equipment.
US oil production shatters records, surpassing Trump-era levels.
The United States is preparing for a significant increase in oil production. Recent reports from S&P Global Commodity Insights reveal a staggering prediction: 13.3 million barrels per day of crude and condensate during the fourth quarter of this year, making history.
Anadarko basin oil production to slip in January
The Energy Information Administration reported production of crude oil in December averages 392,000 barrels a day but in January, it is expected to decline to 389,000 barrels a day.
US oil production hits record high with fewer rigs drilling more wells
From west Texas and eastern New Mexico north to North Dakota, oil producers are increasing their production from fewer rigs. The ramped-up production is more than what the analysts expected and now it’s at a record pace. This is a result of drilling rigs spudding on average of 2 more wells per year.
Battalion Oil Corporation Announces Acquisition By Fury Resources, Inc.
Battalion Oil Corporation (NYSE American: BATL) (“Battalion” or the “Company”) announced today that it had entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Fury Resources, Inc. (“Buyer” or “Parent”), pursuant to which Parent will acquire all of the outstanding shares of Common Stock of the Company (the “Common Stock”), for $9.80 per share in cash (the “Merger Consideration”), which represents a total transaction value of approximately $450 million.
Rockcliff Energy to be Acquired by TG Natural Resources
Rockcliff Energy II LLC, (“Rockcliff”), a portfolio company of Quantum Energy Partners (“Quantum”), today announced the entry into a definitive agreement with TG Natural Resources LLC (“TGNR”), in which TGNR will acquire 100% of the membership interests in Rockcliff for US$ 2.7 billion, prior to customary adjustments (the “Transaction”).
Callon Reportedly Mulls Options Amid Buyer Interest
Permian Basin explorer Callon Petroleum Co. is considering strategic options amid takeover interest from rival oil and gas players, according to Bloomberg News, as dealmaking accelerates in the U.S. energy industry.