(Bloomberg) – U.S. crude oil production reached the second-highest level on record in July as output from Texas’s Permian basin soared to an all-time high. The nation’s production rose to 12.991 MMbpd, the highest since […]
The Permian Basin, located in parts of Texas and New Mexico, stands as one of the most significant oil and gas producing regions in the United States and indeed the world. Its geological marvel has […]
The U.S. is predicted to break a new record in oil production this year, with current production at 12.4 million barrels per day, primarily due to increased output in tight oil and shale gas regions. […]
June 19 (Reuters) – Civitas Resources Inc (CIVI.N) is nearing a deal to acquire oil and gas operations in the Permian basin from private equity firm NGP Energy Capital Management LLC for close to $5 billion, including […]
Drilling activity continued to slump during the final week of May, led by a decline in Texas activity. Drilling is also being undercut by uncertain commodity prices and oil and gas producers’ continued focus on […]
Consider this fact: Three of every five barrels of crude oil produced in the U.S. are exported, either as crude oil or in the form of gasoline, diesel, jet fuel or other petroleum products. Sure, […]
Having returned to activity in the Permian Basin last year, Marathon Oil Corp. reports that production here is already rivaling that of the Bakken and Eagle Ford formations. Lee Tillman, who is president, CEO and chairman of […]
Oil drilling is collapsing in the US as producers rein in output, mirroring a recent plunge in rigs searching for natural gas. Rigs targeting crude declined by 11 to 575 this week, according to data […]
Matador Resources (NYSE:MTDR) and Permian Resources (NYSE:PR) have resolved Clean Air Act violations by agreeing to lower emissions of methane and other pollutants, the Environmental Protection Agency said Tuesday. Matador (MTDR) agreed to pay $6.2M in fines and […]
A sale of New Mexico’s public land to the oil and gas industry was expected in May with lands going to auction throughout the Permian Basin in the southeast corner of the state. The auction scheduled […]
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