New PB Oil and Gas Magazine has summaries on capital expenditure budgets of Chevron and ConocoPhilips. Chevron is the one alot of people are watching to see if they ever get their act together in the Permian, given they have the most acreage.
NGL Energy Partners selling their South Pecos Water assest to Waterbridge Resources for $238 million. Mostly SWD assets.
WaterBridge secures $800 million financing to develop water infrastructure it just bought.
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Construction on Gray Wolf connector oil line between Big Spring and Midland starts. BLM quarterly sale results on 86,814 acres. Natural gas coalition exceeds methane emission goal.
Bloomberg says Exxon most active driller in Permian. Quite a change.
Does this mean owners in Reeves county will get payment on this?
Just means they got financing for their buyout and to expand, so indirectly it means they may be buying additional easements.
An article about the big change to using Permian based sand. Is saving operators a lot of money.
New PB Oil & Gas Magazine has articles on: 1) Permian will provide 54% of all production growth in US in January; 2) Rig counts for 2018 were up 17% in Texas and 41% N.M. parts of Permian; 3) Permian holds 46% of 8723 DUC wells nationwide. That is a lot of wells, and shows how quickly production can increase in a good price environment. Unfortunately some have leases which don’t require a well be completed to count as a drilled well under the drilling obligations.
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Big news in the Data field. DrillingInfo is acquiring MineralSoft, one of the most sophisticated of the mineral management software platforms. DrillingInfo building up quite a monopoly in the data field.
Where did you see the DI acquiring MS news?
Got an email from MineralSoft.
New PB newsletter has these tidbits:
- Feds granted $50 million to help Permian highways and lists some specific projects in Winkler, Glasscock, and Reagan Counties;
- First contract awarded to enlarge Corpus ship channel. Key to getting bigger tankers in for oil exports.
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My brother tells me lea co nm is getting new roads 60 mill worth out in our neck of the woods 19 township section 32 very interesting completed end of 2019
MRT article says operator sentiment is for a flat year in 2019. Flat is pretty good, given the price softening and takeaway issues.
New Mexico Land commissioner wants to raise royalty cap on state lases from 20 to 25%. Given that 25% has been the norm in the Permian for 10+ years, better late than never.
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