Texas upstream news
Occidental sells Permian Basin acreage to Colgate Energy Partners affiliate
The US$508 million transaction includes approximately 25 000 net acres in the Southern Delaware Basin in Texas.
Independence Energy and Contango Oil & Gas to merge
The new company is expected to produce 108 000 to 114 000 boe/d in 2022, with adjusted core earnings between US$750 million and US$800 million.
Delmar Systems acquires Vryhof
The combined company will continue as Delmar Systems and as Vryhof.
TGS and Halliburton collaborate on seismic reservoir monitoring
The alliance will provide operators with advanced insight to determine their reservoir potential for oil and gas production or carbon storage.
732 original drilling permits issued in Texas in April
The Railroad Commission of Texas issued a total of 732 original drilling permits in April 2021 compared to 456 in April 2020.
ExxonMobil records US$2.7 billion profit in 1Q21
Exxon recorded 1Q21 earnings of US$2.7 billion, compared with a loss of US$610 million in 1Q20.
Enteq Upstream appoints new CEO
The company has appointed commercial director Andrew Law as CEO, succeeding Enteq founder Martin Perry.
Argos platform arrives in Texas for BP's Mad Dog 2 project
Once online at BP's US$9 billion Mad Dog 2 project, Argos, a semi-submersible, floating production platform, will be the company’s fifth operated platform in the Gulf of Mexico.
Rig trial of integration of MPD and automated well control technology completed
A series of tests were successfully performed on a Weatherford test rig in Houston, US, to demonstrate and verify the integration and functionality of the managed pressure drilling and automated well control technology.
US oil and gas deal value fell 88% in 1Q21, according to report
Enverus' summary of 1Q21 US upstream M&A activity shows US$3.4 billion in deal value was transacted during the quarter – an 88% decline from 4Q20.