Prolific oil and natural gas production – particularly in Eddy and Lea counties that sit atop the Permian Basin – is driving a record-breaking revenue year for New Mexico, according to a recent New Mexico Legislative Finance Committee report. As New Mexico Oil and Gas Association Executive Director Ryan Flynn told EID: “A historic expansion
Read More...Occidental Petroleum, continues to tinker with its offer to buy Anadarko Petroleum, late Sunday putting a revised bid in front of the independent producer, offering mostly cash as it looks to wrest its prey from Chevron, Kallanish Energy reports. Oxy is still offering to buy Anadarko for $76 a share, but would now pay 78% in
Read More...Increased natural gas consumption has generated a truly incredible story for the environment as U.S. greenhouse gas emissions have fallen to their lowest levels since 1992. But the air quality improvements go even further, as a new Energy In Depth analysis shows: The U.S. oil and gas industry is also making incredible progress in reducing
Read More...Houston-based independent producer Callon Petroleum said Monday it’s entered into a deal to sell certain non-core assets in the Midland Basin to an unnamed buyer for $260 million in cash. The agreement also provides for potential incremental cash payments of up to $60 million based upon future commodity prices with upside participation starting at the $60/Bbl West Texas Intermediate level,
Read More...ExxonMobil has held talks on the sale of a number of oil and gas fields in Nigeria, as the company focuses on developments in the U.S.’s Permian Basin and Guyana, industry and banking sources told Reuters. The potential sales are expected to include stakes in onshore and offshore fields and could raise up to $3
Read More...Just two months after the New York Times reported that Texas and New Mexico’s Permian Basin could surpass Saudi Arabia’s Ghawar oilfield to become the highest producing oilfield in the world in the next three years, data released this week provided a new take: It already did. Now we know the Permian basin is now
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