Permian Basin
Oil and gas production, drilling activity, and infrastructure in the Permian Basin.
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Latest Permian Basin Stories
Devon Energy wins $2.6 billion lease sale in Permian Basin
Devon Energy secures $2.6 billion in leases during a government auction for tracts in New Mexico and Texas. The auction raised a total of $4 billion for government coffers, highlighting strong interest in the Permian Basin.
ConocoPhillips increases Permian basin capex by up to $500 million for 2026
ConocoPhillips plans to increase its capital expenditure in the Permian basin by up to $500 million for 2026. Executives state that this decision is aimed at safeguarding efficiencies rather than making a significant price prediction.
Battalion Oil contracts additional sour gas compression capacity in Permian basin
Battalion Oil has contracted additional sour gas compression capacity in the Monument Draw area of the Permian basin. This expansion will support current production levels and facilitate future drilling activities.
Ovintiv reports strong Q1 2026 results in Permian Basin
Ovintiv's Q1 2026 results show strong operational performance in the Permian and Montney regions, with 54 wells drilled year-to-date. The company reports significant debt reduction and successful integration of the NuVista acquisition, focusing on free cash flow.
SM Energy drills 65 wells in the Permian Basin post-Civitas merger
SM Energy drilled 65 wells in the Permian Basin year-to-date, with 37 in the Midland Basin and 28 in the Delaware Basin. The company's drilling activity is supported by Helmerich & Payne and Ensign rigs, focusing on operational scale and free cash flow growth.
Permian Basin evolves into global energy powerhouse at TCU Symposium
At the TCU Global Energy Symposium 2026, Diamondback Energy leaders discussed the transformation of the Permian Basin into a leading oil region due to shale innovation and advanced drilling technologies. The discussion also emphasized the impact of AI, automation, and increased data center power demand on natural gas production opportunities.
Danos expands through acquisitions in the Permian Basin
Danos, an oilfield services company, is pursuing a growth-through-acquisition strategy in the Permian Basin, focusing on companies with similar values and operations. The company aims to diversify while remaining primarily within the oil and gas sector, emphasizing careful integration of acquired firms. Danos identifies succession planning and the build-and-sell model as key reasons for companies to sell.
Burckhardt Compression appoints Álvaro Grande as Head of Services in Permian Basin
Burckhardt Compression (US) Inc. appoints Álvaro Grande as Head of Services to enhance maintenance support for compressor operators. BCCK names Mark Shaffer as Director of Business Development/Gas Processing to drive growth in gas processing. Danos promotes Melanie Hill to Vice President of Land Production Services to advance shale strategy in key regions.
SoftVest and Blackbeard Holdings propose business combination with Permian Basin Royalty Trust
SoftVest and Blackbeard Holdings announced a proposed business combination involving the Permian Basin Royalty Trust. The transaction aims to create a new NYSE-listed company that will acquire PBT's assets and Blackbeard's US Land Guild, which includes 66,500 acres of surface estate and a 15% royalty interest. The deal is designed to modernize PBT's structure and enhance cash flow predictability for unitholders.
Permian Basin gas prices reach record lows for May flow
Bidweek prices for May flow in the Permian Basin gas market have dropped significantly, entering negative territory. This marks a record low for the region, indicating severe market pressures.
Court approves modifications to Permian Basin Royalty Trust Indenture
The 96th District Court of Tarrant County approved modifications to the Permian Basin Royalty Trust's Indenture. The changes eliminate the requirement for 75% approval for certain amendments and allow amendments by a majority vote of unitholders. These modifications were requested by SoftVest, L.P., a unitholder of the Trust.
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