Parsley Energy Inc., Austin, has agreed to acquire undeveloped acreage and producing oil and gas properties in Glasscock County, Tex., along with associated mineral and overriding royalty interests, for $400 million in cash. Expected to close on or before Oct. 4, the deal will be financed through debt and equity issuances. Source: News
MARKET WATCH: NYMEX oil price for September approaches $46/bbl
The light, sweet crude oil price for September delivery climbed $1.25 on the New York market Aug. 15 to $45.74/bbl, marking the highest front-month contract price since July 15. Oil prices have gained for three consecutive sessions on both the New York and London markets. Source: News
Concho to expand Midland basin acreage in $1.6-billion deal
Concho Resources Inc. has agreed to acquire 40,000 net acres with an average 99% working interest in the core of the Midland basin of West Texas from Reliance Energy Inc. for $1.625 billion. Source: News
EIA: Permian oil output to rise 3,000 b/d in September
The Permian held out roughly a year before joining the other major US shale regions in crude-oil production declines during the current downturn. Now, after a string of losses, growth from the West Texas and southeastern New Mexico basin is expected again by the US Energy Information Administration. Source: News
Schroer adds role of treasurer at Concho Resources
Brenda R. Schroer, currently vice-president and chief accounting officer at Concho Resources Inc., Midland, Tex., has assumed the additional role of treasurer. Source: News
Stephen Williamson succeeds brother as TD Williamson CEO
Stephen Williamson has taken the role of chief executive officer of TD Williamson, a Tulsa-based pipeline and services company. He succeeds his brother, Richard B. Williamson, who retired this month. Source: News
Parnell joins Parsley Energy as vice-president, engineering
Larry Parnell has joined Parsley Energy Inc., Austin, as vice-president, engineering, effective July 26. Source: News
Keep Alaska sales in 5-year OCS plan, Murkowski urges BOEM director
US Sen. Lisa Murkowski, (R-Alas.), strongly urged US Bureau of Ocean Energy Management Director Abigail Ross Hopper to preserve all three oil and gas lease sales proposed for Alaska when BOEM finalizes its 2017-22 US Outer Continental Shelf program. The senator’s request came during an Aug. 12 face-to-face meeting in downtown Anchorage, as Hopper neared […]
Petrobras reports 30% drop in net profits for second quarter
Petroleo Brasileiro SA (Petrobras) reported a second-quarter net profit of $118 million, down 30% from last year’s net profit in the same period, largely attributed to impairment charges related to its Comperj refinery project outside Rio de Janeiro. Source: News
Bill Barrett to pick up DJ basin development program
Bill Barrett Corp., Denver, will resume its extended reach lateral (XRL) development program in the Denver-Julesburg basin during the third quarter. Source: News