Tap Rock News Today

The basin is deeper, gassier, more geologically complex and more remote than the Midland Basin to the east. But the Delaware is too sweet of a prize to pass up for many of the nation’s top oil and gas producers.

The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.

Approximately 60% of total investments are planned to be allocated to the Permian basin, with the remainder to the DJ basin. Civitas expects to drill and complete 130 to 150 gross wells in the Permian basin and 90 to 110 gross wells in the DJ basin.

2024 Outlook Focused on Free Cash Flow and Cash Returns to Shareholders; Production Guidance Maintained with 7% Reduction in Capital ...

Permian Basin well productivity has trended down. Top-tier drilling locations are scarce. Capital is at a premium. E&Ps need low-cost inventory and scale, and they’re willing to pay big bucks to get them.

By value, Occidental Petroleum’s Dec. 11 deal for CrownRock, combined with other private-equity exits, totaled about $30 billion in 2023.

Operator: Ladies and gentlemen, thank you for standing by. My name is Bhavish, and I will be your conference operator today.

Today's featured Forty Under 40 honoree is Ryan Springmeyer, the CFO at Tap Rock Resources.

‘Forty Under 40’ honorees represent rising stars selected from across the energy spectrum.

The acquisition will add approximately 44,000 net acres in the Midland Basin to Civitas portfolio.