Articles tagged Powder River Basin

Multi-basin exploration and production firm EOG Resources Inc. is maintaining its natural gas activity as it looks toward better demand dynamics next year, management said in its 2Q2024 earnings call.

Permits to develop natural gas and oil in the Lower 48 slumped in August, with the biggest operating area, the Permian Basin, off by double-digits from July and 12% year-to-date. 

The latest Wyoming oil and natural gas lease sale garnered $13.2 million for more than 35,700 acres in the Powder River and Green River basins, and at least two more quarterly lease sales are planned. 

Western Midstream Partners LP (WES) has signed a deal to acquire privately held Meritage Midstream Services II LLC in an all-cash, $885 million transaction. 

The Bureau of Land Management (BLM) and Wyoming officials have proposed updating the state’s sage grouse core area protection map as the bird’s population has steadily improved.

It’s a good time to be in the natural gas gathering and processing (G&P) business, particularly in oil-weighted basins such as the Permian, Powder River and Williston, according to Crestwood Equity Partners LP CEO Robert Phillips.

Nearly 3,000 permits were issued in February to explore for U.S. oil and gas, a slight increase from January but down nearly 9% from a year ago, according to state and federal data.

EOG Resources Inc., a multi-basin exploration and production firm, said its strong fourth quarter and full-year 2022 results were powered by robust natural gas and oil demand, price spikes and steady production activity.

August natural gas and oil permitting across the Lower 48 reversed course from July, particularly in the Permian Basin, but activity still was higher than a year ago, according to data compiled by Evercore ISI.

After a series of acquisitions, Crestwood Equity Partners LP is now in “harvest mode,” with a focus on generating strong growth in the core areas of the Williston, Permian Delaware and Powder River basins, management said.