Spraberry Trend

Civitas Resources Adds Accretive Bolt-on in Permian Basin

Retrieved on: 
Wednesday, October 4, 2023
Oil, Gas, Energy, Permian, Heart, NYMEX, MDT, DJ, EDT, Public expenditure, Civitas, Henry Hub, CIVI, Acquisition, Spraberry Trend, Free cash flow, NYSE, IRR, Total, Bank, Vitol

Increases Permian Basin scale, balancing Civitas’ portfolio between premium Permian and DJ positions: The Acquisition will add approximately 44,000 net acres in the Midland Basin and current production of approximately 62 Mboe/d (approximately 50% oil).

Key Points: 
  • Increases Permian Basin scale, balancing Civitas’ portfolio between premium Permian and DJ positions: The Acquisition will add approximately 44,000 net acres in the Midland Basin and current production of approximately 62 Mboe/d (approximately 50% oil).
  • Pro forma for the Acquisition, Civitas’ 2024 estimated Permian production is expected to be about 170 Mboe/d (approximately 50% oil).
  • Pro forma for the Acquisition, Civitas will have more than 1,200 high-quality oil development locations in the Permian Basin.
  • “In recent months, we have created a quality, scaled position in the heart of the Permian Basin.

Verde Bio Holdings, Inc. Announces Acquisition in Oil Rich Permian Basin

Retrieved on: 
Wednesday, February 9, 2022
Permian, Private Securities Litigation Reform Act, Federal Lands Jobs and Energy Security Act, GLOBE, U.S. Securities and Exchange Commission, Spraberry Trend, Securities Act of 1933, OTC, Ovintiv, Anadarko Basin, Acquisition, Company, Annual report, Risk, Security (finance), Uncertainty, CEO, Securities Exchange Act of 1934, OTCQB, Mineral, Haynesville Shale, Bank, Oil

The interests are in Howard County, Texas, and are operated by Ovintiv, Inc. f/k/a Encana, which holds a significant acreage in the region.

Key Points: 
  • The interests are in Howard County, Texas, and are operated by Ovintiv, Inc. f/k/a Encana, which holds a significant acreage in the region.
  • We continue to execute on our business plan of acquiring a portfolio of diversified, revenue producing, high-quality assets, said Scott Cox, Verde Bio Holdings Founder and CEO.
  • With oil hovering around $90/barrel and the strong level of activity in the Permian Basin, we are particularly excited about this acquisition and adding to our existing portfolio of great assets in the Permian Basin.
  • Verde Bio Holdings, Inc. (OTC: VBHI), is a growing U.S. Energy Company based in Frisco, Texas, engaged in the acquisition and development of high-growth mineral rights and select non-operated working interests in premier U.S. basins.

Verde Bio Holdings, Inc. Announces Acquisition of Permian Basin Mineral and Royalty Interest

Retrieved on: 
Wednesday, April 21, 2021
Geology of the United States, Geography of the United States, Prehistory of North America, Geology of Texas, Permian Basin, Haynesville Shale, Spraberry Trend, Anadarko Basin, XC2, Ovintiv, Midland, Texas, Anadarko

b'FRISCO,\xc2\xa0TEXAS, April 21, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Verde Bio Holdings, Inc. (OTC:\xc2\xa0VBHI), a growing oil and gas Company, today announced that it has closed on the acquisition of revenue producing mineral and royalty interests in the prolific Permian Basin of Texas, held by\xc2\xa0a private seller for a purchase price of\xc2\xa0$430,000 in cash.

Key Points: 
  • b'FRISCO,\xc2\xa0TEXAS, April 21, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Verde Bio Holdings, Inc. (OTC:\xc2\xa0VBHI), a growing oil and gas Company, today announced that it has closed on the acquisition of revenue producing mineral and royalty interests in the prolific Permian Basin of Texas, held by\xc2\xa0a private seller for a purchase price of\xc2\xa0$430,000 in cash.
  • Today\xe2\x80\x99s announcement brings the total number of acquisitions to thirteen for Verde to date.
  • Ovintiv has a large position in the Permian, specifically in the prolific, oil-rich Midland Basin in Texas where their primary focus is on the development of the Spraberry and Wolfcamp formations.
  • Verde currently owns producing mineral, royalty and over-riding royalty interests in the DJ Basin of Colorado and Wyoming, the Haynesville Shale of Louisiana, the Anadarko Basin of Oklahoma, the Delaware and Permian Basin of Texas and the Marcellus and Utica shales in West Virginia.

Worldwide Shale Oil Industry to 2026 - North America to Dominate the Market - ResearchAndMarkets.com

Retrieved on: 
Monday, March 22, 2021
Oil, Gas, Energy, Geology of the United States, Geology of Texas, Spraberry Trend, Shale oil extraction, Petroleum industry, Permian Basin, Shale gas in the United States, Oil shale economics

This aids the growth of shale oil industry in the nation by providing an incentive to invest in shale oil production.

Key Points: 
  • This aids the growth of shale oil industry in the nation by providing an incentive to invest in shale oil production.
  • Growth in the petrochemical industry is expected to increase the consumption of shale oil thereby aiding the growth of shale oil market.
  • The Permian basin is the largest source of shale oil in the United States with Spraberry (TX Permian) field being the most productive shale oil field.
  • Hence, North America is expected to dominate the market due to overwhelming production of shale on the continent and further increase in the investment in the sector.

Permex Petroleum Corporation Announces Permian Basin Oil and Natural Gas Royalty Acquisition

Retrieved on: 
Thursday, February 4, 2021
Geology of the United States, Geology of Texas, Spraberry Trend, Geography of the United States, Permian Basin, Petroleum industry, Barrel, Apache Corporation

Vancouver, British Columbia--(Newsfile Corp. - February 4, 2021) - Permex Petroleum Corporation (CSE: OIL) (OTCQB: OILCF) ("Permex" or the "Company)" is pleased to announce the purchase of various producing royalty interests in (10) Horizontal oil and natural gas wells and one permitted well located in Upton County, Texas.

Key Points: 
  • Vancouver, British Columbia--(Newsfile Corp. - February 4, 2021) - Permex Petroleum Corporation (CSE: OIL) (OTCQB: OILCF) ("Permex" or the "Company)" is pleased to announce the purchase of various producing royalty interests in (10) Horizontal oil and natural gas wells and one permitted well located in Upton County, Texas.
  • The oil and natural gas wells are within the Spraberry field of the Permian Basin and have produced an average of approximately 10,243 barrels of oil per day ("BOPD") and 7,707 million cubic feet of gas per day ("MCFPD") over the past five (5) month reported period.
  • The operator on file is and will continue to be Apache Corporation of Houston, Texas.
  • "We are excited to start this year with a new business strategy to complement our existing operations in Texas and New Mexico.

Outlook on the Shale Oil Global Market to 2025 - Featuring Exxon Mobil, Chevron and Royal Dutch Shell Among Others - ResearchAndMarkets.com

Retrieved on: 
Monday, November 9, 2020
Oil, Gas, Energy, Geology of the United States, Geology of Texas, Petroleum production, Spraberry Trend, Shale oil extraction, Permian Basin, Prehistory of North America, Shale gas in the United Kingdom, Shale gas in the United States

This aids the growth of shale oil industry in the nation by providing an incentive to invest in shale oil production.

Key Points: 
  • This aids the growth of shale oil industry in the nation by providing an incentive to invest in shale oil production.
  • Moreover, the share of shale oil in transportation and power generation has been reducing due to better and cleaner alternatives replacing it in the market.
  • Growth in the petrochemical industry is expected to increase the consumption of shale oil thereby aiding the growth of shale oil market.
  • The Permian basin is the largest source of shale oil in the United States with Spraberry (TX Permian) field being the most productive shale oil field.

Encore Green Environmental Announces By-Product/Produced Water Project in Permian Basin

Retrieved on: 
Wednesday, August 7, 2019
Geology of the United States, Geology of North America, Geology of Texas, Permian Basin, Midland, Texas, Spraberry Trend, Petroleum

The announcement is made in Midland, Texas, at the Permian Basin 2019 conference hosted by the Produced Water Society.

Key Points: 
  • The announcement is made in Midland, Texas, at the Permian Basin 2019 conference hosted by the Produced Water Society.
  • The Permian Basin is oil rich and has even been called, 'The New Saudi Arabia' because of its vast oil yet to be drilled.
  • However, out of the oil wells comes 3 to 6 barrels of by-product/produced water for every 1 barrel of oil.
  • This volume of water is a challenge in all oil producing areas, but the extreme amounts of by-product water in the Permian has brought it to crisis proportions.

SM Energy Provides First Quarter Update And Announces Participation At IPAA Conference

Retrieved on: 
Thursday, March 21, 2019
Spraberry Trend, SM Energy, Natural gas, Companies, Economy of the United States

DENVER, March 21, 2019 /PRNewswire/ --SM Energy Company (the "Company") (NYSE: SM) today provides certain operational updates for the first quarter of 2019 and announces participation in an upcoming investor event.

Key Points: 
  • DENVER, March 21, 2019 /PRNewswire/ --SM Energy Company (the "Company") (NYSE: SM) today provides certain operational updates for the first quarter of 2019 and announces participation in an upcoming investor event.
  • The 25-well development includes nine Lower Spraberry, 11 Wolfcamp A and five Wolfcamp B wells located across a 1.1-by-2 mile development area.
  • Although SM Energy may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
  • SM Energy Company is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in onshore North America.