The Permian Shale Basin is Hit by a Wave of Acquisitions
M&A activity is picking up pace in the Permian, the largest shale oil and gas basin in the United States. The M&A wave is being driven by the largest shale formation in the US as companies race to quickly rebuild their dwindling assets. Simply put, given Biden’s green policies and …
Nabors Announces World’s First Fully Automated Land Rig Has Successfully Drilled Its First Well
Nabors Industries Ltd., a leading provider of advanced technology for the global energy industry, today announced its PACE®-R801 – the world’s first fully automated land drilling rig – has reached total depth on its first well, a horizontal well for ExxonMobil in the Permian Basin. Combining Nabors proprietary Smart Suite of automated …
Chevron Boosts Spending 9% with Focus on Permian, Kazakhstan
Chevron said Thursday it will hike its 2019 capital spending by 9 percent up to $20 billion with major focuses on West Texas’ booming Permian Basin and the massive Tengiz oil field in Kazakhstan. The spending increase comes despite oil prices falling by more than 30 percent since early October …