Permian Basin

Permian Basin Exclusives

QEP Resources Inc. (QEP) looks to be a survivor amid the downturn, carefully conserving its cash but willing to make a deal on the order of $1 billion or more when the time is right.

Buying or selling for most E&Ps deals come down to less than ideal timing. Whiting Petroleum Corp. (WLL) still wants to cross off at least $800 million in assets, but the market hasn’t quite cooperated.

Parsley Energy Inc. (PE) is still waiting for a clear signal on whether to keep its Delaware Basin assets, which it has continued to add, or jettison them.

Ending the second quarter of 2015, QEP had $446 million in cash, another $150 million coming in from a tax clawback and an unsecured revolver through 2018 of $1.8 billion that won’t be affected by bank redeterminations – and also has zero balance.

RSP Permian, potential acquisition, Midland Basin, horizontal, stock, offering

RSP Permian said it has signed a letter of intent to buy about 4,000 net Midland acres from a company owned by RSP affiliates while simultaneously opening up millions of shares for purchase.

Resolute Energy, Midland Basin, sale, debt

Denver’s Resolute, battling back debt, could gain $158- to $237 million from the sale of its acreage in the Gardendale area of West Texas, an analyst said.

Permian - Texas Drilling Permits Trends

7 Day Trend65 (-37)
30 Day Trend431 (-151)
1 Year Trend6845 (-4024)
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Heard In The Field


Pricing Falls As Market Retrenches

Workover/Well Service

Operators Focus On Completions Backlog

Well Stimulation/Pressure Pumping

Permian Basin Service Companies

Permian Basin Gross Acreage

Company Net Acreage
Occidental 1,765,000
Pioneer 900,000
Apache 850,000
Devon Energy 644,000
All Top Acreage Holders