Topic: Pioneer Natural Resources

Concho Resources Extends Permian Reach with $1.62B Acquisition

Concho Resources (NYSE: CXO) is an independent pure play operator focusing in on the Permian Basin. More specifically they operate in the Delaware Basin and Midland Basins, recently acquiring more acreage in the Midland area. CXO is expecting to spend $1.2 billion during the 2016 having already depleted $572 million or 52% during the first two quarters. The company has focused in on reducing operating cost looking to reduce the transportation costs associated with water disposal volumes by using pipelines...

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Permian Part 2 of 2: Top OFS Companies Lose Share of Midland Basin

As a follow-up from last weeks’ article on the Delaware Basin, this week we review the Midland basin to see how activity has declined and what counties, operators, and oilfield service companies are hanging in there. Operators in the Permian depend on the play for the best economics to produce in this low priced environment, moving away from other non-core areas.The Midland basin has seen a steeper drop in activity compared to the Delaware, showing a -65% decline in the number...

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Permian Part 1 of 2: Even $30 Oil Can’t Hold Back Delaware Basin Activity

Many operators turn their focus to the Permian as their “core” basin in 2015. The operators rely on the play to have the best economics to produce in this low priced environment, so we took a deeper dive into specific areas to show a more detailed view of activity. Part one of this article will go into the Delaware Basin and will be followed up with part 2 in the Midland basin next week. Stay ahead of your competitors by knowing DUCs by...

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7 E&Ps Fighting Through 2015 Low Commodity Prices

As third quarter earnings season starts we take a look at where some operators are in their drilling and completion programs and begin to get a peak at 2016 expectations. Check back for updates as operators and oilfield service companies update their positions in the current environment.  Antero Resources Expects 25% Production Growth Antero Resources (NYSE: AR) continues to cover production with 94% covered for the 2015 year and looking ahead to 2016 they expect 25% to 30% production growth having 1,793...

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Permian: Midland & Crockett are Top Counties for Drilling Permits

The week of July 17th drilling permit activity was down -34%, with 65 permits issued. The top counties were Midland and Crockett. Both counties had 0 permits issued the week prior. Rig activity in the Permian showed positive signs, with rigs increasing +3 this week.The chart below shows the decline in activity this year compared to the same week at this time last year, which had 235 permits during the week. Core Permian Counties The top 5 permitting counties from last week (2015-07-10), which include Reeves, Lea,...

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Eagle Ford: Top Shale Operators Issue New Drilling Permits

Drilling Permits Down -16.9% as Dimmit Increases and DeWitt Falls This past week, permits in the Eagle Ford fell 16.9% to 49, compared to the previous week's 59 permits. Decreasing activity this past week in De Witt only yielded 11 permits, compared to the previous week's 21 permits. County permitting continued in counties like La Salle and McMullen, with 7 permits a week for the last two weeks, and Frio County, which had 3 permits for each of the last two...

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Permian Focus: Drilling Permits Down in Permian From Last Week

Permit activity in the Permian Basin has felt a steep decline since October 2014, correlating to the decline of completion and rig activity in the area. This past week, there were a total of 89 permits in the Permian, with 57 of them being horizontal and 27 of them being vertical (down from this past week's 107 permits). Upton County continues permit activity, as it is the top county for the week, up +6 from last week's 12 permits. Most Active Permian...

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Rig Counts down -26% since Start of 2015

The Baker Hughes US Rig Count for land rigs remains in a downturn, dropping 7.1% this week to 1288 rigs compared to last week. The rig counts are down -25.76% from the start of 2015 when the count was at 1735 rigs.Texas has felt the biggest hit, decreasing their count by -56 rigs or -8.6% this week, dropping over half of the rigs for this week. The largest changes happened in the Permian Basin and the Barnett Shale, which lost...

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