Utilizing scientific and engineering analysis, the Railroad Commission of Texas has issued new guidelines that further strengthen permitting of disposal wells in the Permian basin.
In order to further enhance the integrity of the underground disposal of produced water, new requirements will be implemented for saltwater disposal well (SWD) permit applications in the region. Produced water is a byproduct of oil and gas production and is injected into SWDs.
Permian Resources has reached an agreement to buy core assets in the Delaware basin from Apache parent company APA Corp. The deal, valued at $608 million, includes 13,320 net acres, 8,700 net royalty acres and 12,000 Boe/d directly offset Permian Resources’ core New Mexico operating areas. The transaction is expected to close by the end of the second quarter of 2025.
“The acquisition of EPIC NGL earlier this month, and today’s announcement that we are constructing a new gas plant in the Permian, furthers our integrated NGL [natural gas liquids] wellhead-to-market strategy, providing stable cash flow in uncertain market environments, enabling us to consistently return over 50 percent of net operating cash flow to shareholders”, said chair and chief executive Mark Lashier.
Occidental launched a $4.5 billion-$6 billion divestiture program when it announced its merger with CrownRock LP late 2023. It announced the completion of the $12.4 billion purchase August 1, 2024.
USEDC said in the statement that its announcement follows a record-breaking year during which USEDC deployed nearly $800 million into operated and non-operated projects.
The packages include approximately 49,000 net acres concentrated in Lea County, New Mexico, and around 200 kilometres of pipeline and other infrastructures. Coterra expects the new acreage will yield a total equivalent production of 60,000-70,000 bopd.
Despite growing support for nuclear energy and significant government investment, the U.S. grapples with the dilemma of managing highly radioactive nuclear waste.
Proposed solutions include consolidating nuclear waste storage facilities in the Permian Basin to reduce costs but face opposition from the oil and gas industry.
Socioeconomically struggling communities in Southeastern New Mexico view hosting nuclear waste storage facilities as a potential economic boon, while industry leaders express concerns over the impact on oil and gas production.