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SM Energy reports record proved reserves, including 34 percent in Midland Basin

Permian Basin Oil and Gas Magazine

million barrels (80,200 barrels per day) up 23 percent from 2023. Estimated net proved reserves at yearend 2024 were 673 million barrels of oil equivalent, including 51 percent in south Texas, 34 percent in Midland Basin and 15 percent in Uinta Basin. Oil production last year was 29.4 Total production was 62.4

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Civitas expands Permian position with new assets in Howard, Glasscock, Upton

Permian Basin Oil and Gas Magazine

Denver-based Civitas Resources said last week it expanded its Permian Basin position with the purchase of operated assets in Howard, Glasscock and Upton counties in Midland Basin. Oil production for 2025 is forecast at 150,000 to 155,000 barrels per day. Forty percent of Permian activity is planned in Delaware Basin.

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MPLX to acquire remaining interests in BANGL pipeline from Permian to Gulf

Permian Basin Oil and Gas Magazine

BANGL transports up to 250,000 barrels per day of natural gas liquids from Permian Basin in west Texas to fractionation markets on the Gulf Coast. The post MPLX to acquire remaining interests in BANGL pipeline from Permian to Gulf appeared first on Permian Basin Oil and Gas Magazine. Closing is expected in July.

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Permian Resources plans to increase production in 2025 by 8 percent

Permian Basin Oil and Gas Magazine

Permian Resources said 65 percent of 2025 operating activity will be focused in New Mexico and 30 percent in Texas in Delaware Basin and the remaining activity in Midland Basin. Fourth quarter production was 171,300 barrels of oil per day (368,400 boed).

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Pemex oil exports fall in January, including by 36 percent to U.S.

Permian Basin Oil and Gas Magazine

Crude oil exports by Pemex, Mexicos state-owned petroleum company managed and operated by the Mexican government, fell 44 percent in January 2025 compared to the same month last year to 532,404 barrels per day. appeared first on Permian Basin Oil and Gas Magazine.