Oil and gas exploration company Apache, based in Houston, Texas, announced on Wednesday, September 7, that it has made a remarkable discovery in West Texas’s Permian Basin – roughly 75 trillion cubic feet of natural gas and over 3 billion barrels of oil.
The new field is situated on the southern side of the Delaware Basin, basically in Reeves County, south of New Mexico. The field is called the “Alpine High” because it is near the Davis Mountains. In effect, it’s discovery and development have increased Apache’s estimated capital spending this year to about $2 billion.
The company has pieced around 307,000 acres at around $1,300 per acre and has drilled 19 wells in the Woodford and Barnett. Apache expects to deliver a combined $4 to $20 million per well, where $3 covers each cubic foot of natural gas and $50 covers each barrel of oil.
“… as we focused on organic growth opportunities. These efforts have resulted in the identification of an immense resource that we believe will deliver significant value for our shareholders for many years,” said John J. Christmann IV, Apache’s President and Chief Executive Officer.
If you own property that has deposits of minerals or oil, you may be interested in selling the rights to those minerals. Contact The Mineral Auction at (512) 698-2802 to learn more about the benefits.
Thanks to the state’s current energy boom, Texas has outranked almost all countries in the world when it comes to natural gas production, The Daily Caller reported on May 29.
With 18.1 billion cubic feet of natural gas being produced every day, Texas falls behind only Russia and the entire United States in terms of natural gas production. A graph released by the American Petroleum Institute also showed that the Lone Star State managed to outplay all member-nations of the Organization of the Petroleum Exporting Countries (OPEC), including Saudi Arabia and Algeria.
Texas as the forefront of natural gas production only means that the best time to get the most out of the energy boom is today. If you are planning to sell your mineral rights, our team of mineral rights brokers at The Mineral Auction has the resources and the experience to help you sell your rights at the best possible price. Call us at (512) 698-2802 today.
Houston-based midstream energy services provider Enterprise Products Partners LP has announced it will purchase the Eagle Ford Shale Midstream system (EFS Midstream) of Dallas-based Reliance Industries Ltd. and Mumbai-based Pioneer Natural Resources Co. for $2.15 billion, Bloomberg Business reported on June 1.
According to the agreement, Enterprise will pay the sellers in two installments. $1.15 billion will be paid upon the deal’s closure, while the remaining $1 billion will be paid 12 months after the closing. EFS Midstream is a provider of services in the petroleum industry’s midstream section, which comprises transportation, storage, and marketing of petroleum products. EFS Midstream is currently operating in the oil-rich Eagle Ford region.
The rising number of petroleum industry players who want to expand their business portfolio indicates how promising the energy sector is today and in the near future. If you are a mineral rights owner in Texas, selling your rights upfront would enable you to benefit from this current energy boom. To learn more about selling your mineral rights, consult with our team of mineral rights broker at The Mineral Auction by calling (512) 698-2802 today.
Although the past months have been rough for the oil and gas industry due to plummeting prices of oil, economists say the country’s oil drilling boom is slowly beginning to come back to life, Bloomberg Business reported on May 9.
The CEO of energy data provider Drillinginfo said the country’s rig count may increase to up to 1,300 if the prices of oil rise above $70 per barrel. The Permian Basin in Texas is projected to be the first area to recover from the bust. This is due to the multi-stacked production zones that allow players to drill oil at varying depths through a single well.
Evidence here and there suggests that the country’s drilling boom is not yet over, and selling your mineral rights upfront would enable you to get the most out of it without having to worry about fluctuating oil prices or the threat of a bust. To learn more about selling your mineral rights, consult with our mineral rights broker at The Mineral Auction by calling (512) 698-2802 today.
Despite a significant fall in crude oil prices in the second half of 2014, the United States was still the world’s undisputed biggest producer of oil and natural gas hydrocarbon last year, the Climate Spectator revealed on April 9.
The report said the boost in production was due to the country’s aggressive exploration and drilling of shale gas and tight oil formation, specifically in the states of North Dakota and Texas. The country was able to boost its petroleum production by 3 quadrillion British thermal unit (Btu), or 1.6 million barrels per day, and its natural gas production by 5 quadrillion Btu, or 13.9 billion cubic feet per day.
On the other hand, petroleum and natural gas production in two other competing countries, Russia and Saudi Arabia, has remained unchanged for several years.
The country’s impressive oil and natural gas production further testifies that you can get the most out of your mineral rights by selling it today. To learn more about getting the highest possible value for your mineral rights sale, speak with our team of mineral rights brokers at The Mineral Auction by calling (512) 698-2802 today.
The skyrocketing energy production in Texas allowed the state’s oil and natural gas industry to pay record-high amounts in taxes and royalties last year, a report by the Victoria Advocate stated on February 24.
Data released by the Texas Oil and Gas Association showed that the state’s oil and gas industry has contributed $15.7 billion to the state in terms of royalty payments and taxes. Association president Todd Staples said these payments are being used to fund schools, children’s health insurance, and public services, among many other important community projects.
The report further added that the state’s vibrant energy sector directly employs 418,000 Texans, while indirectly providing jobs for another 1.8 million individuals across the state.
Indeed, the continuous growth of Texas’ oil and gas industry benefits not only its direct stakeholders, but also the community in which it thrives. If you want to know more about how to benefit from this boom by selling your mineral rights, the team at The Mineral Auction can help you. Call us at (512) 698-2802 to learn more about selling your mineral rights for the highest value possible.
Over recent years, Texas has been among the most attractive places to explore and invest in petroleum, coal, oil, and natural gas. Investors and other major players in the energy business continue to eye the state as a place where the energy sector’s full potential for growth and revenue could be realized.
Rich energy reserves are Texas’ greatest comparative advantage. According to the U.S. Energy Information Administration (EIA), Texas has the highest crude oil reserve in the country, and is also its number one producer. The EIA added that nearly a third of the top 100 gas-producing fields in the country are located in Texas. When it comes to coal production, Texas ranks first among the largest producer of lignite, a type of coal used to generate power.
These are just a few of the many reasons why investors continue to capitalize on Texas’ energy sector. If you want to take part in this economic trend by selling your mineral rights, our team of mineral rights brokers at The Mineral Auction can help you make the most out its value. Call us at (512) 698-2802 to know more about our services.
Hillcrest Resources Ltd. announced that on December 19, it completed the purchase of Texas-based Gulfsands Petroleum USA, according to a press statement published by the Marketwatch on January 20.
The purchase caused Hillcrest’s production to increase by approximately 171 barrels of oil per day (bopd) and 420 thousand cubic feet of gas per day. The company also said that apart from increased oil and gas production, it identified four new infill drilling locations and also continued their well re-completion and maintenance projects.
The newly-sealed deal also relocates Hillcrest’s main office to Houston,TX. According to Hillcrest CEO and Chairman Don Currie, the change of address would move their headquarters to a location nearer to their production facilities and would also streamline administrative responsibilities and operations.
Major players in the oil and gas industry are switching to their newest location of interest – Texas. If you want to take part in this economic boom by selling your mineral rights, speak with our team of mineral rights brokers at The Mineral Auction by calling (512) 698-2802 today.
Anadarko Petroleum Corporation is partnering with New York-based private equity firm KKR & Co. in a bid to develop its acreage across East Texas, Bloomberg reported on October 29.
An investment of $442 million has been provided by the KKR & Co. to fund the drilling of more than 500 oil and gas wells in the Eaglebine field, an oil- and gas-rich region northeast of Houston. A University of Houston lecturer on energy economics said the joint venture will help Anadarko expedite oil and gas drilling activities and secure its leased lands without having to lose much of its own funds.
An ever-increasing volume of investment in oil and gas sector means a robust public and business confidence in the industry. If you are planning to take part in the oil and gas boom in Texas by selling your mineral rights, consult with a broker at The Mineral Auction by calling (512) 698-2802 today.
Encana Corp. is making its way into the oil and natural gas-rich Permian region of Texas after it announced its plan to buy Athlon Energy, an online Calgary Herald report stated on September 29.
Encana plans to buy the Texas-based energy firm for a little less than $6 billion and to assume its debt worth more than $1 billion. With this deal, the company envisions producing 250,000 barrels of oil per production day by 2017, which is five times what it produced last year. The company also believes the acquired land provides the company with around 5,000 possible new drilling spots.
Selling your mineral rights to healthy and well-footed companies in the oil production sector is a guaranteed way to ensure that you get the best value out of your property. The professionals at The Mineral Auction can provide you a wide portfolio of businesses who can buy your rights when you call our office at (512) 698-2802 today.