Permian Basin

Oil stock Occidental Petroleum (NYSE:OXY) reported second-quarter financial results after market close Wednesday. Here are the key highlights. What Happened: Occidental reported second-quarter revenue of $6.82 billion, which beat a Street consensus estimate of $6.80 billion according to data from...

Exxon Mobil Corp (NYSE:XOM) shares are trading lower Friday after reports surfaced that it is nearing the completion of a $60 billion acquisition. The move sent shares of the target company, Pioneer Natural Resources Co (NYSE:PXD), nearly 10% higher. Exxon Mobil aims to further solidify its...

The U.S. Securities and Exchange Commission is investigating Exxon Mobil Corporation (NYSE: XOM) after an insider whistleblower alleged the energy giant overvalued its Permian Basin assets, sources told The Wall Street Journal. What Happened: Exxon employees tasked with valuing the company's...

Pioneer Natural Resources Company (NYSE: PXD) on Tuesday confirmed it has agreed to acquire market peer Parsley Energy Inc (NYSE: PE) in an all-stock transaction valued at $4.5 billion. Including Parsley's debt, the transaction is estimated to be valued at $7.6 billion. What...

Pioneer Natural Resources Co (NYSE: PXD) is in talks with Parsley Energy Inc (NYSE: PE) for an acquisition deal, according to the Wall Street Journal. If the deal goes through, Pioneer could become one of the largest oil producers in the Permian Basin. What Happened: Reportedly, both the Texas-...

America’s largest independent oil explorer, ConocoPhillips (NYSE: COP) is betting big on shale as it seeks to acquire rival Concho Resources Inc (NYSE: CXO), according to Bloomberg. What Happened: The coronavirus pandemic has dented oil demand, which led to a crash in crude oil prices in...

"Everything's bigger in Texas," as the saying goes. Texas generates most electricity in the U.S., and accounts for approximately 25% of the U.S. oil refining and natural gas industry. Texas is also on the verge of a renewables boom since it creates the most wind power in the...

Recent reports out of the Federal Reserve Bank of Dallas paint a gloomy picture regarding prospects in the U.S. oil industry. Even as U.S. crude and total petroleum production continue to set records, that is happening while surrounded by cutbacks in operations that are leading to less spending...

American oil production is expected to grow 7.2% next year to 13.2 million barrels per day; pipeline takeaway capacity from the Permian Basin will grow 2.4 million barrels/day, threatening crude by rail; and oil majors are already enjoying widening refining margins in anticipation of IMO 2020....

As the tanker division of Stevens Transport announced its closing this week, an analysis of the situation on the ground in the Permian Basin for trucks suggested things could get a lot worse.  While the statements from Stevens said that a loss of business hauling frac sand was a major reason for...

It’s the black gold of Permian Basin crude from West Texas that fuels the battle between Big Oil giants Chevron Corporation (NYSE: CVX) and Exxon Mobil Corporation (NYSE: XOM), but for Barclays it’s the green of cash that sets the two apart for investors. Barclays likes Chevron better...

Chevron Corporation (NYSE: CVX) reported its second quarter financial results before markets opened on August 2. Earnings per share of $2.27 crushed Wall Street's consensus expectations of $1.76. Earnings totaled $4.3 billion for the quarter, up more than 20 percent from the same quarter in the...

Occidental Petroleum Corporation (NYSE: OXY) CEO Vicki Hollub has announced the company's goal of becoming fully carbon-neutral. This is not just an ambitious goal: it's a first among U.S. oil and gas producers, and one that has a very distant time horizon, according to Raymond James....

Hemp Data We published our monthly hemp pricing and data report last week — click here for more info. Permania’s Back Today, we’re looking at a U.S. oil basin that we talk extensively about in our sand market reports and is back in the spotlight of oil and gas media: the Permian....