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The Delaware Basin is a geologic depositional and structural basin in West Texas and southern New Mexico, famous for holding large oil fields and for a fossilized reef exposed at the surface. Guadalupe Mountains National Park and Carlsbad Caverns National Park protect part of the basin.
June 2022: Acquired 3Bear Energy through Delek's master limited partnership, Delek Logistics Partners, LP. 3Bear's operations included crude oil and gas gathering, processing and transportation businesses, as well as water disposal and recycling operations in the Delaware Basin in New Mexico. [36] Mergers
The sale included all of Pioneer Resources assets in the Delaware Basin as it sought to focus on the eastern Midland Basin in Texas. Pioneer Resources exits Delaware Basin, New Mexico in $3.25B ...
In the United States, the company had major holdings in the Delaware Basin, where it had over 580,000 gross acres, primarily in the Cline Shale; the Denver Basin, where it had more than 400,000 net acres; operating 4,600 vertical wells and 1,400 horizontal wells, and in Greater Natural Buttes, Utah, where it had approximately 2,850 wells. [1]
In September 2016, the company acquired Yates Petroleum for 26 million shares of common stock valued at $2.3 billion and $37 million in cash. The acquisition increased the company's holdings by 176,000 net acres in the Delaware Basin, 200,000 net acres in the Powder River Basin, and 138,000 net acres on the Northwest Shelf in New Mexico. [21] [22]
A Devon Energy pump jack in the Permian Basin. Photo credit: Devon Energy Texas' Permian Basin produces more oil each year than the Bakken or the Eagle Ford. However, despite its legacy as a top ...
The Permian Basin comprises several component basins, including the Midland Basin, which is the largest; Delaware Basin, the second largest; and Marfa Basin, the smallest. The Permian Basin covers more than 86,000 square miles (220,000 km 2 ), [ 1 ] and extends across an area approximately 250 miles (400 km) wide and 300 miles (480 km) long.
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