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Ring Energy Finalizes Acquisition of Stronghold Energy II

Ring Energy Finalizes Acquisition of Stronghold Energy II

Ring Energy, Inc. has completed its previously announced acquisition of the assets of privately-held Stronghold Energy II Operating LLC and Stronghold Energy II Royalties LP. Stronghold's operations are…

Ring Energy Acquires PE-Backed Stronghold Energy II for $465 Million

Premium content Ring Energy Acquires PE-Backed Stronghold Energy II for $465 Million

Ring Energy, Inc. has acquired all of the assets of privately-held Stronghold Energy II Operating LLC and Stronghold Energy II Royalties LP for $465 million. This deal closed…

Maverick Natural Resources Inks $440MM Deal for Permian Assets

Premium content Maverick Natural Resources Inks $440MM Deal for Permian Assets

Maverick Natural Resources has agreed to acquire certain producing properties in the Permian Basin from ConocoPhillips for a purchase price of $440 million. The seller was not disclosed.…

Riley Exploration Permian Talks Q1 Production, Drilling

Riley Exploration Permian Talks Q1 Production, Drilling

Riley Exploration Permian, Inc. provided an update on its fiscal first quarter 2021 operational and financial results. Q2 2021 Highlights: FQ1 2021 production of 7,588 net Boe/d, up…

Contango to Acquire Oily Assets in Big Horn, PRB, Permian Basins

Premium content Contango to Acquire Oily Assets in Big Horn, PRB, Permian Basins

Contango Oil & Gas Co. has signed a deal to acquire assets in the Big Horn, Permian, and Powder River Basins for $58 million in cash. The assets…

Ring Energy Talks 2020 Plans; Spending, Drilling Down 44% YOY

Ring Energy Talks 2020 Plans; Spending, Drilling Down 44% YOY

Ring Energy Inc. detailed its 2020 capital plan. 2020 Plans - Cuts to Capex, Wells and Rigs YOY Ring has cut its spending, well and rig plans across…

Ring Details Q4 Drilling Activity, IP Averages; Adds to Hedges

Ring Details Q4 Drilling Activity, IP Averages; Adds to Hedges

Ring Energy, Inc. reported its operations update for the fourth quarter of 2019 as well as its year-end drilling summary. Q4 Drilling Activity - Three New NWS Wells…

Ring Talks Q3 San Andres / CBP Drilling Activity, Well Results

Ring Talks Q3 San Andres / CBP Drilling Activity, Well Results

Ring Energy, Inc. released its operations update for the third quarter of 2019. In Q3 2019, Ring drilled six new one-mile horizontal San Andres wells on its Northwest…

Woodland Midstream II Acquires Permian Gas Gathering & Processing System

Premium content Woodland Midstream II Acquires Permian Gas Gathering & Processing System

Woodland Midstream II, LLC announced the acquisition of the James Lake System from a privately-owned seller for an undisclosed amount. Woodlands Midstream II was formed back in February…

Ring Drills Six New San Andres Wells; Reports IP Rates from CBP

Ring Drills Six New San Andres Wells; Reports IP Rates from CBP

Ring Energy, Inc. released a mid-quarter operations update for the third quarter of 2019. In the first 47 days ended August 16, 2019, the Company drilled six new…

Central Basin Top Operators (Undrilled Permits)

Company Last 12 Months
Diamondback Energy, Inc. 91
Occidental Petroleum Corp 84
Blackbeard Operating LLC 63
locked 44
locked 22
locked 21
locked 17
locked 13
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Central Basin Drilling Permits Trends (Last 24 Months)

Central Basin Well Completion Trend

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Central Basin Rig Data: August 26, 2026

Central Basin Overview

Since its discovery in the mid-1950s, the San Andres formation in the Central Basin Platform has produced approximately 1.9 billion of cumulative equivalent barrels of oil at depths averaging 4,500 feet, according to the Bureau of Economic Geology. Recent wells drilled in the horizontal San Andres have averaged approximately 400 to 700 BOE per day, with the estimated potential to deliver returns ranging 45% to 95% under a WTI oil price scenario of $50/bbl to $60/bbl, respectively.

Central Basin Mergers & Acquisitions

Central Basin Transactions By Quarter ($MM)