It goes without saying the soaring price of crude oil and wild price swings have producers rethinking their capital budgets and drilling programs this year. While some operators are focused on capital discipline and shareholder returns amid the Mid-East conflict, others are set to ride the wave of higher prices by expanding operations, boosting production, and adding rigs. ...

The San Juan Basin, which extends 7,500 square miles across northwest N.M., and southwest Colo., bears a storied history of gas riches, disappointments, and recent revivals. Natural gas was first discovered here in 1921. By 2007, the San Juan was touted as the nation’s largest gas field with claims of 12.9 TCF of recoverable reserves. But after 10 years of decline and poor economics, the basin in 2017 saw a mass exodus of its largest players—ConocoPhillips, BP, and ExxonMobil—chasing Permian treasures. Enter the independents ready to snap up those assets. ...

Hunters and gatherers might have aptly described Brazos Midstream upon its founding back in 2014. That would have meant hunters of infrastructure assets to gather, treat, and process crude oil and natural gas in the Permian basin....