U.S. Department of the Interior and its Fish and Wildlife Service recently revoked the endangered species listing of the dunes sagebrush lizard in an effort to resolve litigation pursued by the State of Texas.  The Trump administration asked a federal judge in Midland overseeing the suit to approve a settlement that would require the Fish […]

Permian Basin’s streak of five straight weeks of rising counts of active drilling rigs ended, but Texas’ streak continued for its eighth straight week.  In its weekly report of June 12, Baker Hughes said there 256 rigs in Permian (down 1 in past week, down 17 or 6.23 percent in past year) and 261 rigs […]

Tulsa-based Alliance Resource Partners said last week it is acquiring general partner and limited partner interests in AllDale Minerals III and AllDale Minerals IV for $206.2 million.  AllDale Minerals III and AllDale Minerals IV hold about 48,500 net royalty acres in multiple basins and resource plays, including Permian Basin.  Alliance’s announcement said the transaction implies […]

U.S. Energy Information Administration said this week it expects the Brent crude oil spot price to average $95 per barrel this year and $79 per barrel in 2027 after $69 per barrel in 2025.  And the natural gas price at Henry Hub is forecast at $3.60 this year and $3.46 in 2027 after $3.53 in […]

Houston-based Delfin Midstream said last week it secured $5 billion in financing to proceed with a long-delayed project to build the nation’s first liquified natural gas floating export terminal.  Delfin Midstream aims to build the largest LNG floating facility in the world.  It will be connected to an undersea pipeline Delfin is repurposing to bring […]

Texas Commission on Environmental Quality will conduct a virtual and in-person public hearing Monday at 9:30 a.m. in Austin on its proposed rules for using treated oilfield wastewater on Texas farmland.  TCEQ staff members will be available to discuss the proposal, and Texans can submit comments online through Tuesday. Texas Tribune said the proposed rules […]

U.S. Energy Information Administration reduced its expectation for global oil demand in 2026.  In Tuesday’s issue of its Short-Term Energy Outlook, EIA said high fuel prices, reduced fuel availability, and government initiatives are curbing oil consumption this year, particularly in Asia.  EIA said reduced demand will result in the world consuming 1.1 million fewer barrels […]

New Mexico State Land Office recently held a two-day hearing on proposed regulations to increase the amount of money oil and gas companies operating on state lands would pay to guarantee plugging and cleaning inactive wells.  The hearings were held May 27-28 for proposals that also would implement annual reporting requirements. The State Land Office […]