Click here to listen to the Audio version of this story! Usually, all the industry news is about the major operators, and sure, they are influencers and market makers. Beyond the spotlight, however, are a host of hard-working independent producers. Working together, independents actually produce about 83 percent of U.S. oil and 90 percent […]
EIA forecasts production of natural gas to increase in Permian Basin
U.S. Energy Information Administration said Henry Hub spot prices for natural gas averaged $7.72 per million BTU in January. That’s an increase of 81 percent from December because of “increased heating demand, reduced production and large inventory withdrawals as winter storm Fern blanketed a large portion of the U.S.” In its short-term energy outlook released […]
Count of frac crews in Permian Basin increases in past week and past year
Enverus’ latest rig count update released this week shows the number of frac crews in Permian Basin has increase in the past week and the past year. As of Jan. 23, 2026, there were 106 crews in Permian Basin compared to 94 a week ago and 103 a year ago. Across the U.S., there were […]
MPLX capex for 2026 includes gas plants, pipelines in Permian Basin
Findlay, Ohio-based MPLX said recently its capital spending for 2026 is expected to be about $2.7 billion, including an expansion of its Permian-to-Gulf Coast integrated value chain. The capex will be comprised of 90 percent focus on growth capital and 10 percent on maintenance capital. MPLX is progressing its long-haul pipeline growth to support expected […]
EIA: Oil price to average $58 per barrel in 2026, $53/b in 2027 after $69/b in 2025
U.S. Energy Information Administration this week repeated its forecast of declining crude oil prices in 2026 and 2027. After an estimated average of $69 per barrel in 2025, EIA said Feb. 10 in its short-term energy outlook that the price is expected to average $58 per barrel this year and $53/b in 2027. EIA said […]
“Back” to the Future!
Welcome to this month’s edition of Safety. Each year, regardless of anyone’s job description, whether white collar or blue collar, back injuries rank among the most prevalent suffered in the workplace. Each year there are more than two million back injuries. Eighty percent of adults suffer a back injury sometime in their lifetime, whether at […]
Expand Energy appoints new interim CEO, announces relocation to Houston
A second oil and gas company in the past week has announced relocation of its headquarters from Oklahoma City to Houston. Expand Energy said this week chairman Mike Wichterich has been named interim CEO after the departure of CEO Nick Dell’Osso, who also resigned his seat on the company’s board. Expand said it will relocate […]
Permian delivers on production target of 1 million boed for Chevron in 2025
Houston-based Chevron said last week its worldwide and U.S. net oil-equivalent production set annual records in 2025. The Hess acquisition added 261,000 boed while Chevron legacy operations added another 124,000 driven by growth in the Permian Basin and project ramp-ups at TCO in Kazakhstan and in the Gulf of America. Chevron said the Permian Basin […]
U.S. adds rigs for third straight week, Texas up 6 to 232, Permian down 1 to 241
U.S. added drilling rigs for the third straight week and fourth time in six weeks in 2026, according to Baker Hughes’ weekly report of Feb. 6. U.S. added 5 rigs in the past week for a new total of 551. The count is up 6 for the year, but down 35 or 5.97 percent from […]
Verde, Cottonmouth suspend development of gas-to-gasoline plant
Houston-based Verde Clean Fuels said last week it suspended development of a gas-to-gasoline plant in Martin County in Midland Basin. The suspension was “primarily as a result of changing market conditions driven by increasing demand for natural gas in the Permian Basin.” The facility is a joint development of Verde and Cottonmouth Ventures, subsidiary of […]
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