Jim Collins has written extensively about the concept of turning the flywheel. The idea is simple. Success breeds support and commitment, which breeds even greater success, which breeds more support and commitment… around and around the flywheel goes. People like to support a winner. I have written about leadership quite a few times and have […]
Four of top 5 counties in Permian added rigs last week, Lea leads with 67
U.S. count of active drilling rigs continues down for the year while counts in Permian Basin, Texas and New Mexico increased in the weekly report of Jan. 27 from Baker Hughes. There were 357 rigs in Permian Basin (up 3 in past week), 380 in Texas (unchanged), 105 in New Mexico (up 3) and 771 […]
Texas House Water Caucus includes nine representatives from west Texas
Initial roster of the Texas House Water Caucus includes nine members of the House of Representatives from west Texas. Sarah Schlessinger, CEO of Texas Water Foundation, said Jan. 13 the group will focus on creating a sustainable water system in Texas. She said aging infrastructure and limited investments have left Texas’ water infrastructure fragile. Last […]
Kinder Morgan plans continue for gas pipeline expansion, in service Nov. 1
Houston-based Kinder Morgan said Jan. 18 that land acquisition and procurement of materials and construction contractors continue as planned for expansion of Permian Highway natural gas pipeline. Target in-service date is Nov. 1 for the pipeline that will increase natural gas delivery from Permian Basin to Gulf Coast. The project will expand Permian Highway’s capacity […]
Permian Resources acquires assets in Lea, divests assets in Reeves, Eddy
Midland-based Permian Resources Corp. said Jan. 17 it recently made several portfolio management transactions, including acquisition of 4,000 net leasehold acres, 3,300 net royalty acres and 1,100 boed (73 percent oil) of net production primarily in Lea County, N.M., from an undisclosed seller for $98 million. James Walter, co-CEO, said, “The combined transactions high-grade our […]
ExxonMobil achieves zero routine flaring in Permian Basin in 4Q
Irving-based ExxonMobil said this week its operated assets achieved zero routine flaring in Permian Basin in 2022Q4. Exxon also said it remains on track to meet its goal of zero routine flaring across all its global upstream operated assets by 2030 to support the World Bank’s zero routine flaring initiative. Exxon reduced methane emissions intensity […]
Vitol company acquires Midland’s Delaware Basin Resources
VTX Energy Partners, U.S. upstream unit of global energy company Vitol, Inc., said Jan. 19 it will acquire Midland’s Delaware Basin Resources and its associated surface and water businesses. The deal is VTX’s first acquisition since the partnership was established by Vitol and VTX last year. Assets to be acquired include 35,000 net leasehold acres […]
Production Climbs in Lower 48
U.S. crude oil production grew steadily in 2022 thanks to increased energy demand in the United States and internationally. GlobalData noted that the majority of this production has been conducted in the Lower 48 (L48) region, which represented nearly three-fourths of total production. The data and analytics company notes that this upward swing is expected […]
Baker Hughes Added to Nasdaq-100
Baker Hughes (NASDAQ: BKR), an energy technology company, announced in December it has been added to the Nasdaq-100 Index, the top 100 largest domestic and international non-financial companies on The Nasdaq based on market capitalization. Nasdaq announced the inclusion on Dec. 9, which became effective prior to market open on Dec. 19. “We are proud to be included in […]
Determining Legislative Fate
by Julie Anderson The chairmanships and memberships of Texas legislative committees make newspaper headlines during the session because of these two sentences: The bill died in committee. The bill was reported out of committee. Those trying to prevent the passage of proposed legislation hope for No. 1. Those advocating for a bill root for […]
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