Houston-based Western Midstream Partners said last month it sanctioned a new cryogenic processing unit (300 million cfd capacity) at its Mentone plant in Delaware Basin (Mentone Train III).  Estimated in-service date is 2023Q4.  Craig Collins, senior vice president and COO, said, “We continue to attract incremental volumes from Occidental and third parties due to our […]

Desert Peak Minerals and Falcon Minerals said last week they completed their $1.42 billion combination to create Sitio Royalties.  Sitio will focus on large-scale consolidation of high-quality mineral and royalty interests across diversified exploration and production operators.  The transaction completed June 7 combined Desert Peak’s large Delaware Basin portfolio, backed by Kimmeridge Energy Management, with […]

U.S. Energy Information Administration said last week that marketed natural gas production from Permian Basin reached a new annual high of 16.7 billion cubic feet per day in 2021.  Permian Basin trails only Appalachian Basin (Ohio, Pennsylvania and West Virginia), which produced 34.8 billion cfd of marketed natural gas in 2021.  EIA said in its […]

Oil and gas operators in Permian Basin and elsewhere continued their pause in new drilling activity, according to the Baker Hughes report for June 3.  There were 342 rigs in Permian Basin (unchanged in past week, up 110 in past year), 357 in Texas (down 1 in past week, up 141 in past year), 98 […]

Texas added about 3,160 oilfield services jobs in May to grow the industry’s workforce in the state to 306,411, according to an analysis of preliminary data by Energy Workforce and Technology Council.  The council said the U.S. added about 4,775 jobs in May to grow the nation’s total to 628,793 in the industry.

Texas comptroller Glenn Hegar said this week the state received a record $666 million in oil production taxes in April and another $595 million in May.  In addition to being the highest monthly total in the state’s history, the April revenue was 99 percent higher than April 2021.  Natural gas production taxes were $339 million […]

Dallas-based Grey Rock Investment Partners – with interests in more than 2,500 wells in core areas of Delaware and Midland basins and four other plays – and Executive Network Partnering Corp. said recently they agreed to a $1.3 billion business combination that will result in the formation of publicly traded Granite Ridge Resources.  Grey Rock […]