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 […]
What Will They Optimize Next?
Wellsite “optimization,” which might be thought of as the intersection of pump activity and computer science, has just taken another step. On Dec. 1, ChampionX released new-generation software that manages wellsite surveillance and chemical optimization, in addition to its core package of artificial lift controls. The effort is ChampionX’s release of its XSPOC production optimization […]
Methane Capture Increasingly Economic
Current natural gas prices, including record high global prices, and renewed concerns for energy security are making projects that capture and commercialize vented, fugitive, and flared methane increasingly economic, with the potential to lower emissions and unlock substantial new supplies of gas, a new analysis by S&P Global Commodity Insights finds. The analysis examined 6 key regions—North […]
Polymers Plant to be World’s Largest
Corpus Christi Polymers’ (CCP) new petroleum derivatives processing and manufacturing plant in Texas will become the largest in the United States and even in the world once it’s fully operational, producing 1.1 million tons of polyethylene terephthalate (PET) and another 1.3 million tons of purified terephthalic acid (PTA) materials. This new plant will represent an […]
One Million and Counting
by Dr. M. Ray Perryman Job openings in Texas as of September reached an all-time high at 1,026,000. According to data from the U.S. Bureau of Labor Statistics (BLS), the state has once again topped one million openings after a few months below that level (initially reached in June). Last September, there were 855,000 openings […]
A Look Ahead
Members, This new year of 2023 will no doubt bring us great changes. We are hopeful of real progress as our elected officials gather in Washington, Santa Fe, and Austin to develop public policy that will leverage America’s great natural resources. Meanwhile, we cannot lose sight of the fact that our opposition is both obstructive […]
Upstream employment grows by 1,300 in December, by 36,100 for year
Texas Workforce Commission said last week that upstream oil and gas employment increased by 1,300 jobs in Texas in December and by 36,100 for the year 2022 to 211,200. Todd Staples, president of Texas Oil and Gas Association, said, “It is encouraging to see upstream employment end the year on a positive note, particularly as […]
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