Texas’ oil and natural gas industry paid a record $24.7 billion in state and local taxes and state royalties in fiscal year 2022, according to annual economic impact report released Monday in Austin by Texas Oil and Gas Association.  Todd Staples, association president, said the total “shattered” the previous record of $16 billion in 2019 […]

Texas was only major producing state to add drilling rigs last week (up 1 to 380), according to weekly report of Jan. 20 by Baker Hughes.  Also, there were 354 rigs in Permian Basin (down 2 in past week), 102 in New Mexico (down 1 in past week) and 771 in U.S. (down 4 in […]

Forecast of oil production in Permian Basin by U.S. Energy Information Administration continues to grow.  EIA said Jan. 17 that production in Permian is expected to increase by 30,000 b/d in February to 5.635 million b/d from 5.605 million b/d in January.  In 7 major producing regions, production is expected to grow to 9.375 million […]

Pronto Midstream, subsidiary of Dallas-based Matador Resources, said Tuesday it agreed to acquire Advance Energy Partners and its oil- and natural gas-producing properties and undeveloped acreage in Delaware Basin for initial cash payment of $1.6 billion.  The deal includes about 18,500 net acres (99 percent held by production) in core of northern Delaware Basin in […]

U.S. Department of Interior said recently it has opened a new program office intended to ensure effective, accountable and efficient implementation of the federal government’s recent investment in cleanup of orphaned oil and gas wells.  Last year $43.7 million was allocated in initial funding for New Mexico from a total funding of $4.7 billion.  The […]

Tulsa-based Laredo Petroleum said last month it is changing its name to Vital Energy.  In Laredo’s 2022 environmental, social and governance and climate risk reports, Jason Pigott, president and CEO, said Laredo’s rebrand effective Jan. 9 is “consistent with its goal to ensure everyone has access to the reliable, affordable energy resources needed to power […]

Permian Basin, Texas, New Mexico and U.S. each added rigs in the second week of 2023, according to the weekly report of Jan. 13 from Baker Hughes.  There were 356 rigs in Permian (353 week ago, 293 year ago), 379 in Texas (378 week ago, 281 year ago), 103 in New Mexico (100 week ago, […]

Brentwood-based Delek U.S. Holdings said Jan. 4 its consolidated capital expenditure for 2023 will be about $350 million after an estimated $300 million capex in 2022.  Delek said growth capital is primarily allocated to expanding its gathering business in Permian Basin.  Sustaining capital includes a planned turnaround at its refinery in Tyler (75,000 b/d capacity).  […]

Houston-based Milestone Environmental Services, independent provider of energy waste sequestration services, said Jan. 3 it recently opened its first facility in New Mexico.  The Battle Axe facility is the first Milestone plant outside of Texas and the first of its kind permitted in New Mexico by the state’s oil conservation division to inject liquid oilfield […]