Texas led major producing states with a gain of 6 drilling rigs in the past week, according to the weekly report of Oct. 11 by Baker Hughes.  Oklahoma was the only other state to add a rig.  There were 304 rigs in Permian Basin (unchanged in past week, down 7 from 311 year ago), 285 […]

Houston-based APA Corp. curtailed about 103 million cubic feet per day of natural gas production in third quarter “in response to weak or negative Waha hub prices.”  APA said Oct. 9 it also curtailed about 10,000 barrels per day of natural gas liquids in 3Q “mostly associated with the voluntary gas curtailments.”  Reuters said APA […]

Testimony at last week’s hearing in Odessa about a proposed carbon dioxide injection site in Ector County included local leaders and executives promising cleaner air and more jobs and environmental activists warning of seismic activity and water contamination.  About 15 people testified at the hearing Oct. 3 in Odessa conducted by U.S. Environmental Protection Agency […]

U.S. Energy Information Administration reported recently that U.S. is the world’s largest exporter of motor gasoline (finished gasoline plus gasoline blending components) by supplying more than 16 percent of total global exports. U.S. motor gasoline exports in 2023 averaged 900,000 barrels per day, equivalent to about 10 percent of domestic consumption – enough to fill […]

Houston-based private equity firm Post Oak Energy Capital said last week it completed an equity commitment to newly formed Ichthys Energy Partners, a Dallas-based exploration and production firm.  Ichthys will seek to execute a growth strategy focused on operated and non-operated leasehold acquisitions and strategic partnerships in Permian Basin. Michael Poynter, CEO of Ichthys, said […]

Dallas-based Producers Midstream II, portfolio company of Tailwater Capital, said last week it is constructing a new gathering, treating and processing system in Lea County, N.M., in the core of the Delaware Basin.  The initial build-out will use existing plant, treating and compression assets owned by the company.  The new system is expected to begin […]

Texas comptroller Glen Hegar recently announced the state’s final tax revenues for fiscal year 2024.  It included about $8.4 billion in production taxes from the oil and gas industry that will be used to fund major parts of the state budget.  A quarter of this revenue is earmarked for public education which this year will […]

The counts of active drilling rigs from Baker Hughes declined for the third straight week in U.S. and second straight week in Permian Basin.  But the count in Texas posted its third straight gain.  In the weekly report of Oct. 4, there were 304 rigs in Permian Basin (down 2 from last week, down 5 […]