Crude oil exports by Pemex, Mexico’s state-owned petroleum company managed and operated by the Mexican government, fell 44 percent in January 2025 compared to the same month last year to 532,404 barrels per day. That’s its lowest in decades, according to Reuters, “as the company has admitted it is struggling with crude quality.” The monthly […]
U.S. rig count up for fifth straight week; Permian Basin, Texas adds rigs
The count of active drilling rigs in U.S. increased for the fifth straight week, according to the weekly report of Feb. 28 from Baker Hughes. There were 593 rigs in U.S. (up 1 in the past week, down 36 from 629 year ago). Permian Basin reported 305 rigs (up 1 in past week, down 10 […]
SM Energy reports record proved reserves, including 34 percent in Midland Basin
SM Energy of Denver recently reported record oil production for 2024 and also a company record for yearend estimated net proved reserves. Oil production last year was 29.4 million barrels (80,200 barrels per day) – up 23 percent from 2023. Total production was 62.4 million boed (170,000 boed) – up 12 percent from 2023. Estimated […]
Civitas expands Permian position with new assets in Howard, Glasscock, Upton
Denver-based Civitas Resources said last week it expanded its Permian Basin position with the purchase of operated assets in Howard, Glasscock and Upton counties in Midland Basin. The bolt-on acquisition of 19,000 net acres for about $300 million includes about 130 future development locations. Chris Doyle, president and CEO, said Feb. 24, “Our 2025 outlook […]
RRC Commissioner Applauds Trump Executive Orders
Texas Railroad Commissioner Wayne Christian released the following statement Jan. 25 on President Donald Trump’s executive orders supporting reliable energy production in America: “On Day One, President Trump prioritized actions to undo some of the harmful, radical policies from the last administration and set America on a course toward energy independence. His executive orders will […]
Energy Trends for 2025
Supportive federal policies, growing LNG exports, and the energy transition will set the stage for strategic decisions across the U.S. oil and gas sector trends in 2025. Here are some trends that Jeff Robertson, Managing Director at Water Tower Research, identifies as key forces shaping the oil and gas landscape next year. (1) Pro-Growth U.S. […]
Where Water Takes Center Stage
With water’s role in energy production more critical than ever, organizers of a fast-approaching annual conference on that subject promise that this year’s iteration will be the most impactful yet. The University of Texas Permian Basin’s annual Permian Basin Water in Energy Conference (PBWIEC) will convene March 4–6, 2025, offering opportunities for innovation, collaboration, and […]
Going Horizontal
Spreading out far and wide—what are the limits of long laterals? In the shale revolution, the vertical sections of wellbores don’t do much for production—they’re a means to an end. So, the longer the laterals connected to each vertical hole, the more of the formation is exposed to production. Meanwhile, an ancillary benefit of […]
Council Cites Need to Repeal Energy Regulations
The Energy Workforce and Technology Council (EWTC) issued the statements below on Jan. 20 in support of President Donald J. Trump’s declaration of a national energy emergency, signaling a step toward strengthening America’s energy security. President Trump’s announcement underscores the need to unburden the energy industry from excessive and unnecessary regulations that have stifled growth and investment, the […]
Enverus Names Top 50 Public E&Ps of 2024
Enverus, an energy-dedicated SaaS company that leverages generative AI across its solutions, released on Jan. 8 its list of the most prolific 50 public oil and gas operators in the United States, based on gross operated production last year. “Last year, the top 10 public operators represented 56 percent of production out of the Top 50 […]
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