Fort Worth-based HighPeak Energy recently amended its 2022 plans to account for recent acquisitions in Midland Basin.  High Peak said 2022 total capital expenditures will be $750 million to $800 million; prior guidance was $610 million to $660 million after $236 million in 2021.  HighPeak added a rig in October and another in January, and […]

Denver-based Centennial Resource Development said recently it delivered three of the top-performing wells in its history during 2021Q4 on its acreage in Delaware Basin.  During the quarter Centennial completed 9 wells across two developments in the southern part of its New Mexico position.  The four-well package was drilled in second Bone Spring sand interval with […]

Houston-based pipeline company Max Energy said last week it acquired an upper Gulf Coast pipeline system from Southcross Gulf Coast Transmission.  The purchase will add 328 miles of existing pipeline to Max Energy’s system.  Todd Edwards, chairman, said April 4, “Max Energy can now connect oil from all over the state to our Edna facility.  […]

U.S. Energy Information Administration said last week U.S. oil production fell in January by 2 percent to its lowest since September 2021.  Oil production fell to 11.4 million barrels per day in January from 11.6 million b/d the previous month.  EIA said production in Texas declined to 4.9 million b/d in January – lowest since […]

Baker Hughes’ count of active oil and gas drilling rigs is up 10.2 percent this year in Permian Basin to 323 as of April 1.  Permian has added 4 rigs in the past week, 99 in the past year and 30 since the end of 2021.  Also, rig count is up 19.5 percent this year […]

Midland-based ProPetro Services and Pioneer Natural Resources said April 4 they agreed to an amended pressure pumping services contract for 2022 that may be extended through 2023.  ProPetro will deliver and dedicate hydraulic fracturing fleets to Pioneer to provide fracture stimulation pumping services and associated products.  Rich Dealy, president and CEO of Pioneer, said, “This […]

U.S. exports of LNG increased nearly 16 percent in March to a record high, according to Refinitiv, as shipments to Europe grow after Russia’s invasion of Ukraine.  Refinitiv said U.S. LNG exports to all destinations were about 7.43 million tonnes in March – up from 6.4 million tonnes in February to top the record of […]

Railroad Commission of Texas is encouraging contractors to enroll to receive information about the commission’s state-managed plugging program.  The U.S. Department of Interior said in February about $107.5 million in federal funds is coming to Texas to cap and clean abandoned oil and gas wells in its effort to reduce emissions and improve health and […]