“Distance not only gives nostalgia, but perspective, and maybe objectivity.” —Robert Morgan As we stand here in the still-new 2020s decade and look about us, we can reflect that the ten years that brought us to this moment were some of the most eventful, and even un-anticipated, years that the Permian Basin has known. Distance […]
Setting Boundaries
In September of this year, the Texas Supreme Court denied a request to rehear arguments in a case it issued an opinion on in April 2021. The case, styled Concho Resources, Inc. et al. v. Ellison d/b/a Ellison Lease Operating, was a trespass-to-try-title suit between the lessees of adjacent tracts. The dispute arose when Ellison […]
Rig counts decline in Permian Basin, Texas; U.S. adds 3 rigs in past week
Permian Basin and Texas each lost a drilling rig in the past week while U.S. added three. According to Baker Hughes, as of Jan. 21, there were 292 active oil and gas rigs in Permian Basin (down 1 in past week, up 104 in past year), 280 in Texas (down 1 in past week, up […]
Texas Petro Index increases for eighth straight month in November 2021
Texas Petro Index increased for the eighth straight month in November to 169.1. The index, prepared by petroleum economist Karr Ingham for Texas Alliance of Energy Producers (base 100 in January 1995, peak 314.0 in November 2014), grew from 164.3 in October and 138.3 in March when the current expansion began. TPI is up 24 […]
Rystad: oil, gas discovered last year falls to lowest level since 1946
Norwegian energy research firm Rystad said the amount of crude oil and natural gas discovered globally last year fell to the lowest level in 75 years. Operators discovered 4.9 billion barrels of oil and natural gas in 2021, the lowest level since 1946 and down from 12.5 billion in 2020 and 15.8 billion in 2019. […]
LNG exports from Port of Corpus Christi boost 2021 tonnage to record
Exports of liquefied natural gas helped produce another record year for the Port of Corpus Christi, according to Natural Gas Intelligence. The south Texas port ended 2021 with a record 15.7 million tons of LNG exports as global energy markets continued to recover from reduced demand caused by the coronavirus pandemic. The port had an […]
Texas LNG Brownsville, Enbridge agree to expand pipeline to export facility
Texas LNG Brownsville and Enbridge, North American leading energy infrastructure company, said last week they agreed to expand the Valley Crossing pipeline to deliver 720 million cubic feet per day of natural gas to Texas LNG’s export facility for at least 20 years. The pipeline consists of a 160-mile pipeline (42 and 48 inches in […]
Split Rock acquires drilling inventory in Delaware, Midland basins
Fort Worth-based Split Rock Resources said last week it acquired non-operated assets in Permian Basin from a private seller for cash purchase price of $97.5 million. The acquisition includes non-operated assets in Eddy and Lea counties in New Mexico in Delaware Basin and in Glasscock County in Texas in Midland Basin. The assets, which currently […]
We Enrich Ourselves When We Honor Deserving Leaders
The Permian Basin leads the United States in the production of oil and natural gas. Our region leads the oil and natural gas sector in technological innovations and environmental improvements. It led the United States to a place of energy independence in the not too distant past and even though certain tides continue to work […]
Evolution to provide electric fracturing technology for Permian operator
The Woodlands-based Evolution Well Services last week announced a long-term electric hydraulic fracturing contract with a Permian Basin operator to begin in 2022Q4. The contract will employ Evolution’s “patented electric fracturing technology coupled with an innovative Simul-frac completions technique.” The technology will be fueled 100 percent by natural gas via aero-derivative turbines rather than conventional […]
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