Houston-based Pinnacle Midstream II said July 21 it started Phase II of its Dos Picos system, including construction of a natural gas processing facility in Midland County with capacity of 200 million cubic feet per day. Commercial operation is expected to begin in 2022Q2. The Dos Picos plant will complement Pinnacle’s existing high-pressure, large-diameter gathering […]

Tulsa-based NGL Energy Partners said July 21 it completed the first of two large-scale wastewater recycling projects in Lea County, N.M. The project, which began in May, serviced a customer’s simultaneous fracturing completion activities. NGL Energy treated and provided a customer about 130,000 barrels per day with peak volumes of 140,000 b/d. NGL Energy said […]

Houston-based Lime Rock Resources said Monday it agreed to buy oil and gas properties primarily in Loving County in Delaware Basin for $508.3 million from a private seller. The transaction is expected to close Sept. 30. The property was producing 15,163 boed as of April 1. Eric Mullins, chairman and CEO, said the deal “fits […]

Port of Corpus Christi is having another record-breaking year. Port officials told Corpus Christi Caller Times Monday that the Port ended June with a record quarter and a record first half of the year – moving 80.5 tons of cargo in the first six months (4.7 percent increase over same period last year). They credited […]

Texas Petro Index from Texas Alliance of Energy Producers increased for second straight month and third time in five months this year. The index, based on a comprehensive set of economic indicators in the industry, was 143.1 in May – up from 139.7 in April and 138.3 in March. The index prepared by economist Karr […]

Texas was the only major producing state to report a decline in count of active oil and gas drilling rigs in the past week, according to Baker Hughes. As of July 16, there were 222 rigs in Texas (224 week ago, 104 year ago), 238 rigs in Permian Basin (237 week ago, 124 year ago), […]

U.S. Energy Information Administration said another small increase is expected next month in crude oil production in seven major U.S. shale regions – led again by Permian Basin. Permian will grow by 53,000 barrels per day to 4.700 million b/d from 4.647 million b/d. Production in seven regions will grow by 42,000 b/d to 7.907 […]

Houston-based Patterson-UTI said July 6 it has agreed to acquire San Antonio-based Pioneer Energy Services for about $295 million in stock and cash, which includes retirement of all debt of Pioneer. Transaction between the two Permian Basin operators is expected to close in 2021Q4. Patterson-UTI will add 16 super-spec drilling rigs from Pioneer to its […]