Permian Basin added crude oil and natural gas drilling rigs for the 10th straight week, and U.S. added 13 rigs in the past week for its biggest gain since January 2020, according to the April 1 report from Baker Hughes. Permian has 224 rigs (up 3 in past week), Texas has 209 rigs (up 4 […]
Earthstone Energy acquires 20,300 net acres in Irion County in 2 deals
The Woodlands-based Earthstone Energy said April 1 it agreed to two deals to acquire privately held, operated assets in Midland Basin from Tracker Resource Development and an affiliate and also from affiliates of Sequel Energy Group. Aggregate purchase price is about $126.5 million. Assets include low-cost, stable, producing assets in complementary location to Earthstone operated […]
Pioneer acquires DoublePoint Energy to add 100,000 boed, 97,000 acres
Dallas-based Pioneer Natural Resources said April 1 it agreed to purchase leasehold interests and related assets of Fort Worth-based DoublePoint Energy in a transaction valued at $6.4 billion, including $900 million of debt. Enverus said it’s the largest acquisition of a U.S. exploration and production private company since 2011 and one of the largest private […]
The Legislature: An Appraisal
“Always do right. This will gratify some and astonish the rest.” —Mark Twain What about the 2021 Texas Legislature and your employees? As of February 1, 2021, more than 45 bills have been filed in the Texas Legislature addressing employers and employees’ requirements. There are still no bills relating to non-competition or non-solicitation agreements […]
The Deepest Dip
On April 20, 2020, the benchmark price of oil—WTI—fell to an unprecedented level of -$37.61 for May 2020 futures contracts. While this event was not on the level of the invasion of Normandy or the release of the next iPhone version, its shock waves ripped through oil and gas boardrooms around the world—mostly because it […]
New Mexico produces record amounts of oil, gas, but growth rate declines
New Mexico reported record production of crude oil and natural gas last year, but the rate of year-to-year growth declined. The state’s Oil Conservation Division said New Mexico produced 367.8 million barrels of oil in 2020 – an increase of 10.8 percent from output of 331.8 million in 2019. The rate of increase from 2018 […]
Permian Basin reaches 221 by adding rigs for ninth straight week
Increasing crude oil prices continue to stimulate drilling activity. Houston-based Baker Hughes said as of March 26 Permian Basin added rigs for the ninth straight week. With an additional 5 rigs in the past week, Permian Basin has 221 rigs after starting 2021 with 175. There also are 205 rigs in Texas (202 previous week, […]
NuStar Energy to expand refined products pipeline to Albuquerque
San Antonio-based NuStar Energy said March 3 it will develop 6,000 barrels of incremental pipeline capacity for additional refined products, including gasoline, diesel and jet fuel, into the Albuquerque region. NuStar will upgrade pump stations in a pipeline system it jointly owns with Phillips 66 Partners that transports refined products from Amarillo to Albuquerque. The […]
Freehold Royalties closes on royalty acquisitions in Permian Basin
Calgary-based Freehold Royalties said March 4 it closed on two additional royalty transactions for $3.8 million to complement its positions in Permian Basin and Bakken. These assets are expected to add 75 boed to the company’s average 2021 production. The two acquisitions follow a U.S. royalty buy for $58 million that closed Jan. 5 weighted […]
U.S. to Drive Pipeline Growth
The United States is expected to drive global growth in crude oil trunk/transmission pipelines by 2024, according to GlobalData, a leading data, and analytics company. The United States will account for almost one-fourth of the total pipeline length growth by 2024. With expected length additions of 4,900 km from projects that have received approval or […]
- « Previous Page
- 1
- …
- 194
- 195
- 196
- 197
- 198
- …
- 348
- Next Page »