Despite the global oil and gas industry experiencing a 15 percent quarter-on-quarter decrease in the total number of contracts, from 1,596 in Q3 2024 to 1,353 in Q4 2024, the overall contract value remained stable, driven by the announcement of some major contracts in Africa, revealed GlobalData, a data and analytics company. A recent GlobalData report reveals […]
“Nuclear Verdicts” are Driving Up Consumer Costs in Texas
Texans pay an average of $1,725 more for goods and services every year as the cost of lawsuits and massive court awards are passed on to consumers. This $1,725 “lawsuit tax”—which drives up the cost of everything Texans buy, from groceries to housing to insurance—is higher than the national annual average lawsuit tax of $1,666 […]
Gas Processing Looks to the Future
by Brian Meyer, PSB Industries With the gas processing industry poised for significant changes in the coming years, adopting new technologies is essential to ensure industry leadership and sustainable business models. The gas processing industry refines natural gas to make it usable for industrial, commercial, and energy-applications. That role has changed over time, as technologies […]
Eighty-Ninth Texas Legislature: One Month Countdown
With the session’s signature issue—school vouchers—seemingly settled, lawmakers have turned their attention to deadlines and their domino effects, including a coveted spot on the intent calendar, required for a bill to make it to the chamber floors. The 89th Regular Session convened on Jan. 14. Upcoming deadlines include: May 12:House bill first reading deadline. May […]
Towns and States Don’t Want Green Energy
The Trump Administration actions to scale back renewable energy capture headlines, but citizens are also pushing back. Efforts to deploy wind and solar systems face a rising tide of opposition in towns, counties, and states. Mandates for electric vehicles and electric home appliances are being challenged. The combination of rising local opposition and Trump funding […]
RRC Commissioner Cheers Repeal of Biden Natural Gas Tax
In March President Donald Trump signed the Congressional Review Act (CRA) repeal of the Biden administration’s natural gas tax. This legislative action nullifies the methane fee imposed by the Biden administration on oil and natural gas production, which would have driven up costs to producers and American consumers. “President Trump’s overturning of Biden’s natural gas […]
Rig counts unchanged – 289 in Permian, 274 in Texas, 100 in New Mexico
No new drilling activity was reported last week in Permian Basin, Texas and New Mexico, Baker Hughes said in its weekly report of April 25. The U.S. count of active drilling rigs grew by 2 in the past week to 587 (613 year ago). There were 289 rigs in Permian Basin (317 year ago), 274 […]
Permian Basin produced 22 percent of natural gas in U.S. in 2024
U.S. marketed natural gas production remained relatively flat in 2024, according to U.S. Energy Information Administration, and grew by less than 0.4 billion cubic feet per day compared to 2023. Production averaged 113 Bcfd, according to EIA’s latest Natural Gas Monthly. Production growth in Permian Basin was offset by declining production in Haynesville and flat […]
Facing market volatility, Diamondback ‘reviewing operating plan for 2025’
In an operational update for first quarter 2025, Midland-based Diamondback Energy said it is “closely monitoring the macro environment and is actively reviewing its operating plan for the remainder of 2025.” First quarter production was 475,944 barrels of oil per day (850,656 boed). The company’s announcement April 16 added, “Should low commodity prices persist or […]
How Low Could Crude Prices Go—Or Will They Fall at All?
President Trump is calling on OPEC to increase U.S. crude production, which could easily push crude prices lower into this second quarter of 2025, as supply would likely then outpace demand. Just how low could prices go—or will they fall at all? The answer depends on a confluence of factors, as supply is just one part […]