Houston-based Targa Resources will build two additional cryogenic natural gas processing plants in Delaware and Midland basins. Each will have capacity of 275 million cubic feet per day. Falcon II plant in Delaware Basin is expected to begin operations in 2026Q2, and East Drive plant in Midland Basin is scheduled to go online in 2026Q3. […]
Coterra acquires assets in Permian Basin from Avant, Franklin Mountain
Houston-based Coterra Energy said this week it acquired assets in Permian Basin from Franklin Mountain Energy and Avant Natural Resources in two deals totaling $3.95 billion ($2.95 billion cash, $1 billion stock). Tom Jordan, chairman, CEO and president, said Wednesday, “These highly accretive acquisitions create an expanded core area in New Mexico that plays to […]
You’re Late
Summer is gone, temperatures are dropping, and we can reset the thermostat. Before you know it, the temperatures will drop to a tolerable level. There are no more hot weather conditions causing heat issues. Now is the time to prepare for winter. Remember that proper planning prevents poor performance. That also applies to safety. It […]
Matterhorn Express pipeline reaches total flow of 1.5 Bcfd for new high
Matterhorn Express reached another new high last week when total flows reached 1.5 billion cubic feet per day Nov. 6, according to East Daley Analytics. The new pipeline has current capacity of 2.42 Bcfd with five interstate interconnects. Other segments remain under construction. Matterhorn began delivering natural gas from Permian Basin to Gulf Coast in […]
Rig counts unchanged in Permian Basin, Texas and New Mexico
Rig counts in Permian Basin, Texas and New Mexico were unchanged in the past week. In its weekly report of Nov. 8, Baker Hughes said there were 303 rigs in Permian Basin for the second straight week (310 year ago), 281 in Texas for the second straight week (302 year ago) and 100 in New […]
Diamondback Energy increases 2024 production guidance after Endeavor merger
Midland-based Diamondback Energy said last week it increased its 2024 net production guidance to 587,000 to 590,000 boed from its previous guidance of 462,000 to 470,000 boed after its acquisition of Endeavor, which was completed in September. That includes guidance of 335,000 to 337,000 b/d of oil (up from 273,000 to 276,000). During third quarter […]
Railroad Commission requests additional funds for plugging wells, remediation
Railroad Commission of Texas requested an additional $100 million in emergency funding from the state to address the issue of leaking and erupting wells in Texas’ oil fields. Houston Chronicle and Texas Tribune reported after the commission submitted its annual budget request in August, executive director Danny Sorrell sent a letter in October to Lt. […]
Iron Oak Energy formed by merger of Covia Energy and Black Mountain Sand
Houston-based Covia Energy and Black Mountain Sand said last week they will merge in an all-stock transaction. The combined company will operate under the name Iron Oak Energy Solutions as a leading proppant supplier in North America with annual production of 30 million tons of sand. Assets include sand mines in Permian Basin and Eagle […]
Remember a Veteran on Veteran’s Day
Veterans Day falls on Nov. 11th. As I pondered how to commemorate this occasion, it occurred to me that one way is simply to tell a veteran’s story. If the desire is to honor veterans in general, then seeing one doing his sacrificial duty for his country is a good way to remind us of […]
Railroad Commission’s digital library reaches 83.4 million oil and gas records
Railroad Commission of Texas said last week it now has 83.4 million oil and gas digital records that can be search and viewed online. That includes 15 million records digitized in the past year as part of the commission’s goal to increase transparency and make information held by the agency available to the public. The […]