Cybersecurity threats and internet fraud are growing concerns for oil and gas service companies in the Permian Basin. While high-profile breaches involving major corporations make the headlines, cybercriminals are not targeting big companies exclusively. According to Accenture’s 2023 Cost of Cybercrime Study, 43 percent of cyberattacks target small businesses. In the oil and gas industry, companies often […]
Exxon, Occidental lead operators in rig counts in U.S., Permian Basin
ExxonMobil and Occidental Petroleum remain the leading operators in Permian Basin, according to the latest report by Enverus. In its summary of North American rig activity as of Oct. 17, Enverus said the latest weekly average for Exxon in Permian was 34.9 rigs followed by Occidental’s 20.3. Other leaders include Mewbourne Oil with 13.9 rigs, […]
U.S. adds drilling rigs while Permian Basin, Texas report declines in rig counts
Count of active drilling rigs in U.S. increased in the past week while counts declined in Permian Basin and Texas. In its weekly report of Oct. 24, Baker Hughes said there were 550 rigs in U.S. (up 2 in the past week from 548 and down 35 or 6 percent from 585 from a year […]
Delaware Basin operator Matador increases spending, production in third quarter
In its third quarter operations report, Dallas-based Matador Resources said it increased production and spending in 3Q, decreased 2025 completion cost per lateral foot, and raised 2025 production guidance. Matador reported record production of 209,184 boed for the quarter (119,556 b/d oil), which exceeded midpoint of guidance of 199,750 boed by 5 percent. And it […]
Multiple Factors To Boost Delaware Gas Producers
Click here to listen to the Audio verison of this story! Delaware Basin natural gas prices have suffered versus gas from other regions for years. The gap between Henry Hub and Waha Hub pricing is well known, by now. The primary factor driving Waha Hub discounts has been insufficient pipeline takeaway capacity relative to rapidly […]
Industry pays $444 million in oil, $224 million in gas taxes in September in Texas
Citing data from the Texas comptroller’s office, Texas Independent Producers and Royalty Owners Association said tax contributions by the state’s oil and gas industry remained high in September despite “shifting industry and market conditions.” Texas energy producers paid $444 million in oil production taxes and $224 million in natural gas production taxes for the month. […]
Industry employment up 0.3 percent this year despite ‘mounting headwinds’
Texas Independent Producers and Royalty Owners Association said last week the trajectory of estimated employment in the state’s upstream oil and gas sector through September shows “a precarious balance between operational resilience and mounting headwinds.” Texas crude oil and natural gas extraction jobs were projected to dip modestly to 69,650 in September – down 0.5 […]
Northern Oil and Gas makes acquisitions in Permian, three other basins
Minneapolis-based Northern Oil and Gas said this week it made significant progress in its ground game acquisitions in third quarter across its platform in four basins, including Permian Basin in west Texas. Northern’s acquisition included 22 transactions and 3 trades that added more than 2,500 net acres and 5.8 net wells for $59.8 million. The […]
WaterTechtonics, Clearvale Capital form WT Oil & Gas to serve Permian
WaterTechtonics and Clearvale Capital recently launched a new subsidiary, WT Oil & Gas, to deliver high-volume, high-performance water treatment solutions to the oil and gas industry. The new company will be based in Midland and serve upstream and midstream operators across the Permian Basin with advanced technologies for produced water recycling and reuse. Jason Mothersbaugh, […]
AI, Data Centers, Rig Counts, and No Complaints
There is a huge amount of news lately pertaining to our industry. Okay, it is really all about AI and the explosion of data centers. The #1 most talked about topic these days is data centers. There is no one in second place. Nothing else seems to matter. Power for data centers will need be the greenest form of […]