The seven-state south central region – including Texas, Oklahoma and Louisiana – led the gains in underground working natural gas storage capacity in lower 48 states in 2025. U.S. Energy Information Administration said last week underground natural gas storage provides a source of energy when demand increases to balance U.S. energy needs. EIA calculates storage […]
U.S. rig count of 563 tops year-ago total for first time in three years
Counts of active oil and gas drilling rigs in U.S. and Texas increased for the seventh straight week and for the fifth straight week in Permian Basin. And the U.S. count of 563 is above the year-ago count for the first time in three years since May 2023. Baker Hughes said in its weekly report […]
Rising Tide
It should surprise no one that this year’s UTPB Energy in Water Conference was the most well attended yet. Brian Ward of APATEQ observes, “There is no comparison to the expert discussions, the tremendous networking opportunities, and the hospitality is second-to-none.” Indeed. Robust panels of deeply committed and insightful professionals discussed the entire oil and […]
U.S. crude oil exports increase to record 5.6 million b/d in May
U.S. crude oil exports climbed to a record 5.6 million barrels per day in May as the U.S.-Israeli war in Iran increased demand for the nation’s oil from Asian and European refiners. Reuters reported Monday, “The U.S. and Israel’s war with Iran triggered the largest-ever disruption to the global energy market with refiners globally scrambling […]
Battalion Oil to begin drilling in Monument Draw development program
Houston-based Battalion Oil said last week it reached agreement with an unaffiliated industry partner to jointly fund an eight-well program in Monument Draw in Ward County in Delaware Basin of west Texas. Initial development will focus on a four-well pad scheduled to commence drilling in late Q2 or early Q3. Drilling will target third Bone […]
U.S. strategic petroleum reserves fall to 357 million barrels
Analysts expect withdrawals to continue this summer from the nation’s strategic petroleum reserves in Texas and Louisiana as the inventory approaches levels not seen in more than 40 years. Inventory as of May 29 was 357.1 million barrels at the four underground sites in Texas and Louisiana owned and operated by the U.S. Department of […]
Permian People: June 2026
Hirings, promotions, and other personnel matters in the nation’s biggest oil patch—or in companies who do business here in the Permian Basin. Matador Resources Company announced on April 27 two promotions, effective as of April 21. Christopher P. Calvert has been promoted to Executive Vice President and Chief Financial Officer and Glenn W. Stetson has been promoted […]
Sentinel Midstream begins construction on Texas Gulflink to load VLCCs
Dallas-based Sentinel Midstream said last month it started construction on Texas GulfLink, a deepwater crude oil export terminal about 30 miles off the coast of Freeport. It will be capable of fully loading very large crude carriers (VLCC) offshore and connect global markets to North American-produced crude oil. Funding is provided by the U.S.-Japan trade […]
Texas oil production fell to 5.78 million b/d in March, but increase expected
Crude oil production in Texas fell to a four-month low of 5.78 million barrels per day in March, according to U.S. Energy Information Administration. Production in New Mexico was steady at 2.31 million b/d. The two states are home to the prolific Permian Basin, the nation’s leader in crude oil production. EIA said U.S. oil […]
Permian Basin rig count increases for fourth straight week to 255
Drillers in Permian Basin added oil and gas rigs for the fourth straight week, according to the weekly report of May 29 by Baker Hughes. Permian now has 255 active rigs after adding 5 in the past week. It’s the most since August 2025, but down 23 or 8.27 percent from 278 rigs a year […]