XRI Holdings, LLC, a leading full-cycle water management and midstream company with fixed infrastructure owned throughout the Permian Basin, announced May 27 that it has acquired the produced water infrastructure assets of Hibernia Energy III, LLC, through its wholly-owned subsidiary, Celtic Disposal, LLC. Through this transaction, XRI will become the long-term provider to Hibernia of […]
$100 Oil on the Horizon?
By Steve Hendrickson, president, Ralph E. Davis (RED) Associates In late May, RED Associates made a case for significantly higher oil prices over the next few years due to a set of converging factors that would create a supply/demand imbalance, pushing oil prices above $100 per barrel. This argument could be summarized like this: resumption […]
Kimmeridge Publishes White Paper: “Why the Energy Industry Needs to Build its Own Carbon Offset Exchange”
June 3, 2021 NEW YORK and DENVER, June 3, 2021 /PRNewswire/ — Kimmeridge Energy Management Company, LLC (“Kimmeridge”), a private equity firm focused on upstream energy, with an investment philosophy underpinned by fundamental research, today published a white paper entitled: “Why the Energy Industry Needs a Carbon Offset Exchange.“ Contrary to popular belief, little has happened in the past year to […]
Oil and Gas Winning Streak Remains in Delicate Balance
Enverus, a leading global energy data analytics and SaaS technology company, has released its latest FundamentalEdge report. Entitled “A Delicate Balance,” the report focuses on oil and gas’ current winning streak and includes the company’s five-year market outlook, current view of the oil, natural gas and NGL markets, and the financials supporting them. According to […]
Economic Growth to Continue Through 2021
The economic recovery in the United States will continue for the rest of 2021, say the nation’s purchasing and supply executives in the Spring 2021 Semiannual Economic Forecast. Expectations for the remainder for 2021 have strengthened somewhat, compared to December 2020, as there is hope that the corner has been turned on the coronavirus (COVID-19) […]
Looking to the Future
The start of June marks the end of the 87th Regular Session in the Lone Star State and Representatives and Senators from across the state are returning to their communities to share the results of a legislative session that began with pandemic, met the challenges of an unexpected winter storm, and continued to persevere with […]
U.S. rig count up 93 percent since August 2020, Permian leads with 237
Baker Hughes’ count of active oil and gas drilling rigs increased again June 18 to 470 – a gain of 93 percent since low of 244 in August 2020. There were also 237 rigs in Permian Basin (236 last week, 132 last year), 221 rigs in Texas (219 last week, 111 last year) and 75 […]
Led by Permian, U.S. expects another increase in oil production in July
Crude oil production in seven major regions of the U.S. is expected to increase in July for the third straight month, according to the latest drilling productivity report from U.S. Energy Information Administration. An increase of 38,000 barrels per day is forecast for July to 7.803 million b/d from 7.765 million b/d in June. That […]
New Mexico reaches pre-pandemic level in crude oil production
Officials who testified at a legislative finance committee hearing this week said New Mexico is the first state to reach pre-pandemic level in crude oil production. Economist Dawn Iglesias said Wednesday in Ruidoso that in March 2021 New Mexico produced 36.5 million barrels of oil and 188 trillion cubic feet of natural gas – record […]
Select Energy Services begins construction on produced water facilities
Houston-based Select Energy Services, provider of water management and chemical solutions to the unconventional oil and gas industry, said June 16 it was awarded contracts for construction of three produced-water recycling facilities in Permian Basin (two in Midland Basin, one in Delaware Basin) that will decrease freshwater usage and waste disposal. The announcement said, “These […]
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