Houston-based Nacero said last week it will build in two phases a $6.5-to-$7.0 billion lower-carbon gasoline manufacturing facility near Penwell in Ector County. Odessa American said the 2,600-acre site about 15 miles west of Odessa was one of three finalists for the plant’s location. It will be the first in the U.S. to produce gasoline […]
A Better Way
Politically, energy transition has been a topic of high importance for many around the country. This has been largely spurred by the idea that hydrocarbon-based energy is bad for the environment. Rarely is it discussed by those with complaints about-hydrocarbon based energy what the benefits are to society, some of which are often taken greatly […]
Diamondback revises 2021 plans with no production growth
Midland-based Diamondback Energy revised 2021 capital guidance after closing acquisitions of 32,500 net acres in Midland Basin from Guidon Operating and 95,000 net acres in Williston Basin from QEP Resources. Production in 2021 will be flat with 2020Q4. CEO Travis Stice said April 12, “While commodity prices have improved, global spare oil production capacity remains […]
Drilling resumes recovery with 3 rigs added in Permian, 7 more in U.S.
Oil and gas drilling resumed its steady recovery last week in Permian Basin, Texas and U.S. Baker Hughes said April 16 there were 227 rigs in Permian (224 previous week), 214 rigs in Texas (209 previous week), 70 rigs in New Mexico (unchanged) and 439 rigs in U.S. (432 previous week). Louisiana remains No. 3 […]
Rystad: Associated wellhead gas flaring declines in Permian in March
Oslo-based research firm Rystad said April 9 associated wellhead gas flaring in major U.S. liquids regions, including Pemian Basin, posted another sequential decline in March. Permian flaring intensity fell to 1 percent as of January, but satellite data revealed a clear spike for February during the winter weather crisis before resuming a decline in March. […]
Ring Energy begins next phase of Permian northwest shelf drilling
The Woodlands-based Ring Energy said April 14 it recently initiated the next phase of its Permian Basin northwest shelf drilling program in Yoakum County. Drilling of the first well is complete, drilling of the second well is underway, and operations on the third well are expected to begin in late April. Each well targets San […]
Oil production to increase in U.S. in May for first time this year
U.S. Energy Information Administration said in its latest drilling productivity report April 12 that it expects crude oil production to increase in May for the first time this year. Modest declines in four of the seven major producing regions will be offset by a gain of 52,000 b/d in Permian Basin to 4.466 million b/d. […]
Meeting the Challenge
On Sunday, February 14, as families left church and began looking ahead to what the expected cold snap would bring them, arctic winds were barreling down from the north and bringing with them sustained cold, freezing rain, and concentrations of more than a half foot of snow in many places. In short, what this storm […]
Responding in a Time of Need
by PBPA Staff In early February, reports began to circulate that Texas was going to be hit by a severe winter weather event. Before the storm hit, the Electric Reliability Council of Texas (ERCOT) declared on February 8th that the event would “bring Texas the coldest weather we’ve experienced in decades.” At the depths of […]
Texas Petro Index increases in February after 23 months of declines
After 23 months of declines, the Texas Petro Index from Texas Alliance of Energy Producers recorded a modest increase in February to 138.8 from 131.5 in January. The alliance said it marked “possible ending of contraction that began pre-covid, but then worsened in 2020 as a result of covid and the corresponding economic upheaval. Even […]
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