Katy-based U.S. Silica said last week its previously announced agreement to be acquired by funds managed by affiliates of investment firm Apollo Global Management was approved by the company’s stockholders. Closing of the all-cash transaction valued at $1.85 billion is expected by the end of 2024Q3. U.S. Silica is a diversified industrial minerals company, logistics […]
Clean Energy Fuels starts construction of RNG plant in Dimmitt
Newport Beach-based Clean Energy Fuels said Wednesday it started construction of a renewable natural gas production facility at South Fork Dairy in Dimmitt in Castro County. Groundbreaking occurred for a facility that will produce RNG, an ultra-clean transportation fuel that is made from organic waste and receives a negative carbon intensity score. South Fork Dairy […]
Let Energy Freedom Ring
For years, the Permian Basin Petroleum Association has been the leading proponent of domestic energy, rallying around our nation’s need to establish a domestic energy policy that promotes places like “Midland, not Moscow.” And this July while we celebrate the 248th anniversary of the founding of our United States, our efforts to encourage natural resource […]
Rig Counts, Consolidation, Super DUG, and E-Fleets
U.S. Production. Rystad Energy is out with a U.S. production forecast through 2025. Rystad Energy expects onshore U.S. Lower-48 production growth to be concentrated in the Permian. After growing about 350K bpd between the fourth quarter of 2022 and the fourth quarter of 2023, this year Rystad Energy expects fourth quarter combined Bakken, Eagle Ford, and […]
Counts of frac crews in top 4 regions grow in past week, Permian leads with 114
Enverus said last week the number of frac crews working in Permian Basin grew as of June 28 to 114 from 108 the previous week. The count is down from 139 a year ago. Other leading regions include Rockies with 30 crews (up from 28 previous week, down from 69 a year ago), Gulf Coast […]
Permian Basin reports 305 rigs for the fourth straight week, U.S. adds 2 rigs
The weekly rig count by Houston-based Baker Hughes shows 305 rigs in Permian Basin for the fourth straight week. It’s been 13 weeks since Permian recorded an increase (up 2 to 318 April 19). A year ago Permian reported 333 rigs. Also, U.S. added 2 rigs to 586 (669 a year ago), and there were […]
Energy Transfer, Sunoco form joint venture for gathering assets in Permian
Dallas-based Energy Transfer said last week it formed a joint venture with Sunoco to combine the two companies’ crude oil and produced water gathering assets in the Permian Basin. The JV will be operated by Energy Transfer and will include more than 5,000 miles of crude oil and water gathering pipelines and crude oil storage […]
The “Brain Drain” Issue
The Permian Basin is the undisputed leader in American oil and natural gas production—with all due respect to our colleagues and compatriots in North Dakota. With this stature comes enormous responsibilities, not just from the oil and gas industry and its workers, but across the states and counties of the Permian as well. Being so […]
Commission solicits independent peer review of water protection programs
Geologists and engineers from Railroad Commission of Texas will consult with environmental experts from other states to analyze an agency program that protects underground sources of drinking water. The commission said last week it requested the Groundwater Protection Council, an organization of groundwater experts, to conduct an independent peer review of its Class II underground […]
APA closes sale of non-core assets in Midland Basin, Eagle Ford to reduce debt
Houston-based APA Corp. said last week its recent agreements to divest non-core assets in Permian Basin and Eagle Ford closed earlier than expected and for less than the $700 million expected. Closing had been expected in third quarter for 24,000 net royalty acres in several counties in Midland Basin (2,000 boed net in 1Q) and […]
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