America is the world’s leading producer of oil and natural gas. The oil and gas industry supports millions of American jobs, provides lower energy costs for consumers, and ensures our energy security. The Trump Administration and the Department of Energy have shown commitment to supporting our oil and gas industry so that we continue to […]
Xcel Energy completes largest wind farm in New Mexico
The largest wind farm in New Mexico was scheduled to go online about Jan. 1, 2021, as work on the project near the Texas-New Mexico border was completed. Associated Press reported Dec. 16 that Xcel Energy installed 240 turbines on Sagamore wind project in a $900 million project that spans 100,000 acres. It will be […]
Port of Corpus Christi approves agreement for Bluewater offshore terminal
Commissioners of Port of Corpus Christi last month approved an agreement with Bluewater Texas Terminal, joint venture of Phillips 66 and Trafigura, to operate an oil export terminal capable of loading 16 VLCCs per month with crude oil from Permian Basin and Eagle Ford. The agreement allows Bluewater to build offices and monitoring station on […]
Permian Basin rig count falls to 173, Texas count up 1 to 159
Permian Basin’s streak of nine straight weeks of adding active oil and gas drilling rigs came to an end last week when its count fell by 1 to 173 rigs. U.S. and Texas counts increased. Baker Hughes said as of Dec. 23 there were 159 rigs in Texas (158 previous week), 65 rigs in New […]
DOE extends LNG export authorizations through 2050
U.S. Department of Energy said last month it has extended the terms of seven LNG export authorizations through 2050, including Golden Pass facility under construction in Sabine Pass and Texas LNG project proposed for Brownsville. “Critical to our nation’s energy independence are the prospects presented by these long-term LNG export extensions,” Mark Menezes, U.S. deputy […]
Earthstone to acquire IRM assets in Midland, Ector counties
The Woodlands-based Earthstone Energy said Dec. 17 it is acquiring Independent Resources Management and its Midland Basin assets. Purchase price is $185.9 million, including $135.2 million in cash (as of Nov. 30) and 12.7 million shares of Earthstone Class A common stock valued at $50.8 million (as of Dec. 16). Transaction is expected to close […]
Getting Our Story Told
Now that Election Day has passed and most races have been called, we have a much clearer picture of what 2021 will look like. Energy and the environment were leading topics in races around the country. One thing that became abundantly clear during this election season is that our industry has been used to highlight […]
Rystad: Water disposal in Permian Basin to reach record high in 2020Q4
Oslo-based energy research company Rystad Energy said Dec. 11 water disposal in Permian Basin is likely to hit an all-time high in 2020Q4 by exceeding 1.3 billion barrels. Rystad said, “Behind the expected expansion is a combination of factors, including a rapid recovery in activity, a steady clip of enhanced oil recovery projects, and base […]
EIA: Production of oil, natural gas to continue to decline in January
Production of oil and natural gas in the nation’s seven major producing regions is again forecast to decline in January 2021 by U.S. Energy Information Administration. In its drilling productivity report of Dec. 14, EIA said production of oil will decline by 137,000 barrels per day in January from December to 7.438 million b/d. Permian […]
Permian Basin: Only U.S. producing region to add rigs last week
Texas and New Mexico were the only major producing states and Permian Basin was the only region to add oil and gas drilling rigs last week. Baker Hughes said as of Dec. 18 there were 174 rigs in Permian (168 previous week), 158 in Texas (155 previous week), 66 in New Mexico (60 previous week) […]
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