Texas Petro Index from Texas Alliance of Energy Producers posted its 18th straight monthly decline to 150.4 in August 2020 from 154.5 in July 2020 and 213.2 in February 2019 before current streak began. The index by economist Karr Ingham has lost about 30 percent of its value during this 18-month decline. The rig count […]

U.S. continues to rebound from declining counts of active oil and gas drilling rigs. Houston-based Baker Hughes said in its Oct. 2 report U.S. added rigs for the third straight week and fourth time in the last five weeks. There were 266 rigs in U.S. (up 5 in past week), 129 rigs in Permian (up […]

Matt Fox, COO of Houston-based ConocoPhillips, said last week at a Hart Energy conference in Houston that his company’s domestic focus currently is on Eagle Ford Shale “at a time when most large U.S. upstream players are tapped out in the south Texas play.” ConocoPhillips has more rigs in Eagle Ford than Permian Basin. “Most […]

Arlington, Texas-based U.S. Energy Development Corp. said recently it is acquiring an interest in a horizontal well project targeting oil-producing zones in Wolfcamp in Loving County owned by Shell Oil Co. The energy investment company pledged $8.5 million to develop the assets, including three horizontal wells, in the Columbia project. Drilling and completion operations are […]

Flaring intensity in Permian Basin, as measured by satellites, was estimated at 290 MMcfd in September, according to Enverus Intelligence and RS Energy Group. Flaring intensity fell about 175 MMcfd or 38 percent from August. Enverus added, “Activity has started to return to the basin, which may account for elevated flaring levels through the summer […]

Counts of active oil and gas drilling rigs increased for the second straight week in Texas and U.S. in the weekly report for Sept. 25 from Baker Hughes. Texas added 7 rigs to increase to 113, and U.S. added 6 rigs to increase to 261. In the past week Permian Basin added 2 rigs to […]

Dallas-based Matador Resources said Sept. 22 the results of the first four of its 13 Boros wells completed and turned to sales in its Stateline area in Eddy County include the Boros #215H with “the best IP test result that Matador has achieved for Wolfcamp A-lower formation and among the very highest IP test results […]

Houston-based Kinder Morgan placed the Lockridge natural gas pipeline into service in September, according to a filing Sept. 28 with the U.S. Federal Energy Regulatory Commission reported by Reuters. Lockridge is designed to remove gas from Permian Basin, where pipeline capacity has not kept up with the amount of gas associated with oil production. The […]