The Houston Chronicle said this week there have been no filings to the state for horizontal drilling permits in more than a month in the Barnett Shale in north Texas, the so-called “birthplace of the shale revolution.” The Chronicle said May 13 that Fort Worth-based TEP Barnett USA was the last company to seek a […]
Spur Energy, KKR to acquire Permian northwest shelf assets
Houston-based startup Spur Energy Partners and investment firm KKR said Tuesday they formed a partnership to acquire Permian northwest shelf assets of Houston-based Percussion Petroleum and other assets across the lower 48 states. The acquisition includes interests in 380 gross producing wells and 22,000 net acres in the Yeso formation in Eddy and Lea counties […]
Mechanically Adept
By Paul Wiseman With more accurate computer modeling for drill sites connected to long lead times (6-12 months) for procurement of large equipment like gas compressors, long-term planning is both possible and necessary. That plus the emergence of gas lift compression as a preferred artificial lift solution has made compression services companies like CSI Compressco […]
DOE issues approval for Sempra LNG export facility in Port Arthur
The U.S. Department of Energy issued approval May 2 for Sempra Energy’s proposed installation at Port Arthur in Jefferson County to export LNG to countries that do not have a free trade agreement with the U.S. San Diego-based Sempra received permission to export as much as 1.91 Bcfd of domestically produced LNG to non-FTA countries […]
Chevron completes purchase of Pasadena Refining System
Chevron USA completed its purchase from Petrobras America of all outstanding shares and equity interests of Pasadena Refining System, including a refinery in Pasadena, and PRSI Trading for $350 million. The Pasadena complex of 466 acres includes a refinery of 110,000 b/d, 5.1 million barrels of oil and products storage capacity, marine terminal and logistics […]
U.S. marks 13 consecutive months as net exporter of natural gas
The U.S. Energy Information Administration said May 1 that February marked 13 consecutive months for the nation’s natural gas exports to exceed imports. The U.S. exports natural gas by pipeline to Canada and Mexico and increasingly exports LNG to several other countries. Exports to Canada tend to be seasonal to be used as heating fuel, […]
Texas Petro Index for March up 9.4 percent in past year
The Texas Petro Index prepared for March by Amarillo petroleum economist Karr Ingham remains relatively flat but above the index of a year ago. The March index was 212.4 for a decline of less than a point from 213.2 in February. The index was 212.2 in December and 212.5 in January, but 194.2 in March […]
Permian counties in NM gain rigs, Texas declines in past week
For the second straight week, the count of active oil and gas rigs remained below 1,000 in U.S. and below 500 in Texas, according to Baker Hughes. As of May 3, there were 990 rigs in U.S. (991 a week ago, 1,032 a year ago) and 484 in Texas (491 a week ago, 515 a […]
Pioneer divests Eagle Ford assets to become pure-play Permian company
Irving-based Pioneer Natural Resources said in its first-quarter earnings report May 6 that it closed on sale of 59,000 net acres and remaining assets in Eagle Ford Shale to Houston startup Ensign Natural Resources to become a pure-play Permian Basin company. The assets are located primarily in Bee, DeWitt, Karnes and Live Oak counties and […]
Magellan Midstream to construct terminal in Midland
Tulsa-based Magellan Midstream Partners said in its first-quarter earnings report May 1 that it will construct a $30 million refined products storage and distribution terminal in Midland. Construction is expected to begin immediately, and operations are expected to begin in mid-2020. The new terminal will connect to the company’s refined products pipeline system that transports […]
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