Both U.S. and Texas reversed two-month declines in Baker Hughes’ count of active oil and gas drilling rigs. As of Oct. 11, Texas had the largest gain among states in the past week with 6 rigs added to raise its total to 420 (532 a year ago). And across the U.S. there was 1 additional […]
Joint venture of Rattler, Oryx to acquire Reliance Gathering
Midland-based Rattler Midstream, subsidiary of Diamondback Energy, and Oryx Midstream, portfolio company of Stonepeak Infrastructure Partners, said their joint venture has agreed to acquire Reliance Gathering for $355 million. The deal is expected to close in 2019Q4. The acquired system includes more than 230 miles of gathering and regional transportation pipelines and about 200,000 barrels […]
Parsley, Jagged Peak reach merger agreement for Permian assets
Austin-based Parsley Energy and Denver-based Jagged Peak Energy said Monday they have reached a merger agreement calling for Parsley to acquire Jagged Peak in an all-stock transaction valued at $2.27 billion. Parsley will own 77 percent of the combined company after closing in 2020Q1. Parsley will have about 267,000 net acres in Permian Basin, including […]
Shrinking the Footprint
The business of environmental services keeps evolving into something more akin to a real business function, and less like an onerous duty. The trend is driven partly by conscience and partly by receptivity to change. The days in which “environmental” was a dirty word in the oil patch are long gone, say the experts. More […]
Henry Petroleum/Resources celebrates 50 Years of energy excellence.
The phrase, “She Said Yes!” has become a societal cue to celebrate an engagement. When it comes to Paula and Jim Henry, there’s Paula’s first “Yes!” that led to a wedding in 1964. And then there’s Paula Henry’s second big “Yes,” the “Yes” of 1969 that would mark the beginning of a 50-year-old story that […]
New Mexico governor hopes state becomes nation’s No. 2 oil producer
New Mexico Gov. Michelle Lujan Grisham said Tuesday in Santa Fe she wants industry officials in her state to help create new regulations for methane emissions in cooperation with her administration, and she hopes New Mexico overtakes North Dakota to become the nation’s No. 2 crude oil producer. She spoke to members of New Mexico […]
EPA approves Texas plan to limit ozone-forming emissions
Last month the U.S. Environmental Protection Agency approved Texas’ plan to limit emissions of substances leading to the formation of ground-level ozone, according to Oil & Gas Journal. The EPA approval Sept. 23 said the plan will allow Texas to “meet 2015 National Ambient Air Quality Standards and comply with the 1970 Clean Air Act.” […]
Texas Petro Index declines in August for sixth straight month to 202.9
Texas Petro Index by petroleum economist Karr Ingham declined for the sixth straight month in August. The index opened the year at 212.5 and climbed to a 2019 high of 213.2 in February before falling later to 205.5 in July and 202.9 in August (base 100 in January 1995). The index is based on a […]
More rigs idled as U.S. crude production reaches record 12.6 million b/d
Houston oilfield services firm Baker Hughes continues to report declining rig counts as U.S. crude oil production continues to set records. U.S. Department of Energy said estimated production last week reached a record of 12.6 million barrels per day of crude oil. And as of Oct. 4, Baker Hughes said in the past week another […]
Johnson & Lindley opens oilfield laboratory in Midland
Houston-based Johnson & Lindley last week opened a new oilfield laboratory in Midland, including 1,000 square feet of office space and 3,000 square feet of lab space. Sam Pruett, president of J&L Laboratories, told the Midland Reporter Telegram oilfield labs measure the health of wells. “The things we’re doing here bring a level of sophistication […]
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