Public Utility Commission of Texas last week approved Permian Basin Reliability Plan “to ensure the long-term energy reliability and economic prosperity of Texas.” The plan addresses concerns over insufficient transmission access in the basin. Texas Oil and Gas Association, in its announcement of the approval Sept. 26, said, “Infrastructure has not kept pace with the […]
Permian People – October 2024
Hirings, promotions, and other personnel matters in the nation’s biggest oil patch, the Permian Basin—or in companies who do business here. U.S. Energy Development Corporation (U.S. Energy), an E&P with projects throughout North America, on Aug. 7 promoted of Mark Lillis to Director of Investor Relations, a move intended by management to “reinforce their core […]
Texas again only major producing state to add drilling rigs in past week
For the second straight week, Texas was the only major producing state to add oil and gas drilling rigs. Houston-based Baker Hughes said as of Sept. 27 there were 277 active rigs in Texas (up 1 from 276 previous week, down 27 from 304 year ago). Also, there were 306 rigs in Permian Basin (down […]
Midland’s Christi Craddick faces challengers for seat on Railroad Commission
One of three seats on the Railroad Commission of Texas will be decided in the state’s general election Tuesday, Nov. 5, 2024. The seat is currently held by Christi Craddick, R-Midland, who is chairman of the commission. An oil and gas attorney, she is seeking her third six-year term. Candidates on the ballot also include […]
Vivakor closes deal for Endeavor Crude, other midstream subsidiaries
Dallas-based Vivakor said last week its acquisition of Endeavor entities, including Endeavor Crude and Meridan Equipment, will close Tuesday. Vivakor’s acquisitions also will include Equipment Transport and Silver Fuel Processing with a total price of $120 million. James Ballengee, chairman, president and CEO of Vivakor, said Sept. 24 of the company’s new assets, “They strategically […]
Global O&G Contracts Value Surges in Q2
Global oil and gas contract activity received a boost from Petrobras’ key upstream contracts in the second quarter of 2024. The industry witnessed a notable 47 percent quarter-on-quarter increase in total disclosed value to reach $54.91 billion in Q2 2024 from $37.3 billion in Q1, reveals GlobalData, a data and analytics company. GlobalData’s latest report, “Oil […]
U.S. Oil and Gas Sector Defies Price Plunge
The EY US oil and gas reserves, production, and ESG benchmarking study reveals an industry demonstrating remarkable resilience and financial performance, despite facing a challenging economic landscape in 2023. The study, released Aug. 20, examines the 50 largest publicly traded exploration and production (E&P) companies, highlights the industry’s ability to navigate price fluctuations and maintain a […]
MidStream Company Expands Midland Basin Gas System
Brazos Midstream announced Aug. 15 the completion of several significant milestone projects consisting of major new-build pipelines and processing facilities located in the core of the Midland Basin, one of the most active oil and gas producing regions in the United States. Brazos’ buildout of new Midland Basin gas midstream infrastructure is anchored by the […]
Whitley Penn Named to a “Top 100”
Whitley Penn has been named a “Top 100 Firm” by INSIDE Public Accounting (IPA), ranking 35th in the annual ranking of the largest accounting firms in the nation. “It fills us with pride to be acknowledged as one of the Top 100 Firms by IPA,” stated Larry Autrey, CEO and Managing Partner of Whitley Penn. “This honor is a […]
Analyst Firm Ranks Drillers
Enverus, an energy-dedicated SaaS company that leverages generative AI across its solutions, has released on Aug. 27 a list of top drillers and customer rankings in the United States, as well as detailed drilling rig analytics. Included in the release is a compilation of exclusive tables showing the most active drillers by footage, ranking both the […]
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