My name is Jeff Sparks and I am your new chairman at the Permian Basin Petroleum Association. I am humbled when I reflect on the truly great leaders the PBPA has had in the past. I will do everything I can to continue the great legacy of the PBPA. I will need to lean on […]
U.S. gas production from shale and tight formations declines in first 9 months
U.S. natural gas production from shale and tight formations, which accounts for 79 percent of dry natural gas production, decreased slightly in the first nine months of 2024 compared with the same period in 2023. If this trend holds for the remainder of 2024, U.S. Energy Information Administration said it would mark the first annual […]
ONEOK completes purchase of GIP’s interest in EnLink Midstream
Tulsa-based ONEOK has completed acquisition of the entire interest held by Global Infrastructure Partners in EnLink Midstream for total cash consideration of about $3.3 billion. The acquisition consists of 43 percent of EnLink’s outstanding common units ($14.90 per unit) and 100 percent interest in the managing member for $300 million. Pierce H. Norton II, president […]
Crude oil shipments drive record quarter for Port of Corpus Christi
Port of Corpus Christi and its customers moved 53 million tons through its ship channel in third quarter – a new quarterly record driven by increases in shipments of crude oil and dry bulk. Port officials said last week the 53 million tons moved in 2024Q3 was a 2 percent increase from the same period […]
Atlas Energy commissions Dune Express proppant conveyor system
Austin-based Atlas Energy Solutions recently announced the commissioning of its Dune Express, a 42-mile electric conveyor system “that is expected to transform proppant logistics in the Permian Basin.” Atlas said Oct. 10, “The system remains on time and on budget with the commercial transportation of proppant into the Delaware Basin scheduled to begin in late […]
Carbon Capture as an Investment Play
In recent articles I discussed some bullish oil and gas investment ideas in the Permian. Energy though, as you well know, is in a massive transition period. Over the next decade, three things will happen that are not in much doubt anymore. U.S. onshore oil production in the Lower 48 will peak and […]
Rig counts: Permian unchanged with 304, Texas down 2 to 283
Rig counts in Permian Basin and New Mexico remained flat in Baker Hughes’ latest weekly report while counts in Texas and U.S. declined. Baker Hughes said as of Oct. 18 there were 304 rigs in Perman Basin for the third straight week (down 8 from 312 year ago) and 99 in New Mexico for the […]
Axis Energy, Brigade Energy merge to form well servicing company
Dallas-based Axis Energy Services and Brigade Energy Services said recently they are merging to “form the nation’s largest and most innovative well servicing company with the best-trained workforce.” The merger “combines two high-growth organizations that have pioneered new ways to create value for an oil and natural gas industry seeking to become more efficient, agile […]
Kinder Morgan to expand Gulf Coast Express pipeline, add Permian takeaway
Houston-based Kinder Morgan said last week it made final investment decision on its $455 million expansion of Gulf Coast Express pipeline to enable customers to move substantial additional natural gas from Permian Basin. Kim Dang, CEO, said Oct. 16 the expansion “will increase natural gas deliveries by 570 million cubic feet per day from the […]
Life in the Merge Lane
The shale revolution of the previous decade began with mantras of “drill, baby, drill,” interspersed with “spend, baby, spend,” and “buy small, grow fast, sell big, make money!” That didn’t work, as the resulting river of shale oil flooded the market and crashed prices. Only a lucky few made big money on that plan. […]
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