Houston-based Chevron said Friday its production in Permian Basin reached 1 million boed for the first time in company history during second quarter. That hits a target set by Chevron about five years ago. Mike Wirth, CEO, said, “Second quarter results reflect continued strong execution, record production and exceptional cash generation.” U.S. and worldwide production […]
LNG Changes Everything
Click here to listen to the Audio verison of this story! The exporting of liquefied natural gas (LNG) has changed the game for producers of those molecules in every basin in recent years. The rising export demand, starting when LNG exports began in 2016, has helped raise natural gas from the $2 per million […]
Phillips 66 says Dos Picos II gas processing plant in Midland Basin now online
Houston-based Phillips 66, in its second quarter financial report, said its Dos Picos II gas processing plant in Midland Basin recently came online ahead of schedule and on budget. Mark Lashier, chairman and CEO, said July 25, “Phillips 66 delivered strong financial and operating results across our integrated value chain, reflecting the continued execution of […]
Enterprise Products Partners expands, commissions plants in Delaware Basin
Record volumes from operations in Permian Basin and Haynesville helped Houston-based Enterprise Products Partners maintain its financial results in the first half of 2025. A.J. (Jim) Teague, co-CEO, said Monday, “We are excited for the opportunities the second half of 2025 is poised to present with approximately $6 billion of our organic growth capital projects […]
New Mexico side of Permian leads oil output growth from onshore federal lands
Production of crude oil from onshore federal lands has increased in recent years because of significant growth in drilling activity and operations. U.S. Energy Information Administration said Monday, “Most of this growth was in New Mexico from crude oil produced from federal lands in the Permian Basin.” According to data from Office of Natural Resources […]
WTI and Permian Gas Price Trends
In the second half of 2025, West Texas Intermediate (WTI) is expected to average around $66 per barrel, reflecting elevated geopolitical risk premiums—particularly due to tensions in the Middle East—while tempered by ample global supply growth. The U.S. Energy Information Administration (EIA) raised its mid-year forecast accordingly and now expects WTI to gradually decline to […]
Texas Legislature Stakes RRC’s Mission
The Texas Legislature took major action this legislative session with historic funding for the Railroad Commission of Texas (RRC), appropriating more than $593 million for the agency over the next two fiscal years. This appropriation includes $100 million for oil and gas well plugging to be used by the RRC’s State Managed Plugging Program (SMP) […]
Energy M&A Activity Attains New Heights
With energy demand increasing substantially in recent years, energy and utilities companies are preparing for immediate growth opportunities, and they are using mergers and acquisitions (M&A) as a tool to increase operational efficiencies, integrate new technologies, and create greater stability within the sector. Energy sector M&A is gaining significant momentum, with transaction volumes exceeding $57B in […]
Oxy’s Hollub Named Recipient of Award
WPC Energy announced June 30 that Vicki Hollub, President and CEO of Occidental (since 2016), has been selected as the recipient of the Dewhurst Award, the highest honor bestowed by WPC Energy, in recognition of Hollub’s leadership and contributions to the energy industry. The award will be formally presented during the 25th WPC Energy Congress, […]
Energy Group Lauds U.S. Senate Proposal
The Energy Workforce and Technology Council (EWTC) released on June 12 the following statement applauding the United States Senate Energy and Natural Resources Committee’s Reconciliation proposal: “This is a strong step toward restoring common sense in American energy policy,” said Energy Workforce President Tim Tarpley. “The Senate Energy and Natural Resources Committee’s proposal prioritizes American energy security […]
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