Governor Greg Abbott was in Midland recently to sign new legislation for oilfield theft protection in the Permian Basin. At Permian Basin Petroleum Museum, Abbott signed several bills that he said will bring “the full weight of the law to crack down on oil theft in the Permian Basin to protect the critical role energy […]
Hitting the Mark: A Father’s Day Tribute
Click here to listen to the Audio verison of this story! This month being the month that holds Father’s Day (June 15), I’m going to share a story of a father. It just happens that the story I know best is the one I know from my own dad, Jess Mullins, Sr. He’s been […]
Inventory of proposed gas power plants include multiple projects in west Texas
The inventory of proposed gas power plants in Texas as reported Wednesday by Environmental Integrity Project includes multiple plants in Permian Basin. The new plants and expansions are planned for Odessa in Ector County, Seminole in Gaines County, Abernathy in Hale County, Westbrook in Mitchell County, Fort Stockton in Pecos County, Pecos in Reeves County, […]
EIP report: Developers plan more than 100 new gas power plants in Texas
Environmental Integrity Project, a Washington, D.C.-based nonprofit, said Wednesday companies plan to build more than 100 new gas-fired power plants in Texas in the next five years to meet enormous electrical demand to support data centers for artificial intelligence, population growth and extreme weather. The list of plants is comprised of 108 proposed new gas […]
ONEOK acquires remaining 49 percent interest in Delaware Basin JV
Tulsa-based ONEOK said June 3 it acquired the remaining 49.9 percent interest in Delaware G&P, Delaware Basin joint venture, from NGP XI Midstream Holdings for $940 million ($530 million cash). Delaware Basin JV owns natural gas gathering and processing facilities in Delaware Basin in west Texas and southeast New Mexico with total processing capacity of […]
Financial Maturity or Lack of
My Ethics class interviewed a successful Harvard MBA who also had a law degree from another Tier One university. He worked for many years in the oil and gas industry, including, at one point, working for three Fortune 500 Corporations in Midland, Houston, San Antonio, India, and Abu Dhabi. Our interviewee, who wants to be […]
What’s So Smart About Artificial Intelligence?
Click here to listen to the Audio verison of this story! The boom/bust cycle has challenged the oil industry in many ways over the decades. Since the turn of the millennium, the newest challenge has been how to adopt new technology when there’s the frantic activity of a boom one minute and the layoffs and […]
Permian Basin drives growth in tight oil production in U.S. onshore lower 48
Onshore crude oil production in U.S. lower 48 states has more than tripled since January 2010, according to U.S. Energy Information Administration, driven by growth in tight oil production in Permian Basin. Onshore production includes both legacy oil production primarily from vertically drilled wells and newer tight oil production primarily from horizontally drilled wells. EIA […]
DOE cancels 24 financial awards for clean energy projects, including 4 in Texas
Chris Wright, U.S. energy secretary, said last week the U.S. Department of Energy is cancelling 24 awards issued by the Office of Clean Energy Demonstrations totaling more than $3.7 billion in taxpayer-funded financial assistance. Sixteen of the 24 awards were signed between election day Nov. 5, 2024, and inauguration day, Jan. 20, 2025. The awards, […]
Diamondback subsidiary Viper acquires Sitio Royalties in $4.1 billion deal
Midland-based Viper Energy, subsidiary of Diamondback Energy, said Tuesday it agreed to acquire Sitio Royalties in an all-equity transaction valued at $4.1 billion. The agreement, which includes Sitio’s $1.1 billion of debt, is expected to close in 2025Q3. Diamondback will own 41 percent of Viper’s outstanding common stock after closing.” “This combination creates a leader […]
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