Commissioners from the Public Utility Commission of Texas recently selected 17 companies from among 72 applicants to consider for low-interest loans for natural gas power plants in Texas.  They include four in Permian Basin.  Commissioners selected proposals capable of generating enough electricity (9,781 megawatts) to power about 2.4 million homes for three-percent loans from Texas […]

Oklahoma and Louisiana contributed 3 additional rigs each to a gain of 8 drilling rigs in U.S. last week.   Baker Hughes said as of Sept. 13 there were 590 oil and natural gas rigs in U.S. (up 8 from 582 previous week, down 51 from 641 year ago).  Also, there were 306 rigs in Permian […]

Viper Energy, subsidiary of Midland-based Diamondback Energy, and operating subsidiary Viper Energy Partners said last week they are acquiring mineral- and royalty interest-owning subsidiaries of Tumbleweed Royalty IV for $461 million and 10.1 million units of Viper Energy Partners.  Closing is expected in 4Q. Viper also said it earlier closed two transactions of certain mineral- […]

The oil and natural gas industry has dominated Houston’s job market for decades, but Houston Chronicle reports the industry’s reign over Houston is “waning as the industry consolidates and slashes its spending.” Reuters said, “Houston is expected to take a significant hit as Shell moves to cut 20 percent of its global oil and gas […]

ExxonMobil leads in drilling rig count in both U.S. and Permian Basin, according to a report Tuesday from Enverus.  As of Sept. 6, Exxon operated 39 rigs across the U.S. followed by ConocoPhillips with 30, Occidental Petroleum with 25, EOG Resources and Mewbourne Oil each with 24, Devon Energy with 22, Continental Resources with 21 […]

Houston-based APA Corp. said Tuesday it agreed to divest certain non-core producing assets in Permian Basin to an undisclosed buyer for $950 million.  The properties in Central Basin platform, Texas and New Mexico shelf, and Northwest shelf represent current net production of about 21,000 boed (57 percent oil).  APA said proceeds will be used primarily […]

Railroad Commission of Texas said last week it plugged 1,012 orphan wells using state funds in fiscal year 2024 to surpass its goal of 1,000.  The commission said it exceeded its goal for the eighth straight year.  The state funds are collected from oil and gas industry revenue, including well plugging reimbursements, fees and bonds, […]

Federal Energy Regulatory Commission will conduct a hearing Thursday at 4:30 p.m. at Lawndale Community Center in Odessa on the proposed DeLa Express pipeline.  FERC is gathering public input and comments to prepare an environmental report for the proposed natural gas pipeline project.  FERC is required to seek and consider public comments in its decision-making […]