Houston-based private equity firm Post Oak Energy Capital said last week it completed an equity commitment to newly formed Ichthys Energy Partners, a Dallas-based exploration and production firm. Ichthys will seek to execute a growth strategy focused on operated and non-operated leasehold acquisitions and strategic partnerships in Permian Basin. Michael Poynter, CEO of Ichthys, said […]
Producers Midstream to construct new natural gas system in Lea County
Dallas-based Producers Midstream II, portfolio company of Tailwater Capital, said last week it is constructing a new gathering, treating and processing system in Lea County, N.M., in the core of the Delaware Basin. The initial build-out will use existing plant, treating and compression assets owned by the company. The new system is expected to begin […]
Open Enrollment
It is time for many employers to begin open enrollment for their employees’ insurance and other benefits for the 2025 year. Are you ready? Have you met with your broker and rebid your current product offerings? Have you met with at least one other broker to see if your current broker continues to be […]
Production taxes from oil, gas benefit education, transportation, “rainy day fund”
Texas comptroller Glen Hegar recently announced the state’s final tax revenues for fiscal year 2024. It included about $8.4 billion in production taxes from the oil and gas industry that will be used to fund major parts of the state budget. A quarter of this revenue is earmarked for public education which this year will […]
Rig counts down in U.S., Permian, New Mexico, but up in Texas to 279
The counts of active drilling rigs from Baker Hughes declined for the third straight week in U.S. and second straight week in Permian Basin. But the count in Texas posted its third straight gain. In the weekly report of Oct. 4, there were 304 rigs in Permian Basin (down 2 from last week, down 5 […]
Railroad Commission extends comment period to Oct. 15 for new regulations
Railroad Commission of Texas has extended the comment period for proposed new rules for the agency’s regulation of waste management facilities. It’s the first overhaul of the commission’s waste management rules in four decades. The deadline was extended to Oct. 15 from the original deadline of Sept. 30. The commission said groundwater protection is a […]
Texas Pacific Land acquires additional oil, gas interests in Permian Basin
Dallas-based Texas Pacific Land Corp. said last week it acquired additional oil and natural gas mineral and royalty interests in Permian Basin for $286 million. The interests span across about 7,490 net royalty acres primarily in Martin (2,220 acres) and Midland (2,080 acres) counties. TPLC said more than 80 percent of the acquired assets are […]
PBPA Annual Meeting in Pictures
MIDLAND, TEXAS—A day of speakers, panels, and networking filled this full-day session of the Permian Basin Petroleum Association’s Annual meeting, held Sept. 12 in this oil capital of West Texas. On the night previous, locals and early arrivals to the event gathered at the Petroleum Museum for a lavish welcome reception. We share here a […]
Sizing up 2025: PBPA’s Annual Meeting Takes Aim on the Future
MIDLAND, TEXAS—A slate of speakers and panels that ran continually from 7:30 a.m. to 2 p.m. on Sept. 12 concluded what organizers and participants deemed a successful and productive Annual Meeting for the Permian Basin Petroleum Association, held in the Petroleum Club here in this oil capital of West Texas. On the night previous, […]
EPA accepting comments on Stratos project near Odessa to capture, store CO2
U.S. Environmental Protection Agency is accepting public comments on Stratos, a proposed project in Ector County southwest of Odessa near Penwell to capture and store an estimated 722,000 metric tons of carbon dioxide in three injection wells 4,400 feet underground. The project of Houston-based Occidental Petroleum Corp., under review for two years, would be the […]
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