U.S. Energy Information Administration said last week the nation’s refining capacity increased in 2023 on expansions at existing facilities.  In its annual Refinery Capacity Report, EIA said July 30 U.S. operable atmospheric crude oil distillation capacity totaled 18.4 million barrels per calendar day at the start of 2024 – a 2 percent increase compared to […]

Post Oak Minerals V, affiliate of Houston-based Post Oak Energy Capital, said last week it has completed 10 acquisitions this year primarily in Permian Basin totaling more than $475 million.  The assets include more than 27,400 net royalty acres of mineral and royalty interests in Permian Basin and 24,000 net royalty acres in Midland Basin […]

Baker Hughes continues to report declining counts of active oil and gas drilling rigs in U.S., Texas and Permian Basin.  In its weekly report of Aug. 2, the Houston-based services firm said there were 586 rigs in U.S. (down 3 from previous week, down 73 from year ago), 274 in Texas (down 2 from previous […]

WhiteWater Midstream, MPLX and Enbridge said last week they have partnered with an affiliate of Targa Resources to reach final investment decision on Blackcomb natural gas pipeline.  The 2.5-billion-cfd pipeline will run 365 miles from Permian Basin to Agua Dulce hub in south Texas.  The joint venture secured sufficient firm transportation agreements, and shippers include […]

Boston-based infrastructure investment firm ArcLight Capital Partners said Monday it launched a renewables energy investment group and acquired an operating wind farm of 160 megawatts in Midland Basin.  ArcLight and renewables group SkyVest said they will target operating utility-scale wind and solar assets in North America.  ArcLight said it is providing an initial commitment of […]

Chevron said today it is moving its headquarters from San Ramon, Calif., to Houston.  Chairman and CEO Mike Wirth and vice chairman Mark Nelson will move by yearend 2024.  Chevron will maintain its San Ramon office to manage its California assets.  The company has about 7,000 employees in the Houston area and 2,000 in San […]

Railroad Commission of Texas said July 26 it is inspecting saltwater disposal wells within 2.5 miles of a series of earthquakes in recent days in the Camp Springs area near the county line of Scurry and Fisher in west Texas.  And this week the commission told the Midland Reporter Telegram it “shut-in two deep disposal […]

Tulsa-based Vital Energy and Northern Oil and Gas said Sunday they are acquiring assets of Point Energy Partners, portfolio company of Vortus Investments.  The all-cash deal of $1.1 billion will increase Vital Energy’s position in Delaware Basin by 25 percent to 84,000 net acres.  Vital Energy will own 80 percent of the assets with Northern […]