U.S. Energy Information Administration said recently that U.S. crude oil production will continue to increase in 2025 while U.S. refiners process less crude oil than they did last year.  That will lead to a decline in net imports of crude oil of more than 20 percent to 1.9 million barrels per day in 2025 – […]

Brentwood, Tenn.-based Delek Logistics Partners said last week it has agreed to purchase the water midstream division of Gravity Oilfield Services for $285 million ($200 million cash).  The Gravity unit provides gathering, transportation, recycling, storage and disposal of produced water in Midland Basin in west Texas and Williston Basin in North Dakota.  The acquisition adds […]

Tulsa-based ONEOK said recently it completed expansion of NGL pipeline and fractionation projects in Texas.  Completion of the full looping of the West Texas NGL pipeline system from Permian Basin expands its capacity to 515,000 barrels per day.  Additional pump stations – expected to be completed by mid-2025 – will further increase system capacity to […]

New Mexico was one of only two states to report gains in rig count in the past week, according to the weekly report of Dec. 13 by Baker Hughes.  New Mexico has 104 active drilling rigs – up 2 in the past week and up 4 in the past year.  Also, there were 304 rigs […]

Oklahoma City-based Nova Compression said recently it purchased natural gas compression assets from The Woodlands-based Kodiak Gas Services.  The assets, which are near Pecos in west Texas, will allow Nova “to double its density in an active area of the Delaware Basin.” Jonathan Mitchell, CEO of the company founded in 2007, said Dec. 5, “The […]

Calgary-based Freehold Royalties said last week it purchased mineral title and royalty interests in the core of the Midland Basin in west Texas from a private seller for $152 million.  The acquisition includes 244,000 gross drilling acres to expand Freehold’s Midland Basin footprint by 35 percent.  The company said production is 1,250 to 1,350 boed […]

Five states produced 73 percent of the record 113.1 billion cubic feet per day of U.S. marketed natural gas production in 2023. Texas accounted for 28 percent of U.S. marketed natural gas production in 2023, according to the latest Natural Gas Monthly from U.S. Energy Information Administration, followed by Pennsylvania (18 percent), Louisiana (10 percent), […]

Dallas-based Energy Transfer said last week it will construct an intrastate natural gas pipeline to provide transportation from Permian Basin to premier markets and trading hubs to serve growing demand.  The company said Dec. 6 the project will “further establish Energy Transfer as the premier option to support power plant and data center growth in […]

Houston-based Kinetik Holdings said this week it will acquire Permian Resources’ natural gas and crude oil gathering systems in Reeves County for $180 million.  Kinetik said Tuesday, “This transaction provides a multi-stream opportunity for natural gas gathering, compression and processing as well as crude gathering services for Kinetik.” The assets include about 60,000 gross operated […]