ExxonMobil continues to lead the U.S. and Permian Basin in counts of active oil and gas drilling rigs, according to a report from Enverus this week.  As of Jan. 17, the latest weekly average for ExxonMobil in U.S. and Permian was 34.9 followed in Permian by Occidental with 24.9, Diamondback Energy with 18.9, Mewbourne Oil […]

Houston-based Kinder Morgan, one of the world’s largest energy infrastructure companies, said this week it made final investment decision to develop the $1.7 billion Trident intrastate natural gas pipeline.  The 216-mile pipeline will deliver 1.5 Bcfd from Katy to the Port Arthur area.  Underpinned by long-term contracts, it is expected to be in service in […]

Railroad Commission of Texas recently adopted new rules to regulate oil and gas waste management facilities in the state.  Commissioners adopted the new rules at their meeting Dec. 17, 2024, after extensive reviews of public comments and stakeholder input.  The regulations cover waste from oil and gas operations and waste from other operations for which […]

Several members of the Texas legislature were in west Texas recently to learn about the oil and natural gas industry in the Permian Basin.  Senators and representatives from the 89th session now in progress in Austin attended a series of events, including site tours and panel discussions.  Rep. Pat Curry, R-Waco, told the Midland Reporter […]

Count of active drilling rigs in U.S. continued its decline, but the count in Permian Basin remained at 304 for the seventh straight week.  The last gain in the U.S. count was Dec. 6, 2024 (the only weekly gain since Oct. 11, 2024).  Baker Hughes said as of Jan. 17 there were 580 rigs in […]

U.S. Energy Information Administration recently said crude oil production continues to increase in the lower 48 states despite fewer active drilling rigs because of gains in operational efficiency.  EIA said last month, “Improved performance is particularly evident in the Permian region, where we observed a nine percent year-over-year increase in November.”  At the end of […]

Affiliates of Austin-based Langford Energy Partners said last week they closed on their acquisition of assets in Midland Basin from Murchison Oil and Gas.  The assets include about 8,000 net acres primarily in Borden, Howard and Midland counties with net production of about 7,200 boed (72 percent oil) primarily from 63 operated horizontal wells.  Langford […]

U.S. Energy Information Administration said Tuesday retail price of gasoline is expected to be lower in 2025 and 2026 compared to 2024.  The estimates reflect the EIA forecast of lower crude oil prices.  EIA forecasts U.S. gasoline prices in 2025 will average $3.20 per gallon – a decrease of more than 10 cents per gallon […]