ExxonMobil announced April 2 that Karen T. McKee, president of ExxonMobil Product Solutions Company, was to retire effective May 1. The Board of Directors appointed Matt Crocker president, ExxonMobil Product Solutions Company and vice president Exxon Mobil Corporation. He succeeded McKee May 1. Crocker, who has been ExxonMobil’s President/Global Business Solutions since 2023, joined the […]
Permian rig count falls to 278; U.S. dips to 563; Eddy County, N.M., returns to 50
Counts of active drilling rigs in Permian Basin and U.S. by Baker Hughes continue sinking to low counts last reported in November 2021. In the weekly report of May 30, there were 278 rigs in Permian Basin (down 1 from 279 one week earlier, down 32 from 310 a year earlier) and 563 in U.S. […]
ProPwr division of ProPetro secures contract for power generation in Permian
Midland-based ProPetro Holding Corp. recently said its ProPwr division secured its first contract to commit 80 megawatts of power generation for an exploration and production operator in Permian Basin. ProPetro said May 20 that asset deployment is scheduled to begin in 2025 third quarter and continue through 2026. ProPwr will deliver turnkey power to a […]
Matador, San Mateo Midstream reach startup of Marlan plant in Eddy County
Dallas-based Matador Resources and affiliate San Mateo Midstream last week announced startup of an expansion of San Mateo’s Marlan cryogenic natural gas processing plant in Delaware Basin. The expansion adds 200 million cfd of natural gas capacity to the plant in Eddy County, N.M., to bring total capacity to 260 million cfd. Joseph Wm. Foran, […]
The Changing Landscape of Leasing and Minerals
Click here to listen to the Audio verison of this story! The flurry of merger and acquisition (M&A) activity over the last two years has changed the minerals landscape in the Permian Basin, along with most producing basins in the United States. Fewer operators control larger acreages. Also, the definition of what constitutes a […]
Eagle Ford Production Edges Downward
by J. David Smith, Senior VP, Mercer Capital Eagle Ford production (on a boe basis) dipped 2.9 percent in the 12 month period ending in March 2024. Production levels varied only slightly during the period, with the rolling monthly percentage change in March varying between -3.5 percent and 1.4 percent. Appalachian production change over the period was […]
Texas Oilman Donates Ambulance to Israel
Jack Storm, president of WS Energy Services, recently made a charitable donation to Israel of an ambulance—one that will soon be transported overseas to emergency caregivers at Magen David Adom (Red Shield of David) in Israel. Storm said he has long desired to extend this gift, and he maintained his commitment through tough industry times […]
“Nuclear Verdicts” are Driving Up Consumer Costs in Texas
Texans pay an average of $1,725 more for goods and services every year as the costs of lawsuits and massive court awards are passed on to consumers. This $1,725 “lawsuit tax”—which drives up the cost of everything Texans buy, from groceries to housing to insurance—is higher than the national annual average lawsuit tax of $1,666 […]
Upstream M&A sails to $17 billion in 1Q25
Enverus Intelligence Research (EIR), a subsidiary of Enverus, an energy-dedicated SaaS company, released on April 23 its summary of 1Q2025 upstream M&A activity and outlook for the rest of the year. The M&A summary follows Enverus’ release of Investor Analytics, a tool designed to offer investors a comprehensive view of key market dynamics. Upstream M&A opened 2025 […]
Modular Carbon Capture Unit Achieves Milestone
Carbon Clean announced April 3 the successful completion of the first-ever industrial deployment of CycloneCC. This modular unit has achieved the milestone of 4,000 operating hours over a six-month period, moving CycloneCC to Technology Readiness Level 7 (TRL 7). CycloneCC has operated continuously, delivering a high purity CO2 product that exceeds the projected target and […]
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