On April 23, Energy Workforce and Technology Council President Tim Tarpley and EWTC Board Member Ron Gusek, president, Liberty Energy, testified in Plano, Texas, before the U.S. House of Representatives House Oversight Subcommittee on Economic Growth, Energy Policy, and Regulatory Affairs during the field hearing titled “Drilling Down: Oversight of the Challenges and Opportunities Facing the U.S. Energy Production.” The […]
Companies Form Business To Streamline Tech Integration
FieldComm Group and FDT Group announced April 23 the completion of a term sheet outlining a plan to create a single business aimed at advancing integration technology and harmonizing control system applications across multiple protocol topologies supporting both process and factory automation. Subject to the completion of a definitive agreement, the new business will continue […]
Quick Action Minimizes Sand Mine Fire Damage in Kermit
(BUSINESS WIRE)—As reported by media outlets previously, on April 14 a mechanical fire occurred at the Atlas Energy Solutions Inc. mine in Kermit, Texas. Atlas officials said they remain grateful that all personnel at the site, including employees and contractors, are safe, that no injuries occurred, that no environmental impacts have been reported, and that […]
U.S. Onshore Drilling Rigs valued at $7.4 Billion
(BUSINESS WIRE)—The U.S. Land Drilling Rigs Market was valued at $7.4 billion in 2023 and is anticipated to project robust growth in the forecast period with a cumulative annual growth rate (CAGR) of 5.7 percent through 2029. The U.S. land drilling rigs market stands as a dynamic sector within the country’s energy landscape. Driven by […]
EIR: Permian Drives Mergers, But Pace to Slow
Enverus Intelligence Research, EIR, a subsidiary of Enverus, a generative AI and energy-dedicated SaaS company, has released its summary of 1Q24 upstream M&A activity. Following last year’s blockbuster $192 billion in U.S. upstream consolidation, 1Q24 would be on track to surpass that record with $51 billion in announced deals. However, EIR is pumping the brakes […]
Occidental leads rig operators in Permian, ConocoPhillips tops in U.S.
Enverus reported May 24 that ConocoPhillips is the most active operator in the U.S. and Occidental Petroleum is the most active operator in the Permian Basin. In the U.S. for the week that ended May 24, ConocoPhillips led with 31 rigs followed by EOG Resources and Occidental with 27 each, Mewbourne Oil with 25, Continental […]
Energy Transfer to acquire Midland’s WTG Midstream
Houston-based Energy Transfer said Tuesday it agreed to acquire Midland’s WTG Midstream Holdings from affiliates of Davis Estate, Diamondback Energy and Stonepeak. The deal is valued at $3.25 billion, including $2.45 billion in cash and about 50.8 million newly issued Energy Transfer common units. The assets are expected to provide Energy Transfer with increased access […]
ConocoPhillips to acquire Marathon Oil assets in Permian, Eagle Ford, Bakken
Houston-based ConocoPhillips, top U.S. independent oil and gas producer, said Wednesday it agreed to purchase Marathon Oil in an all-stock deal worth $22.5 billion, including $5.4 billion in debt. CNN Business said, “Oil giants are flush with cash and printing bumper profits following years of elevated prices. They’re using those windfalls to snap up assets […]
Novo II launches with EnCap capital commitment to pursue assets in Delaware
Oklahoma City-based Novo Oil & Gas recently announced the launch of Novo Oil & Gas Holdings II with equity capital commitment from EnCap Investments. The new upstream energy company will pursue proven, liquids-rich unconventional assets in Permian Basin. Novo II intends to pursue both operated and non-operated mineral positions in Delaware Basin. John Zimmerman is […]
Drillers in Texas and U.S. idled more rigs last week, according to the weekly report of May 24 from Baker Hughes
Drillers in Texas and U.S. idled more rigs last week, according to the weekly report of May 24 from Baker Hughes. Texas’ count of active drilling rigs was 287 – down 3 in the past week, down 72 in the past year. The U.S. count of 600 was down 4 in the past week and […]
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