Addison-based King Operating Corp. said recently it added two developments in Permian Basin. King’s partnership assets include the ConocoPhillips project, a three-well package of wells completed in first quarter in Delaware Basin with 16 percent interest. The latest addition is Phantom Hill project in eastern shelf of Permian, another three-well package with 45 percent interest […]
EPA approves Pinon’s plan for carbon dioxide sequestration in Lea County
Houston-based Pinon Midstream said recently it received approval from U.S. Environmental Protection Agency for its monitoring, reporting and verification plan for carbon dioxide sequestration at its two acid gas injection wells in Delaware Basin. The two AGI wells are located at Dark Horse gas treatment plant in Lea County, the largest AGI system currently permitted […]
Something Worth Celebrating
With this issue, we welcome the official start of summer, though for many of us, that begins when the kids get out of school. Perhaps some of you are packing to travel to a cooler climate or to enjoy these sunny days stretched out on a beach. Whether home or away, this month we all […]
Powering Profitability: Financial Tips for Evolving Times
Like many industries globally, the oil and gas sector in the Permian Basin faces challenges that are impacting companies’ operations and growth. Key among these are rising operational costs, supply chain constraints, and shifting investor preferences. In fact, a trend has emerged among large national banks and investors as they shift their lending and investment […]
Hurricane Beryl had minimal effects on oil, gas industry
Hurricane Beryl had minimal effects on the oil and gas industry on the U.S. Gulf Coast, according to Oil & Gas Journal. Marathon Galveston Bay refinery advised the City of Texas City that it had to flare because of a brief power disruption during the storm, but no other issues were reported. ExxonMobil made operational […]
ExxonMobil leads operators in U.S., Permian Basin in active rigs
ExxonMobil leads Permian Basin operators in working rigs in the basin as of June 28, according to Enverus. Other basin leaders include Occidental Petroleum with 22, Mewbourne Oil with 19, and ConocoPhillips, EOC Resources and Devon Energy each with 16. Chevron and Permian Resources have 12 rigs each, and Diamondback and Endeavor have 11 each. […]
Texas Pacific Water Resources receives environmental excellence award
Texas Pacific Water Resources recently received the annual Bruno Hanson/Midland College Environmental Excellence Award. The award was presented at a Permian Basin environmental regulatory seminar for Texas Pacific’s research into treating and recycling produced water. Gretchen Hanson Bakke, member of the award committee, told Midland Reporter Telegram, “The committee selected Texas Pacific Water Resources for […]
Texas, U.S. report gains in drilling rig counts for first time in seven weeks
For the first time since May 17, U.S. and Texas reported increases in count of active drilling rigs. Baker Hughes said in its weekly report of July 5 there were 585 rigs in U.S. (up 4 in past week, down 95 in past year) and 278 rigs in Texas (up 1 in past week, down […]
The Charged Climate Around EVs
We live in times of transition and surprises, so seeing that the market for Electric Vehicles (EVs) has struck a downward inflection point in 2024, causing manufacturers to apply the brakes to some of their earlier enthusiasm, should not catch us too much off guard. Lots of market segments are seeing disruption of some form […]
Price Wars
The oil and gas industry is no stranger to challenges, which historically have been overcome through innovation and collaboration. However, working together to develop solutions is not an option when the threat surfaces from within. With the Permian Basin so enriched by its vast oil and gas assets, the trucking industry should be capitalizing on […]
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