A qualified local workforce takes investing in our schools, community, and infrastructure. Wow, it is 2024, and the future of the Permian Basin looks bright, partly due to the investment of money and time that most of our energy leaders made in working so hard to help pass the school bonds in Midland, Odessa, and […]
Exus North American subsidiary acquires New Mexico JV solar project
Exus North American Holdings, the North American subsidiary of Madrid-based private equity firm Exus Management Partners, last week agreed to acquire a solar joint venture, New Mexico Renewable Development, for $230 million. American Electric Power and PNM Resources each owns 50 percent interest in the solar JV and reportedly will equally divide the $230 million […]
Ellipsis acquires non-operated assets in Permian, two other basins
Dallas-based Ellipsis U.S. Onshore Holdings said recently is acquired non-operated assets in three basins, including Permian. Ellipsis is an affiliate of Houston-based investment firm Westlawn Group. Purchase price was not disclosed for assets with current production of more than 6,000 boed with “significant operational upside associated with approximately 550 gross remaining locations.” The Permian assets […]
U.S., Texas, Permian post small gains in rig counts, but down for the year 2023
U.S., Texas and Permian Basin each posted small gains in rig count in the final week of 2023, but the counts for all three were down for the year. Baker Hughes said as of Dec. 29 there were 622 rigs in U.S. (620 previous week, 779 year ago), 309 in Texas (306 previous week, 376 […]
World Leaders Ignore Safety Issues with Green Energy
by Steve Goreham The nations of the world pursue an unprecedented energy transition. Efforts are underway to force a shift from coal, oil, and natural gas to renewable energy sources by 2050. But key elements of the proposed transition suffer from green energy safety issues. These are batteries for electric vehicles and electricity storage, and […]
The Barnett Bonanza is Coming, Says Enverus
Enverus Intelligence Research (EIR), a subsidiary of Enverus, an energy-dedicated SaaS platform, has released on Nov. 7 a new report examining various exploration and production (E&P) companies testing the Barnett Formation in the Midland Basin, including economic and productivity outcomes. “Sometimes the best place to find new oil is in already-producing areas, which neatly describes […]
Culture Needs Ethical Underpinnings
by Chuck Gallagher In an era marked by digital transformation, evolving work dynamics, and heightened public scrutiny, one might expect organizations to foster a culture embedded in ethical foundations. Yet, as recent statistics highlight, the reality presents a concerning disconnect. A predominant number of employees—87 percent to be precise—indicate their workplaces lack a foundational ethical […]
Christian Applauds Textbooks Decision
The Texas State Board of Education voted on Nov. 17 on its Proclamation 2024, which determines the types of textbooks and materials students will use in the 2024-2025 school year. Following the SBOE’s actions, Texas Railroad Commissioner Wayne Christian applauded the outcome and shared the following: “Students need to learn about fossil fuels and real-world energy, where it […]
OFS Jobs Continue to Climb
The Energy Workforce and Technology Council released its monthly jobs report on Nov. 7, indicating an addition of 1,736 oil & gas jobs to the Oilfield Service Industry, bringing its total to 652,874, according to preliminary data from the Bureau of Labor Statistics (BLS) after adjustments to September numbers and analysis. In comparison to the […]
Outlook for 2024: Four Trends to Watch in Oil and Gas
It’s been a successful 2023, in which the oil and gas industry has continued to win back investors and position itself as a key player of energy transition. This article looks ahead at four trends in 2024 proving to be a year full of opportunity and challenges. We’d like to offer the following insights from […]
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