Calgary-based Enbridge said this week it reached agreement with WhiteWater I Squared Capital and MPLX for a joint venture to develop, construct, own and operate natural gas pipelines and storage assets connecting natural gas supply in Permian Basin to growing demand for LNG on the Texas coast.  The JV will be owned by WhiteWater I […]

U.S. Energy Information Administration said the nation’s crude oil production averaged 13.3 million barrels per day in December because of sustained productivity increases at new wells.  In its Petroleum Supply Monthly, the EIA said, “U.S. crude oil production has increased to record highs since 2010 and has risen even more quickly in recent months.  These […]

Mike Johnson (R-LA), speaker of the U.S. House of Representatives, visited Permian Basin last week during National Energy Week.  Johnson accepted an invitation from Rep. August Pfluger (R-San Angelo) to visit a drilling rig March 18 in Ector County operated by Diamondback Energy.  “The Permian Basin is so critically important,” Johnson said.  “It’s been a […]

Baker Hughes said the count of natural gas drilling rigs in U.S. declined to 112 (down 4 in past week) as of March 22 – its lowest in 27 months since January 2022.  U.S. Energy Information Administration said the gas well count declined “as some producers slash spending and reduce drilling activities after gas futures […]

Only one of the top 10 counties in Permian Basin added drilling rigs last week as the count declined after a week of gains.  Baker Hughes said as of March 22 there were 315 rigs in Permian Basin (316 previous week, 353 year ago), 294 in Texas (unchanged in past week, 372 year ago), 106 […]

Houston-based APA Corp. said recently it expects to close on or about April 1 on its recent $4.5 billion acquisition of Callon Petroleum.  APA and Callon scheduled shareholder meetings March 27.  “We look forward to integrating the Callon assets and providing more information about the Permian Basin outlook from the combined assets,” John J. Christmann […]

Liberty Energy held groundbreaking ceremony March 5 for a new regional headquarters in Odessa.  The $50 million, two-story facility at Leeco Industrial Park will include a 42-bay maintenance shop, 6-bay truck wash facility, warehouse of 50,000 square feet, offices and training center.  Liberty’s project includes a grant of $2.5 million from Odessa Development Corp. Chris […]

Houston-based APA Corp., parent company of Apache, said recently it expects to surpass its pre-pandemic production levels in Permian Basin by 2024Q4 with 20 percent growth compared to 2023Q4.  John J. Christmann IV, CEO, said Feb. 26, “We have achieved top-tier well results and best-in-class production improvements in both the Midland and Delaware basins.  The […]