The year 2024 is becoming a year when the prognosticators are being proven wrong. What do we mean by that? Let us count the ways. “World Oil Demand Outpacing Expectations” In a March 22 report from Bloomberg, we are told that the world is using more oil than ever and demand is outpacing […]
New Mexico: Land of Contrasts
The oil and gas industry in New Mexico in 2024 is like a boxer who keeps taking hits, but remains standing. Some hits are glancing blows, and some are near misses. From legislative to legal to development of the southeastern corner of the state, there are challenges—and opportunities in the year ahead for New Mexico’s […]
Report: Power demand in far west Texas to double by 2040
Enverus Intelligence Research said Tuesday it expects power demand in far west Texas to more than double by 2040 because of electrification trends, including potential electrification in the oil and gas industry, and cryptocurrency mining growth. “We believe the far west zone in ERCOT will see enough load growth to support significantly more renewable development […]
FTC approves Exxon’s purchase of Pioneer, bars Sheffield from board; deal closes
Federal Trade Commission on Thursday approved ExxonMobil’s $64.5 billion purchase of Pioneer Natural Resources, but FTC issued a consent agreement that prevents Pioneer founder and former CEO Scott Sheffield from serving on the Exxon board of directors or serving as an advisor based on allegations he attempted to collude with OPEC to raise oil prices. […]
Texas upstream oil, gas sector adds 4,500 jobs in March – most since June 2011
Texas Workforce Commission recently said employment in the upstream sector of the Texas oil and gas industry grew by 4,500 jobs in March. It’s the largest single month of growth in upstream jobs since June 2011. Since a low point in September 2020 during a global pandemic, the months of increase in upstream oil and […]
Midland’s ProPetro to provide electric hydraulic fracturing services to Exxon
Midland-based ProPetro Holding Corp. said Monday it reached agreement with ExxonMobil to provide electric hydraulic fracturing services in the Permian Basin. The three-year agreement includes deployment of two electric hydraulic fracturing fleets and wireline and pumpdown services in first half of 2024. There is an option for a third fleet early next year. Sam Sledge, […]
Whitley Penn Recognized as “Top 100” by Accounting Today
Whitley Penn has been named a “Top 100 Firm,” according to a March 13 announcement by Accounting Today. The firmed ranked at #35 of the nation’s top accounting firms. The firm also ranked #39 among the Top Tax Firms as well as the second largest firm in the Southwest. “We are delighted to be recognized in Accounting Today’s Top 100 Firm […]
Donation Founds Texas Tech’s First Veterans Legal Clinic
A generous gift to Texas Tech University will establish a new scholarship for full-time students in the Edward E. Whitacre Jr. College of Engineering who are employed. A $1.6 million donation from the William A. Brookshire Foundation to Texas Tech University will found the Texas Tech School of Law Veterans legal Clinic—a service free to veterans that provides […]
TPPF Launches National Center for Energy Analytics (NCEA)
The Texas Public Policy Foundation (TPPF), on March 20, launched the National Center for Energy Analytics (NCEA), a new national energy think tank led by distinguished fellow Mark P. Mills and comprised of a team of world-class scholars dedicated to reality-driven energy analyses. The NCEA will produce credible, unbiased research on energy issues, both proactively […]
Axis Deploys Electric Service Rig
Axis Energy Services announced on March 11 its successful deployment of what it describes as the oil and gas industry’s first fully electric well service rig, this one devoted to wells operated by Occidental. Axis’ “Epic Rig” provides improvements in safety and efficiency, as well as the ability to run on grid power for reduced emissions […]
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