Lexington, N.C.-based M2X Energy said recently that its transportable, modular gas-to-methanol plant produced its first methanol. The company said it is performing test runs now to qualify the system for its first field deployment. “This major milestone substantially de-risks our innovative technology and validates its commercial viability,” CEO Max Pieri said. “We are currently the […]
Permian Basin rig count declines 8.5 percent in third quarter
Texas and Permian Basin again were the loss leaders in Baker Hughes’ weekly report of active oil and gas drilling rigs as of Sept. 29. Texas’ count fell by 8 in the past week to 304 (360 year ago), and the count in the Permian Basin fell by 5 to 312 (344 year ago). Also, […]
TGS announces 3D expansion of survey in Midland Basin
Houston-based TGS, global provider of energy data and intelligence, announced last week a northern extension of its Pontiac 3D survey in Midland Basin. The extension increases the Pontiac 3D from 167 square miles to 267 square miles in Crane, Ector, Midland and Upton counties. The extension sits on the western edge of the Midland Basin […]
LM Energy divests crude system in Eddy, Lea to focus on gas gathering
Dallas-based LM Energy Holdings said last week it agreed to sell certain subsidiaries and assets of its Touchdown crude oil gathering system in Eddy and Lea counties in Permian Basin. The transaction with an undisclosed buyer is expected to close in 4Q and allows LM Energy to focus on its natural gas gathering systems in […]
O&G Contract Value Up 60 percent in Q2
The overall oil and gas industry’s disclosed contract value witnessed a significant quarter-on-quarter (QoQ) increase of 60 percent in Q2 2023, mainly driven by a mega contract for Qatar’s North Field South (NFS) LNG project, according to GlobalData, a data and analytics company. GlobalData’s latest report shows that the overall contract value increased from $35.4 […]
Remote Sensing Drones Protect Infrastructure
A firm named Birdstop asserts that there is a rapidly growing need for Beyond-Visual-Line-Of-Sight drones to monitor critical infrastructure. With oil fields, farmland, power stations, transit lines, airports, dams, water supplies and telecom at risk, any blind spots can lead to major issues, they say. To that end, Birdstop is striving to usher in a new […]
Refiners Show Strong Financial Profiles
North American refining and marketing companies continue to post robust results due to recovering demand and low inventory levels, according to a new Fitch Ratings report. The report is a relative credit analysis that compares issuers based on their business and financial characteristics. Fitch anticipates limited rating actions across the peer group despite above-midcycle cash […]
North America to Dominate LNG Liquefaction
North America will continue to dominate the global liquefied natural gas (LNG) liquefaction capacity additions, contributing about 59 percent of the total capacity additions between 2023 and 2027, according to GlobalData, a leading data and analytics company. GlobalData’s latest report reveals that North America is expected to witness the highest capacity additions globally, by gaining […]
Sand Conveyor Belt Takes Another Step
Atlas Energy Solutions has selected Voith Turbo to supply a total of 21 TurboBelt 800 TPXL fill control fluid coupling drives (including spares) to power 42 miles of conveyor belt as part of Atlas Energy Solutions’ historic Dune Express project. ELIN Motoren, a Voith company, will also provide 21 customized low noise electric motors for […]
Company Announces $10 Million In Funding for IoT Tech
(BUSINESS WIRE) Amplified Industries (formerly Acoustic Wells), which terms itself an industrial Internet of Things (IoT) solution, recently announced its official launch from stealth with an in-market solution and $10 million in funding. Amplified Industries’ IoT solution empowers onshore asset operators with real-time operations data and control to cut cost, slash emissions, and increase production. […]
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