Dallas-based Matador Resources said last week it has completed two natural gas pipeline connections in northern Delaware Basin. Joseph Wm. Foran, chairman and CEO, said connections were completed between Pronto Midstream and San Mateo and between Pronto Midstream and Matador’s new acreage in Lea County, N.M., obtained from Advance Energy Partners Holdings. Matador’s announcement March […]
Canadian Oil Sands To Hit 3.7 Million BPD
Oil sands production in Canada is expected to reach 3.7 million barrels per day by 2030. Oil sands extraction and processing remains one of Canada’s most important economic drivers. According to the Business Council, the industry is expected to contribute more than $200 billion annually to the country’s GDP. In addition, it is a major […]
Texas O&G Regulator Supports Vote to Repeal LNG Export Ban
In January 2024, the Biden Administration announced a pause on permits for new liquefied natural gas (LNG) export projects. In response to this pause, it was announced that the U.S. House of Representatives would be voting on H.R. 7176, the Unlocking Domestic LNG Potential Act (Rep. Pflueger, TX-11), which would repeal the Biden Administration’s ban on new LNG export projects. Following […]
O&G Shows Resilience Despite 16% Decline in Contract Volume
Amidst shifting market dynamics, the oil and gas industry faced a significant quarter-on-quarter (QoQ) decline of 16 percent in disclosed contract volume—from 1,401 in Q3 2023 to 1,172 in Q4 2023. Despite this downturn, a marginal uptick in overall contract value hints at resilience during the challenging times, reveals GlobalData, a data and analytics company. GlobalData’s […]
The One That Didn’t Get Away
The Bass Pro Shops that was slated for construction in Midland now is destined for Odessa instead, and will be half-again as big as the store planned earlier. Bass Pro Shops announced updated plans Feb. 23 for a new destination retail store location, this one fronting Highway 191 between Yukon Road and Mission Boulevard. The […]
Oilfield Chemicals Market to Reach $44.6 Billion by 2030
(BUSINESS WIRE) The global market for oilfield chemicals, estimated at $28.9 billion in 2022, is projected to reach $44.6 billion by 2030, growing at a cumulative annual growth rate (CAGR) of 5.6 percent between now and 2030, according to a new report from ResearchAndMarkets.com. Drilling fluids, one of the segments analyzed in the report, is […]
Weakness in Oil Demand Brings Pullback in Growth Prospects
Oil supply in the United States saw major growth in 2023, with production rising by 850,000 barrels per day. However, oil demand has not kept pace with this increase and looks incredibly weak going in 2024. To remedy this mismatch and set up a more positive outlook for 2025, producers are expected to slow production […]
DOE awards contracts for 2.8 million barrels of oil for Texas SPR site
U.S. Department of Energy said this week it has purchased an additional 2.8 million barrels of crude oil produced in the U.S. for the nation’s strategic petroleum reserve. Contracts were awarded Thursday to three companies for September delivery to the Big Hill storage site in Jefferson County in southeast Texas. DOE has now purchased 32.3 […]
Oilfield employment shows steady increase, growth expected to continue
Data from U.S. Bureau of Labor Statistics show a steady increase in oilfield employment, according to Energy Workforce and Technologies Council. The council said oilfield employment reported a slight gain last month by adding 1,466 jobs. Energy employment improved 22.5 percent from January “as the market continues to steady itself amid global geopolitical conflicts.” Molly […]
Milestone opens another landfill facility near Stanton for industry waste
Houston-based Milestone Environmental Services said this week it opened its third Permian Basin facility 10 miles south of Stanton at CR 470. The Stanton landfill facility accepts drill cuttings, contaminated soils, non-injectable fluids and other RCRA-exempt waste from exploration and production operations. It is located with Milestone’s Stanton slurry injection facility and “provides customers with […]
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