“Go to the ant,” suggested King Solomon, because even without a company man, the ant “stores its provisions in summer and gathers its food at harvest.” Retired veteran oilman Mike Shellman admits that he is a contrarian when it comes to how fast and hard to push production from new wells. And he avoids shale […]
Occidental, Pioneer lead Permian operators in active drilling rigs
Occidental Petroleum and Pioneer Natural Resources are the top two operators of active drilling rigs in Permian Basin, according to Enverus. Occidental had 24 active rigs in the week ending March 29 followed by Pioneer with 21 rigs. Other Permian leading operators were Mewbourne Oil with 19, EOG Resources with 17, and ConocoPhillips, Devon Energy […]
Macquarie Group forecasts U.S. production of 14 million b/d by yearend 2024
Sydney, Australia-based Macquarie Group, global financial services company and investment bank, said it expects U.S. crude oil production to reach about 14 million barrels per day by yearend 2024. According to Oil & Gas Journal, the projections in a recent report by Macquarie include a slight downward adjustment in the shale outlook offset by anticipated […]
Enterprise to construct Mentone West 2 natural gas plant in Loving County
Houston-based Enterprise Products Partners said this week it will expand its natural gas processing capabilities in the Permian Basin with construction of the Mentone West 2 plant in Loving County in Delaware Basin. The new facility will have capacity to process more than 300 million cubic feet per day of natural gas and to extract […]
Timing is Everything
Timing is everything. In January of this year, a petition for review was filed with the Texas Supreme Court titled Scout Energy Management, LLC v. Taylor Properties, in which Scout asks the Court overturn an opinion issued out of the 7th Court of Appeals in Amarillo that involved the interpretation of a shut-in royalty clause […]
Occidental operates fully electric well service rig from Axis Energy Services
Dallas-based Axis Energy Services said recently it has deployed the industry’s first fully electric well service rig on wells operated by Occidental Petroleum in Permian Basin. Axis said its EPIC RIG “provides improvements in safety and efficiency as well as the ability to run on grid power for reduced emissions and increased fuel flexibility.” EPIC […]
New Mexico adds 5 drilling rigs to lead major producing states last week
New Mexico led gains in count of active drilling rigs last week, according to the weekly report of March 28 from Baker Hughes. The only major producing state to add rigs last week, New Mexico reported 111 rigs (up 5 in past week, up 7 in past year). It is the state’s highest rig count […]
Matador completes two natural gas pipeline connections in Delaware Basin
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 […]
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