Dallas-based Elk Range Royalties said recently it acquired Newton Financial Corp., Concord Oil and Mission Oil.  Collectively they own mineral and royalty interests across the Permian Basin in west Texas and Eagle Ford in south Texas.  The company’s announcement said, “This strategic transaction expands Elk Range’s footprint across premier oil and gas producing regions in […]

Count of active drilling rigs decreased for the third straight week in Permian Basin, according to the weekly report of March 21 from Baker Hughes.  There were 300 rigs in Permian Basin – down 1 from 301 the previous week and down 15 from 315 year ago.  Also as of March 21, there were 280 […]

U.S. Energy Information Administration said last week natural gas pipeline capacity increased by 17.8 Bcfd in 2024.  Total pipeline capacity of interstate and intrastate additions surpassed the previous year’s additions for the second straight year.  In its latest natural gas pipeline projects tracker, EIA said major projects in Permian, Eagle Ford in south Texas, Appalachia […]

Houston-based Voyager Interests, private equity firm specializing in energy services and equipment investments, said last week it made a majority investment in Midland’s Tejas Completion Services.  Financial terms of the transaction were not disclosed.  Tejas provides specialty pumping and related services, including acid and completion chemicals, mixing plant services, and thru-tubing services.  Tejas, largest independent […]

U.S. Senator John Cornyn (R-Texas) this week visited a production site of Diamondback Energy to view a demonstration of the emissions monitoring system of Champion X.  Cornyn visited the site at Diamondback’s Spanish Trail field near Midland with Bill Nall, senior superintendent of production for Diamondback, and Shankar Annamalai, senior vice president of emissions technologies […]

Birmingham, Ala.-based Diversified Energy named Rick Gideon, CEO of Maverick Natural Resources, as COO after closing its previously announced acquisition of Maverick.  Diversified announced its purchase in January for $1.275 billion (including debt) of Maverick with core assets in Permian Basin, western Anadarko and Ark-La-Tex.  Gideon’s appointment was effective Tuesday. Diversified is a leading publicly […]

U.S. Department of Energy said recently filling the nation’s strategic petroleum reserve will require $20 billion and several years to complete.  Chris Wright, energy secretary in the administration of new president Donald Trump, said March 7 he will seek $20 billion to restore holdings “close to the top.”  The SPR, world’s largest emergency crude oil […]

Houston-based Northwind Midstream Partners said last week it has constructed and placed into service 150 million cfd of high-circulation amine capacity, two acid-gas disposal and carbon sequestration wells, more than 200 miles of large-diameter pipelines, and 41,750 horsepower of compression at five compressor stations.  The system in Lea County, N.M., is underpinned by long-term commitments […]