With Permian merger and acquisition activity on steroids in Q4 2023, consolidation of resources is becoming a necessary tool for staying on top of the game for E&P companies. In response, service companies are making changes of their own. For J&S Oilfield, the decision was to join forces with Fife Services, a company with which […]
Doing the Math on Double Fractions
The Texas Supreme Court recently accepted and quickly disposed of a petition for review from the Fourth Court of Appeals in San Antonio, titled Thomson v. Hoffman, by vacating the appellate court’s order and remanding the case. The issue involved yet another older (specifically, 1956) deed. The main question centered on whether the language of […]
Rig counts decline in U.S., Texas, New Mexico and Permian Basin
Count of active oil and gas drilling rigs declined in the past week in U.S., Texas, New Mexico and Permian Basin as of Dec. 21, according to Baker Hughes. There are 620 rigs in U.S. (623 previous week, 779 year ago), 306 in Texas (308 previous week, 374 year ago), 98 in New Mexico (100 […]
Fury Resources to acquire Battalion Oil assets in Delaware Basin
Medicine Hat, Alberta-based Fury Resources said Dec. 15 it agreed to acquire Houston-based Battalion Oil in a deal valued at $450 million. Avi Mirman, executive chairman, said the transaction represents a return to the Delaware Basin for Fury Resources. “We are well positioned to drive value growth for our investors as we return the asset […]
Oil output in Permian forecast to grow in January as 5 of 6 other regions decline
Crude oil production in Permian Basin is projected to grow by 5,000 barrels per day in January 2024 to 5.986 million b/d from 5.981 million b/d in December. In the latest drilling productivity report Dec. 18 from U.S. Energy Information Administration, overall production in seven major plays is forecast to fall slightly by 1,000 b/d […]
Howard Midstream completes expansion of gas processing plant in Orla
San Antonio-based Howard Midstream Energy Partners said Dec. 13 it completed a series of projects to expand pipeline, processing and storage to accommodate increased production of natural gas from Delaware Basin and Eagle Ford. The $800 million in projects included an expansion of the Stateline gas processing complex for jointly owned Catalyst Midstream in Orla […]
New Mexico legislature to meet Jan. 16 with record $12.7 billion in tax revenue
The next session of the New Mexico state legislature will begin Jan. 16, 2024, in Santa Fe with a record $12.7 billion in tax revenue. Santa Fe New Mexican reported, “State lawmakers will once again head into the legislative session with record oil production in New Mexico pumping up tax revenue to its highest level […]
Wild Things
I’ve alluded in the past to my disdain for the phrase “freak accident”. My standard retort to that is, “As opposed to a planned one?” When people refer to freak accidents, I understand that they are making reference to unplanned results or happenstances. However, I have encountered numerous freaky unforeseen incidents. Seldom do I find […]
A Time for Counting Our Blessings
And in the blink of an eye, the end of the year is upon us. It’s that time of year when thoughts turn to family, friends, celebrations, and the counting of blessings. We’re already hearing Ho, Ho, Ho and the ringing of the bells as we enter stores to buy gifts for our loved ones. […]
DOE announces additional solicitations for SPR for February, March
Since January 2023 U.S. Department of Energy has purchased about 9 million barrels of crude oil at an average price of $75 per barrel, and DOE has announced additional solicitations of 3 million barrels each for February and March 2024. The administration of President Joe Biden authorized withdrawals “to bring down gasoline prices for consumers.” […]
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