A new climate vulnerability index developed by a professor at Texas A&M University and Environmental Defense Fund shows one Texas county in the top 10 of U.S. counties most vulnerable to threats from climate change.  Jefferson County in southeast Texas (Beaumont) ranked ninth in the index developed by Dr. Weihsueh Chiu from the A&M School […]

Rig counts in Texas and U.S. tumbled for the second straight week, but Permian Basin remained unchanged with 310 oil and gas rigs.  Baker Hughes said in its weekly report of Nov. 10 there were 302 rigs in Texas (304 week ago, 373 year ago) and 616 rigs in U.S. (618 week ago, 779 year […]

Calgary-based Enverus Intelligence Research said last week recent wells targeting Barnett interval in Midland Basin show higher oil recoveries and lower breakeven prices than other secondary zones.  Emily Head, senior associate at Enverus Intelligence Research, said, “Sometimes the best place to find new oil is in already producing areas, which neatly describes what’s happening in […]

Oklahoma City-based Devon Energy said last week it will increase spending in Delaware Basin in 2024.  Rick Muncrief, president and CEO, said capital spending for Devon in 2024 will be $3.3 billion to $3.6 billion – a 10 percent decline from estimated $3.8 billion in 2023.  But 70 percent will be dedicated to Delaware Basin […]

Houston-based Kinder Morgan said Monday it agreed to acquire pipeline system STX Midstream, south Texas asset of NextEra Energy Partners, for $1.815 billion.  STX is comprised of seven pipelines (70 percent transmission, 30 percent midstream) totaling 462 miles that connect Eagle Ford to markets along the Gulf Coast and in Mexico (4.9 Bcfd of transport […]

Denver-based SM Energy said last week it plans to increase capital spending by about 30 percent in 2023Q4 and drill about 30 net wells, including 17 in Midland Basin.  SM Energy spent $228 million in Q3 (including 11 net wells drilled in Midland Basin) and expects to spend $290 million to $305 million in Q4.  […]

Houston-based Occidental Petroleum said this week increased productivity in Delaware Basin in the first half of 2023 continued in the third quarter.  Production in Permian Basin for Q3 was 588,000 boed (high end of guidance).  Oxy’s production in Delaware Basin was up 11 percent in first six months of this year over 2022.  Enverus said […]

Midland-based Diamondback Energy this week raised 2023 production guidance after outperformance in the third quarter.  Production in 3Q was 452,800 boed (up about 3,000 boed from 2Q) and 266,100 b/d of oil – both above high end of guidance.  Travis D. Stice, chairman and CEO, said Monday, “We are increasing our full year oil and […]

Milestone Environmental Services’ carbon sequestration hubs in Delaware and Midland basins will support reduction in emissions associated with natural gas processing, electricity generation and other industries.  Milestone’s announcement Oct. 19 of leasing an additional 22,000 acres in Loving and Midland counties from Texas Pacific Land Corp. added, “It also will contribute to attracting new industries […]