U.S. added to its count of active oil and gas drilling rigs for the third straight week, according to Baker Hughes, and Texas and Permian Basin also reported additional rigs last week. In the latest weekly report as of Dec. 1, there were 314 rigs in Permian Basin (311 previous week, 350 year ago), 306 […]
Production tax revenue contributes $3.06 billion to “Rainy Day Fund” in FY24
Texas comptroller Glenn Hegar last month deposited $3.06 billion – the second highest total in the fund’s history – into the state’s Economic Stabilization Fund for fiscal year 2024. The so-called “Rainy Day Fund” was created in 1988, and oil and gas production tax is the source of the majority of revenue deposited into the […]
Endeavoring to Make a Difference
We live in interesting times. What the world has taught us since Covid is that nothing that one might expect to happen, will happen. Rather, what happens is something altogether unexpected. WTI was supposed to climb above $100 before year’s end. As this sentence is being formed, it stands at $75. The price of crude […]
OPINION: The Reason for the Season as a Reason for Reflection
This being the beginning of the Christmas season, with so many people thinking thoughts of the “reason for the season,” now seems as good an occasion as any to step back from the issues of the oilfield and take a broader view—a view of ourselves and where we stand in this day and age. For […]
Bloomberg: U.S. gasoline price per gallon declines for 60 consecutive days
Bloomberg reported Monday that U.S. gasoline prices have dropped for 60 consecutive days – their longest streak of declines in more than a year. The average price for a gallon of gasoline in the U.S. is $3.25 – about 30 cents less than at the same time last year. AAA said one gallon of gasoline […]
Hearing in January for Midland’s challenge to Pilot disposal wells
A hearing is scheduled next month in Austin on a challenge by the City of Midland to applications for disposal wells in west Texas near a source of its drinking water. Pilot Water Solutions is asking to inject oil and gas wastewater deep underground near T-Bar Ranch, where Midland gets 30-to-35 percent of its water […]
Kinetik completes construction of Delaware link pipeline from Reeves to Waha
Midland-based Kinetik Holdings said in its third quarter announcement it completed construction of its Delaware link pipeline in September and placed it into service in October. The 45-mile pipeline (30 inches) transports one billion cfd of natural gas and connects Kinetik’s processing facilities in Reeves County to Waha hub. The project is backed by long-term […]
Exxon Mobil Leads Conversations on X
Exxon Mobil Corp. has emerged as the top company—with 28 percent share of conversations among the top 10 most mentioned oil and gas companies on social media platform “X” in 2023 (01 January 1 to October 31)–according to findings of the Social Media Analytics Platform of GlobalData, a leading data and analytics company. The remaining nine […]
How to Become a Leader of Influence
In his new book, Leadership Is Influence, consultant and international speaker Paul Lawrence Vann shares a wealth of practical wisdom plus a three-pronged approach designed to help “move the needle” for average leaders and propel them toward becoming what he calls a “leader of influence.” “A leader of influence is someone who is able to get other […]
Well Plugging Receives Recognition
The Texas Railroad Commission’s award-winning well plugging program received yet another accolade—garnering the esteemed Chair’s Environmental Partnership Award from the Interstate Oil and Gas Compact Commission (IOGCC). The award was for completing a complex project that ensured boater safety at the Big Thicket National Preserve earlier this year. The National Park Service (NPS) contacted the […]
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