Permian Basin, Texas and U.S. each reported a decline in count of active oil and gas drilling rigs to reverse three weeks of gains.  Baker Hughes said as of Nov. 3 there were 310 rigs in Permian Basin (down 3 in past week, down 36 in past year), 304 in Texas (down 7 in past […]

Dallas-based Matador Resources said recently it turned to sales its first two “horseshoe” wells in its Wolf asset area in Loving County in Delaware Basin.  Matador said these two wells had 24-hour initial production test results of 2,477 boed (51 percent oil) and 2,166 boed (53 percent oil) in October.  Joseph Wm. Forsan, chairman and […]

Houston-based Milestone Carbon, subsidiary of Milestone Environmental Services, said recently it will lease more than 22,000 acres of land and pore space from Texas Pacific Land Corp. in Loving and Midland counties for permanent geologic sequestration of CO2.  The acreage will support carbon capture and storage at industrial facilities in west Texas, including natural gas […]

An east Texas man told Houston Chronicle he has revived oilfields in Conroe and Humble that had been shut in for decades.  Brent Franklin, 33, owner of Rise Drilling, began producing in Conroe in September for Texas-based Wheeler Resources.  Franklin, who attended Conroe High School and served in U.S. Navy, started investing in oil and […]

Enverus said Wednesday that Houston-based EOG Resources remains the largest customer in the U.S. onshore oilfield services industry.  EOG leads all exploration and production companies in feet drilled, average rig count and wells completed and ranks second in frac fluid pumped during 2023Q2, according to the most recent issue of Oilfield Pulse.  EOG held those […]

U.S. Energy Information Administration said Tuesday field production of crude oil reached a monthly high in August.  U.S. production was 404.6 million barrels during the month – 13.05 million barrels per day – to surpass the record of 401.73 million barrels in July (up 0.7 percent).  EIA said the largest increases were reported in PADD […]

Houston-based Enterprise Products Partners announced Tuesday four new capital projects totaling $3.1 billion to support production growth in Delaware and Midland sub-basins of Permian Basin.  And the company said it will return the Seminole pipeline with capacity of 210,000 barrels per day of crude oil to natural gas liquids in December.  Seminole was converted to […]

The Office of Petroleum Reserve in the U.S. Department of Energy said recently it will purchase up to 6 million barrels of oil for delivery in December 2023 and January 2024 for the strategic petroleum reserve.  DOE officials said the department will purchase oil at a maximum price of $79 per barrel for the SPR […]