Permian Basin, Texas and U.S. recorded declines in counts of active drilling rigs for the past week, according to the May 5 report from Baker Hughes.  Permian was down 5 rigs to 356 (335 year ago), Texas was down 9 rigs to 368 (344 year ago) and U.S. was down 7 rigs to 748 (705 […]

Houston-based Callon Petroleum said last week it is acquiring Percussion Petroleum Operating’s 18,000 net acres in Loving, Ward and Winkler counties in west Texas and divesting its assets in Eagle Ford Shale in south Texas to focus on Permian Basin.  The Percussion deal is a cash-and-stock transaction valued at $475 million ($265 million cash).  Callon […]

A survey conducted for the New Mexico Produced Water Research Consortium at the state fair last year revealed that a majority of qualified respondents approved of the use of recycled produced water.  Results of the random survey were reported by Deborah Dixon of the consortium at a recent meeting of the New Mexico Desalination Association.  […]

A new report from Wood Mackenzie said countries in Latin America will need to expand imports of natural gas over the next decade.  In the report, “Natural Gas Resources in Latin America,” WoodMac forecasts gas demand in the region to grow at an average rate of 1.4 percent per year over the next decade and […]

Dallas-based Matador Resources said last week it drilled a pilot project of two wells on its Wolf acreage in Loving County using a “horseshoe” design.  Matador drilled a two-mile lateral on a section only large enough for a traditional one-mile lateral.  The U-shaped lateral drills out part of the wellbore, makes a 180-degree turn, and […]

Midland-based Diamondback Energy said Monday it expects to operate 14-to-15 rigs in the second half of 2023 after operating as many as 17 rigs earlier this year.  Travis Stice, chairman and CEO, said Diamondback is aiming for 3 percent increase in production from 2023Q1 when it averaged 251,000 barrels per day of oil (up 13 […]

Mike Sommers, president and CEO of American Petroleum Institute, the world’s largest oil and gas association, will be the featured speaker at the 2023 State of Energy luncheon Monday, May 15, at The Ortiz Center in Corpus Christi.  Shale magazine and EN Media Group conduct the annual luncheon to “demonstrate the undeniable economic impact the […]

Count of active drilling rigs increased for the fourth straight week and seventh time in the last eight weeks in Permian Basin, according to the weekly report of April 28 from Baker Hughes.  There were 361 rigs in Permian Basin (358 last week, 335 year ago) – up from 353 to start the year.  Also, […]