U.S. Energy Information Administration recently forecast lower average natural gas bills this winter for U.S. consumers who heat their homes primarily with natural gas this heating season (Nov. 1 to March 31) compared with last winter. The lower residential winter natural gas expenditures forecast in the 2023 EIA Winter Fuels Outlook are due primarily to […]

New Mexico Governor Michelle Lujan Grisham recently signed an executive order directing state agencies to convert to all-electric vehicles within 12 years.  The Democratic governor also said she will pursue tax credits for electric vehicles in the next session of the state’s legislature.  Lujan Grisham made the announcements Oct. 16 in Santa Fe at a […]

Permian Basin, Texas and U.S. again reported additional drilling rigs for the week ending Oct. 20, according to last week’s report by Baker Hughes.  There were 312 rigs in Permian Basin (up 1 in past week, down 34 in past year), 308 in Texas (up 7 in past week, down 63 in past year) and […]

Dallas-based Saxum Energy Partners recently said it fully invested inaugural partnership Saxum Energy I with $435 million for a premium mineral position in Permian Basin from Luxe Minerals as well as its previous acquisitions in the Haynesville Shale.  Saxum launched the partnership in 2022 and acquired assets in the core of Permian Basin operated by […]

James C. (Jim) Henry, 89, former chairman of Petroleum Basin Petroleum Association and recipient of its Top Hand Award, died Oct. 17.  A graduate of University of Oklahoma and U.S. Air Force veteran, he started his career in the oil and gas industry in the 1950s with Humble Oil and Refining in Texas and Skelly […]

Railroad Commission of Texas said last week that for the seventh consecutive year it exceeded targets for plugging orphan wells in fiscal year 2023.  The Texas legislature set a goal of 1,000 orphaned wells to be plugged in FY 2023, and the commission said its oil and gas division plugged 1,750 wells last year.  That […]

New York-based private investment firm SK Capital Partners said recently its affiliates completed acquisition of Milestone Environmental Services, a leading environmental services, waste management and carbon management company with operations in Permian Basin, from Amberjack Capital Partners.  SK Capital acquired a controlling stake in Houston-based Milestone in partnership with Gabriel Rio, president, CEO and founder. […]

Tulsa-based Vital Energy said last week in its announcement of preliminary third quarter operating results that it produced crude oil above guidance.  Vital said total production in 3Q averaged 101,300 boed – above guidance of 94,000-to-98,000 boed – and 48,700 b/d of crude oil – above guidance of 45,500-to-48,500 b/d.  Production results primarily were driven […]