Covey said famously, Begin with the end in mind. Let’s talk a bit about artificial intelligence (AI). What is the good, the bad, and the ugly? The good is that it improves individuals’ writing abilities. Or does it? I can tell, in a second, something that AI has written. Refrain from falling for a glossy […]
Ozona CCS leases Loving County acreage to drill CO2 sequestration wells
San Antonio-based Ozona CCS said last week it reached agreement with a private landowner to lease 5,723 contiguous acres of pore space in Loving County in Permian Basin for drilling multiple commercial carbon dioxide sequestration wells. The deal increases Ozona CCS’ lease position to more than 10,000 contiguous acres with estimated pore space capacity of […]
Texas with 297 active drilling rigs falls below 300 for first time in 20 months
In Baker Hughes’ weekly count of active drilling rigs as of Oct. 6, after a decline of 7 rigs in the past week Texas fell below 300 rigs for the first time since February 2022. Texas reported 297 rigs (304 week ago, 360 year ago). Also, there were 309 rigs in Permian Basin (312 week […]
Scorpion Oil and Gas enters Permian Basin with acquisition in Lea County
Stafford-based Scorpion Oil and Gas said recently it closed on a transaction with an undisclosed leading independent for entry into the Permian Basin. Scorpion acquired nearly 6,000 acres (gross) in Lea County in New Mexico with current production of about 400 boed (85 percent oil). The privately-held company said the assets, comprised of vertical and […]
The Cylindrical Trade
Wars against disease and among Slavic peoples have flooded service companies with changes, both in demand for energy and in supply of goods to sell. Oil country tubular goods (OCTG) suppliers are no different, and companies like R&D Pipe Company and Baker Tubulars are broadening their offerings and their markets to make up the difference. […]
Railroad Commission proposes new rules on oil, gas waste, water protection
Railroad Commission of Texas this week released proposed new rules for water protection and oil and gas waste management. Monday the commission said its statewide Rule 8 “will undergo a substantial overhaul to better reflect modern waste management practices and recent advancements in production methods… One of the highest priorities of the RRC is the […]
Environmental Partnership grows to 102 members, reduces flare volumes 14%
The Environmental Partnership, an industry group that has grown to 102 oil and gas companies since its founding in 2017 with 23 members, recently released its annual report revealing that in 2022 in its leak detection and repair program more than 202 million component inspections were performed, 664,000 surveys were conducted, and 157,000 sites were […]
Endeavor subsidiary 1979 Royalties adds mineral, royalty assets in Midland Basin
1979 Royalties, subsidiary of Midland-based Endeavor Energy Resources, said last week it acquired oil and gas mineral and royalty interests in Midland Basin from Peacemaker Royalties, portfolio company of EnCap Investments, for $61 million. The divested properties cover about 5,000 net royalty acres in Dawson and Martin counties operated by Endeavor and Ovintiv. The assets […]
Civitas Resources acquires Vencer Energy assets in Midland Basin for $2.15B
Denver-based Civitas Resources said Wednesday it signed an agreement with Vencer Energy, upstream unit of Vitol, to acquire oil-producing assets in Midland Basin in a cash-and-stock deal valued at $2.15 billion ($1.55 billion cash). Closing is expected in January 2024. The acquisition will add about 44,000 net acres in five counties in west Texas with […]
Looking Back and Looking Ahead
History tells us the future remains bright. On Sept. 27-28 we were honored to host our 62nd Annual Meeting in Midland and perhaps even more special, celebrate the 100th Anniversary of the Santa Rita No. 1. As all of you know it is credited as the well that began this long and storied history of […]
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