Oil & Gas Journal reported last week that the in-service date for the expansion of Permian Highway natural gas pipeline by Kinder Morgan has been delayed again to December 2023. Kinder Morgan attributed the delay to supply chain constraints. Capacity is being expanded by 550 million cubic feet per day for the 430-mile pipeline to […]

Fort Worth-based Firebird Energy II said last week it has secured equity commitments of more than $500 million, including funds managed by Quantum Energy Partners, to invest in oil and gas properties in Permian Basin. The founders and employees of Firebird II and other partners also are making what was called “significant equity commitments” to […]

Irving-based Pioneer Natural Resources, one of the nation’s largest independent oil and gas companies, said Wednesday that Richard P. Dealy, 56, will succeed Scott D. Sheffield, 71, as the company’s CEO effective Jan. 1, 2024. Sheffield, member of the Permian Basin Petroleum Museum Hall of Fame, graduate of University of Texas and “a trailblazer in […]

Production of petroleum and liquid fuels in Mexico has held steady since 2019, according to a report in Oil & Gas Journal, after two decades of steady decline.  U.S. Energy Information Administration said production in Mexico is expected to remain relatively flat through 2024. In 2013 the Mexican government amended its constitution to open the […]

Midland-based Dawson Geophysical said recently it reached agreement with Wilks Brothers and Breckenridge Geophysical to purchase substantially all assets of Breckenridge for seismic data acquisition.  The companies said they plan to begin integration of the acquired assets into Dawson’s operations “as soon as possible.”  Total consideration for the transaction is 7 million shares of Dawson […]

Permian Basin added drilling rigs for the third straight week and for the fifth time in the last six weeks, according to the weekly report of April 21 from Baker Hughes.  Permian has 358 rigs after adding 2 in the past week (334 a year ago).  Also as of April 21, there were 377 rigs […]

Federal Energy Regulatory Commission last week approved certificates for two multibillion-dollar LNG facilities at Port of Brownsville for Houston-based companies.  FERC approved at its meeting Thursday the Rio Grande LNG by NextDecade and Texas LNG Brownsville by global energy developer Glenfarne, according to FERC acting chairman Willie Phillips.  Analysts said the approvals could move the […]

International Energy Agency said in the April edition of its Oil Market Report that world oil demand will climb by 2 million barrels per day in 2023 to a record 101.9 million b/d.  IEA said China will make up more than half of the global increase.  The report added, “While oil demand in developed nations […]

A recent analysis by Moody’s Investors Service reported by Oil & Gas Journal said the outlook for the global energy industry is stable over the next 12-to-18 months “with earnings remaining elevated as the industry steps down from exceptionally high gains in 2022.”  Moody’s expects E&P capital spending to rise by 15 percent and production […]