Prairie Energy Partners, subsidiary of El Campo-based Southern Rock Energy Partners, said last week it plans to build its $5.5 billion next-generation, full-conversion crude oil refinery in Cushing, Okla., rather than Victoria County, Texas. The refinery will produce about 91.24 million barrels or 3.83 billion gallons of cleaner transportation fuels each year, including gasoline, diesel […]
Brazos builds Sundance plant in Martin County in Midland Basin growth plan
Fort Worth-based Brazos Midstream said it is constructing Sundance, a new 200 million cfd natural gas processing plant in Martin County, as part of its plan to duplicate in Midland Basin its success in Delaware Basin since its founding in 2014. William Butler, CFO, told Midland Reporter Telegram last month, “We’re building the backbone over […]
API says U.S. petroleum demand fell in April year-to-year for fifth straight month
Washington, D.C.-based American Petroleum Institute said this week that U.S. petroleum demand – as measured by total domestic petroleum deliveries – increased by only 17,000 barrels per day in April compared to March (to 19.8 million b/d). But compared to April 2022, U.S. petroleum demand fell 0.8 percent – the fifth straight month of year-to-year […]
Granite Ridge increased Q1 production, raises fullyear production forecast
Dallas-based Granite Ridge Resources said recently it grew production in first quarter by 46 percent over 2022Q1, and it increased fullyear production forecast for 2023 to a midpoint of 22,000 boed. Production in Q1 was 23,167 boed (46 percent oil), including 10,722 b/d oil. Capital expenditures in Q1 were $126.2 million with fullyear capex expected […]
The Safe Harbor Provision Gets Scrutinized
As most operators are aware, the Texas Natural Resources Code requires payment of proceeds within a specific timeframe, but it also has a “safe harbor” provision that allows operators to suspend payment of proceeds when there is a (1) dispute concerning title that affects distribution of payments; or, (2) reasonable doubt about whether the payee […]
U.S. LNG Exports to Grow Through 2050
In its Annual Energy Outlook 2023, the U.S. Energy Information Administration (EIA) projects that U.S. natural gas production will increase 15 percent and liquefied natural gas (LNG) exports will increase 152 percent between 2022 and 2050. They expect natural gas production to rise to 42.1 trillion cubic feet (Tcf) by 2050. Production growth is largely […]
Technologies Provider Opens New Midland Outlet
Intelligent Wellhead Systems, Inc. (IWS), a supplier of digital control technologies for improving oil and gas well completion operations, recently opened a new base of operations in Midland. Officials for the company said that rapid adoption of automation technology and digital solutions for completions drove the need for local customer support, logistics, and a full-service […]
Determination, Delays, and a Dose of Drama
by Julie Anderson If the Regular Session of the 88th Texas Legislature were to be summarized in bullet points, here’s how it might read: Texas Comptroller Glenn Hegar projects a $32.7 billion surplus, giving lawmakers a spending cushion prior to the 140-day session. On Jan. 10, Texas Secretary of State Jane Nelson convenes the 88th […]
Stallion Gets Re-branded
Stallion Oilfield Services announced in April its rebranding as Stallion Infrastructure Services. As a provider of workforce accommodations for the oil and gas industry, the company has made it clear that while its name has changed, its level of commitment to the sector remains steadfast. In addition to the rebrand, Stallion Infrastructure Services will be […]
Geopolitics Tops O&G Themes for 2023
Geopolitics became a pivotal macroeconomic theme for the oil and gas industry from the start of the Ukraine conflict. The fallout of this conflict is also critically impacting the supply chain theme as newer alliances are being forged. Nevertheless, oil and gas companies will continue to pursue newer industry themes that support the energy transition […]
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