The state’s new task force on petroleum theft conducted its first meeting last week in Austin.  Jim Wright, chair of the Railroad Commission of Texas, presided over the meeting Oct. 29 of the new group created in the recent 89th session of the Texas legislature.  Wright told task force members, “Your work in the coming […]

Permian Basin reported an additional active drilling rig for the second time in three weeks in Baker Hughes’ weekly count as of Oct. 31.  Permian now has 251 rigs (up 1 in the past week but down 52 or 17.2 percent from 303 a year ago). Also as of Oct. 31, there were 235 rigs […]

Spring, Texas-based ExxonMobil said Friday its third quarter net production of 4.769 million boed included record output from Permian Basin and Guyana.  In the Permian, ExxonMobil set a production record of nearly 1.7 million boed while continuing to expand the use of proprietary technologies such as its lightweight proppant that improves well recovery by up […]

SM Energy and Civitas Resources have agreed to merge and create a top 10 independent oil and gas company that will produce more than 500,000 boed from Permian Basin in Texas and New Mexico, DJ Basin in Colorado and two other basins.  The combined company’s enterprise value of about $12.8 billion includes each company’s net […]

Spring-based industry major ExxonMobil reportedly is using a proprietary lightweight proppant made from petroleum coke in wells in the Permian Basin to improve production and lower costs.  The proppant is designed to be transported further into fractures than traditional sand to keep more fracture area open and increase overall resource recovery by up to 15 […]

Dallas-based Cardinal Midstream Partners said last week it plans to expand its Pecos River natural gas processing complex in Loving County in Permian Basin.  The expansion is scheduled for completion in early 2026.  It will add 220 million cubic feet per day of capacity and increase Cardinal’s total capacity to 360 million cfd (with flexibility […]

New Mexico reported a gain of 4 rigs in the past week in Baker Hughes’ latest weekly report of active drilling rigs, but Texas led major producing states that reported declines with a loss of 6 rigs.  As of Oct. 10, there were 100 rigs in New Mexico (up from 96 week ago and 99 […]

U.S. Energy Information Administration has increased its forecast for the nation’s crude oil production this year.  EIA said last week in its latest Short Term Energy Outlook that crude oil production was a record 13.6 million barrels per day in July and is forecast to be 13.53 million b/d for 2025 and 13.51 million b/d […]

Houston-based LandBridge said last week it agreed to purchase about 37,500 total acres in Loving, Reeves, Ward and Winkler counties in west Texas from 1918 Ranch & Royalty.  The assets include 22,000 fee surface acres, 3,500 surface acres held in a long-term agreement and 12,000 leasehold surface acres.  Closing is expected in 2025Q4. The transaction […]

NRG Energy will receive a $562 million low-interest loan through a state fund that supports construction of new natural gas power plants. It’s the third and largest loan announced under the Texas Energy Fund.  The 20-year loan (for 60 percent of project cost) will allow NRG to move forward with construction of a 721-megawatt unit […]