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 […]

Oil and natural gas tax contributions also remained high in August, according to Texas Independent Producers and Royalty Owners Association. According to data from the Texas comptroller’s office, in August Texas energy producers paid $445 million in oil production taxes, a six-month high. Producers also paid $194 million to the state in August in natural […]

Citing data from the U.S. Bureau of Labor Statistics, Texas Independent Producers and Royalty Owners Association highlighted new employment figures that show an increase in upstream employment in Texas in August. According to TIPRO’s analysis, direct Texas upstream employment for August totaled 205,100, an increase of 200 industry positions from July. This represented a decrease […]

U.S. crude production hit a record high of 13.64 million barrels per day in July, according to U.S. Energy Information Administration.  Major producing states Texas and New Mexico contributed significantly to the new standard.  The U.S. mark was 109,000 barrels above the previous record in June. Production in Texas rose to 5.8 million barrels per […]

Count of active drilling rigs in U.S. declined for the sixth straight week as of June 6, according to the latest weekly report from Baker Hughes.  There were 559 rigs in U.S. – down 4 from 563 week ago and down 35 or 5.9 percent from 594 year ago.  The six-week decline has dropped the […]