U.S. Energy Information Administration said Tuesday retail price of gasoline is expected to be lower in 2025 and 2026 compared to 2024.  The estimates reflect the EIA forecast of lower crude oil prices.  EIA forecasts U.S. gasoline prices in 2025 will average $3.20 per gallon – a decrease of more than 10 cents per gallon […]

Texas Oil and Gas Association said last week that in addition to producing a record amount of state and local taxes and state royalties in fiscal year 2024, the U.S. leads the world in emissions reductions.  With Texas out front, emissions dropped between 2015 and 2022 by 42 percent in key production regions.  S&P Global […]

U.S. Energy Information Administration said this week the Permian Basin’s share of U.S. production will continue to increase and account for more than 50 percent of all U.S. crude oil production in 2026. In its short-term energy outlook Tuesday, EIA said U.S. crude oil production reached an annual record of 13.2 million barrels per day […]

Austin-based Atlas Energy Solutions said this week it made the first commercial delivery of sand off the Dune Express, its 42-mile conveyor system.  Early on Sunday morning, a commercial proppant delivery occurred at Atlas’ end-of-line facility in New Mexico after it was produced and placed on the Dune Express at Atlas’ Kermit facility. John Turner, […]

ExxonMobil is the Permian Basin leader in oil and gas drilling rigs as of Aug. 9, according to Enverus, with 37 working rigs.  Other leaders include Occidental with 21 rigs, EOG Resources, Mewbourne Oil and Devon Energy with 16 each, ConocoPhillips with 15, Chevron and Permian Resources with 12 each, and Diamondback Energy and Endeavor […]

After a week of gains, Permian Basin, Texas and U.S. returned to declining counts of drilling rigs last week, according to the weekly report of Aug. 16 from Baker Hughes.  There were 303 rigs in Permian Basin (down 1 from 304 previous week, down 24 from 327 year ago), 273 in Texas (down 3 from […]

Houston-based Trace Midstream Partners II said recently it reached agreement with LM Energy Delaware to acquire its natural gas gathering and transportation assets in northern Delaware Basin.  The system in Eddy and Lea counties in New Mexico consists of high- and low-pressure gas pipelines with associated compression, dehydration, condensate handling and vapor recovery capabilities. LM […]

Midland wildcatter and military veteran Autry Carl Stephens, founder of Endeavor Energy Resources and recipient of the Top Hand Award from Permian Basin Petroleum Association, died at the age of 86.  Endeavor said its board chairman died Aug. 16 and will be succeeded as chairman by his daughter, Lyndal Stephens Greth, an attorney who served […]

Fort Worth-based Brazos Midstream Holdings III said last week it completed construction of a cryogenic gas processing plant in Martin County.  Sundance I is scheduled to start commercial service in October with capacity of 200 million cfd.  Brazos said Aug. 15 it also is in final stages of constructing about 175 miles of high-pressure gas-gathering […]

Saudi Arabia, U.S. and Russia continue to rank 1-2-3 in total global recoverable oil reserves, according to Oslo-based Rystad Energy’s latest research.  Rystad this week raised its estimate of total global recoverable oil to 1,624 billion barrels – an increase of 52 billion barrels compared to its estimate last year.  Oil & Gas Journal called […]