A partnership of Petroleum Professional Development Center at Midland College and Permian Basin Petroleum Association will present the annual Permian Basin Environmental Regulatory Seminar next week.  The one-day event will be held Thursday, April 30, at Bush Convention Center in Midland. Among the speakers will be two officials from the Railroad Commission of Texas, Austin […]

Golden Pass LNG, the nation’s tenth liquefied natural gas terminal, shipped its first cargo from Train 1 this week.  The shipment left port Wednesday 23 days after achieving first LNG production.  U.S. Energy Information Administration said Golden Pass LNG is the nation’s only new LNG export facility expected to begin shipments this year. Golden Pass […]

Senator Kevin Sparks of Midland has been named chair of the natural resources committee of the Texas Senate by Lt. Gov. Dan Patrick.  After the departure of five senators, including four committee chairs, Patrick named leaders of standing committees and new interim committees.  They will remain in their positions through the 90th session of the […]

Phillips 66 and Kinder Morgan said Monday they will advance the proposed Western Gateway pipeline for refined products to supply fuel to Arizona and California.  The project with capacity of 200,000 barrels per day is designed as a refined products system of 1,300 miles with new-build pipeline from Borger to Phoenix.  It will be combined […]

The count of active oil and gas drilling rigs in U.S. declined for the second straight week while Permian Basin reported 242 rigs for the third week in a row.  Baker Hughes said as of April 17 there were 543 rigs in U.S. (down 2 in past week, down 42 or 7.18 percent from 585 […]

Houston-based EagleRock Land last week filed with the SEC for an initial public offering that could raise up to $200 million.  EagleRock Land collects royalties and fees from oil and gas production on the land it owns and manages in Permian Basin.  It owns or controls about 236,000 acres of surface land in Delaware Basin […]

Fort Worth-based U.S. Energy Development Corp. said recently it will spend up to $1 billion in 2026 to “build on its momentum from 2025 to expand its portfolio of upstream assets across the lower 48.”  The company said it will “focus the bulk of its capital spending expanding its high-quality inventory in the Permian Basin.” […]

After producing 401,500 boed in fourth quarter, Midland-based Permian Resources last week forecast 400,000-to-430,000 boed for fullyear 2026.  The forecast for crude oil production for 2026 is 186,000-to-192,000 barrels per day after 4Q oil production of 188,633 b/d.  In 4Q the company also reduced costs 14 percent from 2024 to about $700 per foot. James […]

Houston-based Occidental Petroleum and its subsidiary 1PointFive said this week they expect Phase I of the STRATOS direct air capture plant in Ector County in Permian Basin will come online in second quarter.  1PointFive said Phase 1 “is in the final stage of startup.”  Phase 2, which incorporates learnings from research and development and Phase […]

Irving-based ExxonMobil said last week its record 5.0 million oil-equivalent barrels per day of production in 2025 fourth quarter included 1.8 million boed from the Permian Basin.  The surge “is largely attributed to the successful integration of Pioneer Natural Resources, a $60 billion mega-merger finalized in 2024 that more than doubled Exxon’s footprint in the […]