Riley Exploration Permian, Inc., announced Feb. 28 that it has entered into a definitive purchase agreement to acquire oil and gas assets from Pecos Oil & Gas, LLC, an affiliate of Cibolo Energy Partners LLC, for cash consideration of $330 million. The acquisition will be funded through a combination of borrowings under the Company’s revolving credit […]
RRC: Some Federal Funds Possibly Not Forthcoming
The Railroad Commission of Texas announced Feb. 27 it had comments on draft guidance issued by the U.S. Department of the Interior (DOI) for utilizing formula grants to plug orphaned oil and gas wells. Several aspects of the draft guidance have caused concern for the RRC because it could hinder the state’s efforts to use […]
Donation Benefits Petroleum Museum
ValTek, LLC, an Odessa-based manufacturer of high-performance hydraulic fracturing pumps, parts, and expendables, donated $50,000 on Feb. 23 to the Permian Basin Petroleum Museum, the nation’s largest museum dedicated to the petroleum industry. ValTek was awarded $50,000 at the Daniel Energy Partners BBQ Cook-Off in September after being named Grand Champion of the event. The […]
Veritas Acquires Woodmac
(BUSINESS WIRE)—Veritas Capital, an investor at the intersection of technology and government, announced Feb. 2 that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK). Wood Mackenzie is an industry leader in providing data, analytics, and insights used to power the energy, renewables, and natural resources industry for nearly […]
Texas’ Gas Supply Steady During Winter Storm Mara
The natural gas supply in the state of Texas held steady to help provide heating to homes and fuel for electricity generation during Winter Storm Mara (late January), according to the Railroad Commission of Texas. The RRC kept round-the-clock contact with operators and other state agencies during Winter Storm Mara. Natural gas utilities reported no […]
Companies Partner for High HP, Low Emissions
GD Energy Products (GDEP), a total solutions provider for the frac, drilling, and well servicing pumps market, and Catalyst Energy Services, an emerging stimulation service company specializing in hydraulic fracturing treatment, announced on Jan. 10 their partnership to bring high horsepower, lower emissions technology to hydraulic fracturing. Together, the companies commit to applying their innovations […]
SLB Acquires Gyrodata Ltd.
(Business Wire) SLB announced Feb. 3 its completed acquisition of Gyrodata Incorporated, a global company specializing in gyroscopic wellbore positioning and survey technology. The transaction incorporates Gyrodata’s wellbore placement and surveying technologies within SLB’s Well Construction business, bringing customers innovative drilling solutions. This combination will improve wellbore quality and reduce drilling risk to unlock remote […]
O&G Robotics to Grow Tenfold by 2030
The single major advantage of robotics is automation, which drives other improvements in efficiency, productivity, and safety. Automation enables extensive inspection and maintenance tasks to be conducted while feeding back data to help limit operational costs and improve efficiency. Advances in modular and customizable robots will result in growing deployment of robotics in the oil […]
Four Steps to Refill Your Team’s Energy Tank
By Laurie Guest There’s never a perfect time to pause your day-to-day work and focus on the internal team, but when you do make the effort, the dividends are immediate. Setting aside an hour, a half-day, a two-day retreat or anything you can manage as a team will provide the opportunity to gather together, grow […]
Production Climbs in Lower 48
U.S. crude oil production grew steadily in 2022 thanks to increased energy demand in the United States and internationally. GlobalData noted that the majority of this production has been conducted in the Lower 48 (L48) region, which represented nearly three-fourths of total production. The data and analytics company notes that this upward swing is expected […]
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