The trunk/transmission pipeline segment is set to dominate upcoming midstream oil and gas projects in the United States, accounting for about 46 percent of the project starts between 2023 and 2027, says GlobalData, a leading data and analytics company. GlobalData’s report, “North America Oil and Gas Projects Analytics and Forecast by Project Type, Sector, Countries, Development […]
Patent Infringement Lawsuit Resolve
(BUSINESS WIRE) Crusoe Energy Systems LLC and Alkane Midstream LLC announced March 21 they have agreed to resolve a lawsuit related to patent infringement. Both parties have agreed to dismiss the lawsuit and enter into a mutually beneficial license agreement. Denver-based Crusoe builds and operates Digital Flare Mitigation systems, a technology that converts otherwise stranded […]
Double Eagle Deepens Investment
(BUSINESS WIRE) EnCap Investments L.P., Double Eagle Energy Holdings IV, LLC, and Tumbleweed Royalty IV, LLC announced Jan. 9 the successful equity commitment upsize and establishment of their RBL facility. The expansion of capital will provide for acceleration of Double Eagle’s core strategy of acquiring and developing top-tier, accretive drilling opportunities in the Permian Basin. […]
Charitable Group Celebrates 20th Year
Oilfield Helping Hands (OHH), a non-profit organization helping oilfield families in financial crisis due to no fault of their own, celebrates 20 years of providing support to industry families. Gene Pate, chairman of the board, OHH, said, “We are so pleased to celebrate 20 years of working together to make a difference across the oilfield. OHH is […]
Polyethylene Growth Expected
The production of fossil fuel-based polyethylene is expected to plateau in the early 2040s, according to the latest findings from the new IHS Markit Circular Plastics Service which provides a comprehensive, scenario-based road map of how the plastics value chain could transition from a linear to a circular economy. By conducting rigorous, scenario-based analyses of global, large-volume polymers, the […]
O&G Contract Values Climb
The COVID-19 pandemic has had a significant impact on the oil and gas industry, leading to a decline in demand and a drop in oil prices. However, the industry has been recovering since then, with oil prices gradually increasing and demand for energy returning to pre-pandemic levels. Consequently, the overall oil and gas industry contract […]
Riley Permian Announces NM Acquisition
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 […]
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