Houston-based Plains All American Pipeline completed the previously announced acquisition of a 55 percent equity interest in EPIC Crude Holdings on Oct. 31, and effective Nov. 1 it completed acquisition of the remaining 45 percent operated equity interest in EPIC.  The earlier 55 percent interest was acquired from Midland’s Diamondback Energy and Kinetik Holdings.  The […]

Houston-based ConocoPhillips said last week its third quarter production increased about 4 percent compared to 2024Q3, and its fullyear 2025 production forecast of 2.375 million boed is above prior guidance.  Production for 3Q averaged 2.399 million boed – up 482,000 boed from a year earlier driven in part by its acquisition of Marathon Oil.  Lower […]

U.S. Department of Energy said Wednesday it purchased 900,000 barrels of sour crude oil for nearly $56 million (about $62 per barrel) to help replenish the nation’s strategic petroleum reserve.  The purchase was comprised of 600,000 barrels from Trafigura Trading and 300,000 from Energy Transfer Crude Marketing for a solicitation that was announced in October.  […]

Houston-based Chevron selected the Permian Basin in west Texas as home of its first natural gas power project to support growing demands by AI data centers.  Chevron said Wednesday it hopes to bring the power plant online by 2027.  The company, one of the biggest producers in the Permian Basin, did not reveal the data […]

Findlay, Ohio-based MPLX agreed to supply natural gas to MARA Holding’s planned power generation facilities and state-of-the-art data centers in west Texas.  MPLX said Nov. 4 it will supply natural gas from its processing plants in Delaware Basin to MARA’s gas-fired electricity generation facilities to be built in west Texas.  MARA will build multiple power […]

Count of active drilling rigs in U.S. increased for the third time in the last four weeks, according to the weekly report of Nov. 7 by Baker Hughes.  The U.S. count was 548 (up 2 in the past week but down 37 or 6.3 percent from 585 reported a year ago). Also as of Nov. […]

BP said last week it will sell minority interests in certain U.S. pipeline assets in Permian Basin and Eagle Ford Shale to investment firm Sixth Street for $1.5 billion.  Reuters reported that the sale is part of a $20 billion divestment program aimed at bringing debt levels down and comes as BP reviews its oil […]

Midland’s Viper Energy expects fourth quarter oil production of 65,000 to 67,000 barrels per day – an increase of about 20 percent in oil production per share compared to 2024Q4.  Total production is forecast at 124,000 to 128,000 boed.  Viper said production in Q3 was 56,087 b/d of oil (108,859 boed). Kaes Van’t Hof, CEO, […]

Another loan from the Texas Energy Fund will be used to construct a natural gas power plant in Ward County in west Texas.  Gov. Greg Abbott announced last week the fifth loan in the program to fund a plant of 1,350 megawatts by Competitive Power Ventures Basin Ranch, which is expected to begin generating power […]

Delta Sands said last week it will construct a new wet sand processing facility near Buffalo in Leon County in east Texas in western Haynesville Shale.  The project is designed to “meet the increasing demand for high-quality, in-basin proppant as natural gas development and infrastructure expansion accelerate across east Texas.”  Delta Sands said capacity will […]