Midland-based Desert Royalty and Denver-based Kimmeridge Energy said July 17 they merged their Delaware Basin oil and gas royalty assets into one company named Desert Peak Minerals. They said it will be “the largest pure-play mineral and royalty company in the Delaware Basin by net royalty acres.” Desert Peak Minerals will be headquartered in Denver […]
Solaris begins operations at Lobo Ranch, starts construction at Bronco
Houston-based Solaris Water Midstream said July 16 it started operations at its expanded Lobo Ranch Produced Water Recycling and Blending Center, a produced water recycling and non-potable water blending facility in Eddy Counrty near Malaga, N.M. Solaris also started development of its Bronco facility, an additional recycling and blending facility in nearby Lea County. The […]
Longhorn Midstream subsidiary starts building oil pipeline in Eddy County
Dallas-based LM Touchdown Crude II, subsidiary of Longhorn Midstream, said July 15 it started construction of its Touchdown crude oil gathering system in northern Delaware Basin. The 50-mile greenfield pipeline system initially will gather from and deliver to points in Eddy County. The gathering system is scheduled to enter partial service in September with full […]
U.S. crude oil production surpasses 12 million barrels per day for first time
According to the latest Petroleum Supply Monthly from U.S. Energy Information Administration, U.S. monthly crude oil production surpassed 12 million barrels per day for the first time in April 2019. The U.S. produced 12.16 million b/d in April – up 246,000 b/d or 2.06 percent from a month earlier. The EIA added, “This milestone comes […]
Rig counts decline to 437 in Permian Basin, 456 in Texas, 958 in U.S.
New Mexico remained unchanged with 102 active oil and gas drilling rigs (99 a year ago), but the counts from Baker Hughes as of July 12 declined for the past week in Permian Basin, Texas and U.S. There are 437 rigs in Permian Basin (443 a week ago, 476 a year ago), 456 rigs in […]
Production continues to grow, but Texas Petro Index again declines
The Texas Petro Index from petroleum economist Karr Ingham posted a modest decline for the third straight month in May to 210.1. After the base of 100 was established in January 1995, the index peaked at 313.9 in November 2014. Two years later, November 2016, it dropped to 146.6. After starting 2019 at 212.5, the […]
Callon Petroleum acquires Carrizo to add Delaware Basin assets
Houston-based Callon Petroleum said Monday it will acquire another Houston company, Carrizo Oil & Gas, in an all-stock transaction valued at $3.2 billion. The deal will create “a leading oil and gas company with scaled development operations across a portfolio of core oil-weighted assets in both the Permian Basin and Eagle Ford Shale.” Callon and […]
MMEX Resources completes sales of products from refinery in Pecos County
MMEX Resources of Fort Stockton has completed product sales for its proposed crude oil refinery complex in Pecos County. Jack W. Hanks, president and CEO, said July 1 that the company signed an agreement to sell naphtha to an international energy and trading company for delivery by rail to Texas Gulf Coast refinery and petrochemical […]
Permian Basin adds 2 rigs in past week; rig counts down in Texas, U.S.
Permian Basin added rigs for the second straight week, according to Baker Hughes’ July 3 count of active oil and gas drilling rigs. That’s the first two-week gain since April. Permian Basin had 443 rigs (441 previous week, 475 previous year). Also as of July 3, Texas had 463 rigs (464 previous week, 526 previous […]
Enterprise increases capacity for export at Houston ship channel
Houston-based Enterprise Products Partners said Monday it will expand its facilities at the Houston ship channel to increase its ability to export crude oil, liquefied petroleum gas and polymer grade propylene. The new projects will increase LPG loading capacity by an additional 260,000 b/d by 2020Q3 and give Enterprise nameplate capacity to load up to […]
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