VTX Energy Partners, U.S. upstream unit of global energy company Vitol, Inc., said Jan. 19 it will acquire Midland’s Delaware Basin Resources and its associated surface and water businesses. The deal is VTX’s first acquisition since the partnership was established by Vitol and VTX last year. Assets to be acquired include 35,000 net leasehold acres […]

Texas Workforce Commission said last week that upstream oil and gas employment increased by 1,300 jobs in Texas in December and by 36,100 for the year 2022 to 211,200.  Todd Staples, president of Texas Oil and Gas Association, said, “It is encouraging to see upstream employment end the year on a positive note, particularly as […]

Texas’ oil and natural gas industry paid a record $24.7 billion in state and local taxes and state royalties in fiscal year 2022, according to annual economic impact report released Monday in Austin by Texas Oil and Gas Association.  Todd Staples, association president, said the total “shattered” the previous record of $16 billion in 2019 […]

Texas was only major producing state to add drilling rigs last week (up 1 to 380), according to weekly report of Jan. 20 by Baker Hughes.  Also, there were 354 rigs in Permian Basin (down 2 in past week), 102 in New Mexico (down 1 in past week) and 771 in U.S. (down 4 in […]

Forecast of oil production in Permian Basin by U.S. Energy Information Administration continues to grow.  EIA said Jan. 17 that production in Permian is expected to increase by 30,000 b/d in February to 5.635 million b/d from 5.605 million b/d in January.  In 7 major producing regions, production is expected to grow to 9.375 million […]

Pronto Midstream, subsidiary of Dallas-based Matador Resources, said Tuesday it agreed to acquire Advance Energy Partners and its oil- and natural gas-producing properties and undeveloped acreage in Delaware Basin for initial cash payment of $1.6 billion.  The deal includes about 18,500 net acres (99 percent held by production) in core of northern Delaware Basin in […]

U.S. Department of Interior said recently it has opened a new program office intended to ensure effective, accountable and efficient implementation of the federal government’s recent investment in cleanup of orphaned oil and gas wells.  Last year $43.7 million was allocated in initial funding for New Mexico from a total funding of $4.7 billion.  The […]

Tulsa-based Laredo Petroleum said last month it is changing its name to Vital Energy.  In Laredo’s 2022 environmental, social and governance and climate risk reports, Jason Pigott, president and CEO, said Laredo’s rebrand effective Jan. 9 is “consistent with its goal to ensure everyone has access to the reliable, affordable energy resources needed to power […]