Permian Basin and Texas each lost a drilling rig in the past week while U.S. added three.  According to Baker Hughes, as of Jan. 21, there were 292 active oil and gas rigs in Permian Basin (down 1 in past week, up 104 in past year), 280 in Texas (down 1 in past week, up […]

Texas Petro Index increased for the eighth straight month in November to 169.1.  The index, prepared by petroleum economist Karr Ingham for Texas Alliance of Energy Producers (base 100 in January 1995, peak 314.0 in November 2014), grew from 164.3 in October and 138.3 in March when the current expansion began.  TPI is up 24 […]

Norwegian energy research firm Rystad said the amount of crude oil and natural gas discovered globally last year fell to the lowest level in 75 years.  Operators discovered 4.9 billion barrels of oil and natural gas in 2021, the lowest level since 1946 and down from 12.5 billion in 2020 and 15.8 billion in 2019.  […]

Exports of liquefied natural gas helped produce another record year for the Port of Corpus Christi, according to Natural Gas Intelligence.  The south Texas port ended 2021 with a record 15.7 million tons of LNG exports as global energy markets continued to recover from reduced demand caused by the coronavirus pandemic.  The port had an […]

Texas LNG Brownsville and Enbridge, North American leading energy infrastructure company, said last week they agreed to expand the Valley Crossing pipeline to deliver 720 million cubic feet per day of natural gas to Texas LNG’s export facility for at least 20 years.  The pipeline consists of a 160-mile pipeline (42 and 48 inches in […]

Fort Worth-based Split Rock Resources said last week it acquired non-operated assets in Permian Basin from a private seller for cash purchase price of $97.5 million.  The acquisition includes non-operated assets in Eddy and Lea counties in New Mexico in Delaware Basin and in Glasscock County in Texas in Midland Basin.  The assets, which currently […]

The Woodlands-based Evolution Well Services last week announced a long-term electric hydraulic fracturing contract with a Permian Basin operator to begin in 2022Q4.  The contract will employ Evolution’s “patented electric fracturing technology coupled with an innovative Simul-frac completions technique.”  The technology will be fueled 100 percent by natural gas via aero-derivative turbines rather than conventional […]

Oil and gas drillers emerged from the holidays by adding rigs in most basins and producing states during the second week of January.  Baker Hughes said as of Jan. 14 there were 293 rigs in Permian Basin (292 week ago, 189 year ago), 281 in Texas (274 week ago, 169 year ago), 95 in New […]

Fort Worth-based HighPeak Energy, Midland Basin pure play, said its 2022 plans include a four-rig program to bring 80 to 100 wells online in Howard County (60 to 75 percent in Flat Top area).  The company expects to spend $610 million to $660 million for drilling, completions, equipping and facilities in its 2022 overall capex […]