Oslo-based research firm Rystad Energy said Jan. 14 that the share of gross natural gas output that is flared at the wellhead in Permian Basin plummeted to a modern shale-era record low in 2020Q4. Rystad said preliminary data show 1.6 percent of Permian gas production was flared in 2020Q4. The absolute amount of flared gas […]

Three new members will be added to the Petroleum Hall of Fame April 29 at Bush Convention Center in Midland. They are Frank M. Late, a native of Arkansas and automobile dealer who launched his oil and gas career in 1944 with the beginning of Cactus Drilling; Paul L. Morris, a native of West Virginia […]

Port of Brownsville said Jan. 5 it reached long-term lease agreement with Texas LNG Brownsville to secure the Texas LNG export project site for up to 50 years. The port’s announcement said, “The lease agreement is an important milestone bringing the FERC-permitted project closer to a final investment decision while also confirming to LNG buyers […]

Minneapolis-based Northern Oil and Gas said Jan. 7 its 11 transactions in 2020Q4 included 4 in Permian Basin that accounted for 1.1 net wells in process, 219 net acres and 0.6 net undrilled locations. Northern invests in non-operated minority working and mineral interests in oil and gas properties in Permian and Williston. Northern’s $8.4 million […]

U.S. Rep. Debra Haaland (D-NM) is president-elect Joe Biden’s nominee for secretary of the U.S. Department of the Interior, which oversees land management, ocean energy management, wildlife management and science, and geological sciences. Haaland, 60, is a graduate of Highland High School in Albuquerque and University of New Mexico and a former chair of the […]

IHS Markit vice chairman Daniel Yergin said recently that global oil demand likely will take at least another year to return to pre-pandemic levels. Shale production will remain relatively unchanged at about 11 million b/d until late 2021 before it starts rising, IHS Markit said, and it will increase at a much more moderate pace. […]

Texas and Oklahoma were the only major producing states that added oil and gas drilling rigs in the final week of 2020. Baker Hughes said as of Dec. 31 there were 175 rigs in Permian Basin (173 previous week), 161 rigs in Texas (159 previous week), 65 rigs in New Mexico (unchanged) and 351 rigs […]

New Mexico’s oil conservation commission began two weeks of public testimony Monday in an online hearing on proposed rules for managing venting and flaring. Upon taking office in January 2019, Gov. Michelle Lujan Grisham said her administration would adopt some of the nation’s toughest rules for curtailing methane and other emissions. EnergyWire from E&E News […]

Houston-based Kinder Morgan said this week its $2 billion Permian Highway natural gas pipeline from Permian Basin to Katy entered full service Jan. 1. Gas has been flowing for weeks during the commissioning process. Energy traders told Reuters those flows boosted prices recently at Waha hub in west Texas. Kinder Morgan said Monday that Permian […]