U.S. added 3 rigs in the past week for 589 active oil and gas drilling rigs, according to the weekly report of July 26 by Baker Hughes.  That’s down 75 from 664 a year ago.  But Texas and New Mexico did not contribute to last week’s gain.  Both were unchanged – Texas at 276 (322 […]

Midland-based Permian Resources said Monday it reached agreement with Occidental Petroleum to purchase a large, contiguous acreage position in Delaware Basin for $817.5 million.  The acquisition is comprised of 29,500 net acres, 9,900 net royalty acres and 15,000 boed near Permian Resources’ existing position in Reeves County.  The deal adds about 200 gross operated locations […]

U.S. Energy Information Administration said Thursday the nation’s power plant operators generated 6.9 million megawatt hours (MWh) of electricity from natural gas on a daily basis in the lower 48 states July 9.  It’s probably the most in history and certainly since at least Jan. 1, 2019, when EIA began collecting hourly data about natural […]

Katy-based U.S. Silica said last week its previously announced agreement to be acquired by funds managed by affiliates of investment firm Apollo Global Management was approved by the company’s stockholders.  Closing of the all-cash transaction valued at $1.85 billion is expected by the end of 2024Q3. U.S. Silica is a diversified industrial minerals company, logistics […]

Newport Beach-based Clean Energy Fuels said Wednesday it started construction of a renewable natural gas production facility at South Fork Dairy in Dimmitt in Castro County.  Groundbreaking occurred for a facility that will produce RNG, an ultra-clean transportation fuel that is made from organic waste and receives a negative carbon intensity score.  South Fork Dairy […]

Enverus said last week the number of frac crews working in Permian Basin grew as of June 28 to 114 from 108 the previous week.  The count is down from 139 a year ago.  Other leading regions include Rockies with 30 crews (up from 28 previous week, down from 69 a year ago), Gulf Coast […]

The weekly rig count by Houston-based Baker Hughes shows 305 rigs in Permian Basin for the fourth straight week.  It’s been 13 weeks since Permian recorded an increase (up 2 to 318 April 19).  A year ago Permian reported 333 rigs. Also, U.S. added 2 rigs to 586 (669 a year ago), and there were […]

Dallas-based Energy Transfer said last week it formed a joint venture with Sunoco to combine the two companies’ crude oil and produced water gathering assets in the Permian Basin.  The JV will be operated by Energy Transfer and will include more than 5,000 miles of crude oil and water gathering pipelines and crude oil storage […]