Fort Worth-based U.S. Energy Development Corp. said this week it will spend up to $1 billion this year primarily in Permian Basin.  The announcement followed a record-breaking year during which USEDC deployed nearly $800 million into operated and non-operated projects.  Jordan Jayson, chairman and CEO, said Monday, “Our long-term acquisition and production strategies continue to […]

Data from U.S. Bureau of Labor Statistics and Texas Independent Producers and Royalty Owners Association show a decline in upstream employment in the industry in Texas in December.  TIPRO said upstream employment in the state in December was 195,500 – a decrease of 700 positions from November (500 in oil and gas extraction, 200 in […]

Chris Wright, CEO of Denver-based Liberty Energy, was confirmed by the U.S. Senate Monday as secretary of energy in the new administration of President Donald Trump.  Wright, 60, has been chair and CEO of Liberty since 2011.  A graduate of MIT, he founded Pinnacle Technologies and later served as chairman of Stroud Energy.  He was […]

U.S. Energy Information Administration expects Henry Hub natural gas price to increase in 2025 and 2026 as demand for natural gas grows faster than supply.  There is more demand from U.S. LNG export facilities which reduces natural gas in storage compared with the last two years.  EIA said Jan. 23 it expects U.S. benchmark Henry […]

Austin-based Atlas Energy Solutions said last week it agreed to purchase Moser Energy Systems, a provider of distributed power solutions, in a cash and stock transaction valued at $220 million ($180 million cash).  Atlas said the combination of its completion platform and Moser’s distributed power platform creates “an innovative, diversified energy solutions provider with a […]

Permian Basin and U.S. added drilling rigs last week for the first time in eight weeks, according to the weekly report of Jan. 31 from Baker Hughes.  There were 303 rigs in Permian Basin (up 5 in the past week, down 8 in the past year) and 582 in U.S. (up 6 in the past […]

East Daley Analytics recently attributed NGL production records in 2024Q4 to Targa’s Daytona pipeline from Permian Basin to Mont Belvieu and Targa’s access to Energy Transfer’s Sendero plant, where Daytona receives much of its NGL volumes in New Mexico.  NGL production hit another record in October 2024 after previous records in March, April, May and […]

Houston-based WaterBridge Operating and NDB Midstream said last week they agreed to support the long-term development plans of BPX Production in the Stateline region of Delaware Basin.  WaterBridge will construct and operate 400,000 barrels per day of new produced water capacity in the next three years with the ability to increase capacity to 600,000 b/d. […]