Data from Texas Workforce Commission and Texas Oil and Gas Association show that the state’s oil exploration and production industry added 2,300 jobs in February and 7,400 jobs since September. That brings the total drilling and oil extraction employment in Texas to 164,900 jobs. Houston Chronicle said it’s “a sign that the industry is recovering […]

Houston-based Evolution Petroleum said March 30 it agreed to acquire non-operated oil and gas assets in Barnett Shale from TG Barnett Resources, wholly owned subsidiary of Tokyo Gas America, for $23.25 million. The assets include 23,000 net acres held by production in nine counties in north Texas with current net production of 22 MMcfd of […]

Permian Basin added crude oil and natural gas drilling rigs for the 10th straight week, and U.S. added 13 rigs in the past week for its biggest gain since January 2020, according to the April 1 report from Baker Hughes. Permian has 224 rigs (up 3 in past week), Texas has 209 rigs (up 4 […]

The Woodlands-based Earthstone Energy said April 1 it agreed to two deals to acquire privately held, operated assets in Midland Basin from Tracker Resource Development and an affiliate and also from affiliates of Sequel Energy Group. Aggregate purchase price is about $126.5 million. Assets include low-cost, stable, producing assets in complementary location to Earthstone operated […]

Dallas-based Pioneer Natural Resources said April 1 it agreed to purchase leasehold interests and related assets of Fort Worth-based DoublePoint Energy in a transaction valued at $6.4 billion, including $900 million of debt. Enverus said it’s the largest acquisition of a U.S. exploration and production private company since 2011 and one of the largest private […]

New Mexico reported record production of crude oil and natural gas last year, but the rate of year-to-year growth declined. The state’s Oil Conservation Division said New Mexico produced 367.8 million barrels of oil in 2020 – an increase of 10.8 percent from output of 331.8 million in 2019. The rate of increase from 2018 […]

Increasing crude oil prices continue to stimulate drilling activity. Houston-based Baker Hughes said as of March 26 Permian Basin added rigs for the ninth straight week. With an additional 5 rigs in the past week, Permian Basin has 221 rigs after starting 2021 with 175. There also are 205 rigs in Texas (202 previous week, […]

San Antonio-based NuStar Energy said March 3 it will develop 6,000 barrels of incremental pipeline capacity for additional refined products, including gasoline, diesel and jet fuel, into the Albuquerque region. NuStar will upgrade pump stations in a pipeline system it jointly owns with Phillips 66 Partners that transports refined products from Amarillo to Albuquerque. The […]

Calgary-based Freehold Royalties said March 4 it closed on two additional royalty transactions for $3.8 million to complement its positions in Permian Basin and Bakken. These assets are expected to add 75 boed to the company’s average 2021 production. The two acquisitions follow a U.S. royalty buy for $58 million that closed Jan. 5 weighted […]