Production of oil and natural gas is expected to decline again this month in seven U.S. major producing regions, according to the latest drilling productivity report from the U.S. Energy Information Administration. Across the seven regions, oil production is forecast to decline by 77,000 b/d in March to 7.504 million b/d from 7.581 million b/d […]

Arlington-based U.S. Energy Development Corp., privately-held oil and gas operator, last week said it acquired interests in Shetland and WarWink oil development projects in Delaware Basin. Shetland is located in an opportunity zone in Eddy County, N.M., and contains an interest in 14 producing wells and 6 recently proposed oil wells targeting initial production in […]

Dallas-based Energy Transfer said last week it agreed to acquire Enable Midstream Partners of Oklahoma City in an all-equity transaction valued at $7.2 billion. Energy Transfer’s Feb. 17 announcement reported “complementary assets with significant integration opportunities.” The acquisition will increase Energy Transfer’s footprint across multiple regions and provide increased connectivity for its natural gas and […]

Recent winter storms that brought ice, snow and sub-zero weather to Texas in February slowed drilling activity in the oil and gas industry. Baker Hughes said that as of Feb. 19 Permian Basin and Texas each added only 1 active rig in the previous week, and rig counts in New Mexico and U.S. were unchanged. […]

Enverus said last week estimates of flaring intensity in Permian Basin, measured via satellites, was about 160 MMcfd for January 2021. Estimated flaring intensity remained steady in October, November and December 2020 at more than 200 MMcfd. Enverus added, “An increase in egress capacity out of the basin as well as greater pressure on operators […]

The Woodlands-based Ring Energy said this week four horizontal wells drilled in December and January in northwest shelf San Andres “on some of our highest rate-of-return acreage in Yoakum County” are expected to be completed and on production by the first week of March. Ring Energy said Monday it plans to drill 6-to-8 wells and […]

Fort Stockton-based MMEX Resources said Feb. 8 it is developing solar energy to distribute power to multiple planned projects in Texas – including its refinery in Pecos County – producing hydrogen and ultra-low sulfur clean fuels combined with carbon dioxide capture. The complex being developed in Pecos County originally was to be a distillation unit […]

Port of Corpus Christi said it ended 2020 with record tonnage thanks primarily to 65 percent increase in crude oil shipments compared to 2019. The port set a new annual record of 159.7 million tons – 31 percent increase over 2019. The port also had a 26 percent increase in LNG shipments. Port officials added, […]

Texas Petro Index declined for the 22nd consecutive month in December 2020 to 134.3 from 137.0 in November 2020 and 193.2 in December 2019 (down 30.5 percent), according to Texas Alliance of Energy Producers. The index is a statewide measure developed by petroleum economist Karr Ingham that started at 100.0 in January 1995. Ingham said, […]