Houston-based Trace Midstream Partners II said recently it reached agreement with LM Energy Delaware to acquire its natural gas gathering and transportation assets in northern Delaware Basin.  The system in Eddy and Lea counties in New Mexico consists of high- and low-pressure gas pipelines with associated compression, dehydration, condensate handling and vapor recovery capabilities. LM […]

Midland wildcatter and military veteran Autry Carl Stephens, founder of Endeavor Energy Resources and recipient of the Top Hand Award from Permian Basin Petroleum Association, died at the age of 86.  Endeavor said its board chairman died Aug. 16 and will be succeeded as chairman by his daughter, Lyndal Stephens Greth, an attorney who served […]

Fort Worth-based Brazos Midstream Holdings III said last week it completed construction of a cryogenic gas processing plant in Martin County.  Sundance I is scheduled to start commercial service in October with capacity of 200 million cfd.  Brazos said Aug. 15 it also is in final stages of constructing about 175 miles of high-pressure gas-gathering […]

Private equity investment firm Bernhard Capital Partners said last week it agreed to acquire New Mexico Gas Co., wholly owned operating company of Halifax-based Emera, in a transaction valued at $1.252 billion. The deal includes $500 million of debt. Scott Balfour, president and CEO of Emera, said Aug. 6, “New Mexico Gas is a strong […]

Houston-based ConocoPhillips said recently its second quarter production in Permian Basin was 748,000 boed – an increase of 1.6 percent from 736,000 in first quarter. And it’s up 6 percent from 2023Q2. ConocoPhillips has about 800,000 net acres in Permian Basin, including 87,000 net acres in Delaware Basin and 58,000 unconventional net acres in Midland […]

Spring-based ExxonMobil reported record production in second quarter after its acquisition of Pioneer Natural Resources closed in May. Exxon said Aug. 2 it achieved production of 680,000 boed from its heritage footprint in Permian Basin in 2Q. The $63 billion Pioneer deal gave Exxon greater scale and drilling runway in Permian Basin. Darren Woods, chairman […]

Petroleum economist Karr Ingham of Amarillo has been named president of Texas Alliance of Energy Producers. Ingham had been interim president since 2023 after earlier serving for five years as executive vice president. The alliance said he will continue to serve as the organization’s economist and issue the Texas Petro Index and Texas Permian Basin […]

U.S. Energy Information Administration forecasts total crude oil production in Permian Basin will grow to 6.66 million barrels per day this month after 6.61 million b/d in June and 6.64 million b/d in July.  U.S. total crude oil production is forecast at 13.73 million b/d in August after 13.68 million b/d in June and 13.72 […]

Produced Water Society is conducting its ninth annual Permian Basin Summit this week in Midland.  The three-day event that began Monday addresses produced water issues faced by operators, water midstream companies and water services providers.  About 400 people are expected to attend to hear speakers that include state Sen. Kevin Sparks (R-Midland), member of Senate […]

Houston-based APA Corp. said recently it expects to increase U.S. oil production by 8 percent in third quarter as it grows production in Permian Basin.  John J. Christmann IV, CEO, said Aug. 1, “In the Permian Basin, we had outstanding second quarter oil production performance and are raising our outlook for the back half of […]