As Double Eagle IV brings online new wells and ramps up production in Permian Basin, Hart Energy recently asked: Is the Fort Worth-based company the most coveted private equity-backed exploration and production company in the Permian Basin? Double Eagle IV is led by co-CEOs Cody Campbell and John Sellers, who in 2021 guided Double Eagle […]

Baker Hughes’ count of active drilling rigs in U.S. fell again as of June 28 for the fourth straight week. And the count fell in June for the fourth straight month, and the count fell for the sixth quarter in a row for the first time since 2020. The U.S. count was 581 – down […]

Newly public Delaware Basin surface owner LandBridge said last week development of data centers will be an important part of the company’s future. The Houston-based company, which owns about 220,000 surface acres in Texas and New Mexico in the core of the Delaware Basin, manages its land and resources to support and encourage oil and […]

U.S. Energy Information Administration said this week U.S. energy production exceeded consumption by a record amount last year.  In 2023 energy production in the U.S. rose four percent to a record of nearly 103 quadrillion BTUs.  At the same time, energy consumption in the U.S. fell one percent to 94 quads.  Production exceeded consumption by […]

According to a recent report from Enverus, operators in Barnett Shale in north Texas pulled back on completion activity in 2023.  Henry Hub prices averaged 62 percent less than the previous year at $2.57 per million BTUs.  U.S. Energy Information Administration said, “Record high natural gas production, flat consumption and rising natural gas inventories contributed […]

Two companies that operate primarily in Permian Basin are ranked among the top 10 private operators in the lower 48 states, according to a recent report from Enverus.  Continental Resources (Rockies) was the No. 1 private operator in 2023 with 690,299 boed, Mewbourne Oil (Permian) was fourth with 408,754 boed, and Endeavor Energy (Permian) was […]

Fort Worth-based U.S. Energy Development Corp. said this week it is expanding its operations in the Permian Basin.  “Building on a series of recent successes,” U.S. Energy said Tuesday, “the company is poised for significant growth and development in one of the most productive oil and gas regions.”  The continued investment includes the recent completion […]

Officials from U.S. Environmental Protection Agency were in Fort Worth last week to present a grant of $6.2 million to Fort Worth Independent School District to purchase 15 electric school buses.  The grant in the Clean School Bus program to Fort Worth ISD is one of 18 grants in Texas.  “Exhaust from these buses can […]

Officials from the Santa Fe office of U.S. Bureau of Land Management said last week BLM received $34,414,251 in high bids from its most recent lease sale in New Mexico and Kansas.  BLM offered 19 parcels covering 3,128 acres in the two states; 451 bids were received for 14 parcels covering 2,768 acres – 88.5 […]

It was another week of falling drilling rig counts in Permian Basin, Texas and U.S., according to Baker Hughes in its weekly report of June 21.  There were 308 rigs in Permian Basin (down 1 in past week, down 33 from 341 a year ago), 282 in Texas (down 3 in past week, down 63 […]