Midland County replaced Lea County, N.M., as Permian Basin’s No. 2 county in the April 24 rig count from Baker Hughes. Midland’s count was unchanged from the previous week with 31 rigs while Lea idled 9 rigs to fall to 29. Eddy County, N.M., remains the leader with 41 rigs. Other basin rig counts include […]
Production of oil, gas to decline in each of seven major regions in May
U.S. Department of Energy forecasts declining production for both crude oil and natural gas in each of the seven major regions in May as supply continues to outpace demand and storage capacity amid the global coronavirus pandemic. Oil production is expected to decline by 183,000 barrels per day in May compared to April to 8.526 […]
More permits filed at RRC for wells that target only natural gas
Twenty-five companies filed 69 drilling permits the week of April 15-21 with Railroad Commission of Texas, but Houston Chronicle said that included a record 12 percent for wells that produce only natural gas. Sabine Oil & Gas and Trinity Operating plan to drill six gas wells in Haynesville, and French oil major Total and JBL […]
Oklahoma agency approves emergency order, Christian backs “free market”
Oklahoma Corporation Commission approved an emergency order April 22 to allow crude operators to shut in money-losing wells. According to Oil & Gas Journal, the regulatory agency said operators and producers “may shut in or curtail production from wells where they determine such action is necessary and warranted to prevent economic waste” for 90 days […]
Moda Midstream adds storage capacity for oil from Permian, Eagle Ford
Houston-based Moda Midstream said this week it activated the final 495,000-barrel storage tank in its 10 million-barrel crude oil expansions at Moda Ingleside Energy Center and Moda Taft terminal. The completion of these expansions brings total capacity at MIEC and Taft to about 12 million barrels. President and CEO Bo McCall called the addition of […]
Marathon Petroleum idles refinery in Gallup, N.M.
Findlay, Ohio-based Marathon Petroleum said it idled its refinery in Gallup, N.M., April 15. Bloomberg said it’s the first U.S. facility to close because of the coronavirus pandemic. Bloomberg added, “It’s not likely to be the last.” Jamal Kheiry of Marathon said the refinery will maintain regular staffing levels while it is down and will […]
Texas Petro Index declines for 12th straight month to 188.5 in February
Texas Petro Index by petroleum economist Karr Ingham declined in February for the 12th consecutive month to 188.5 from 191.9 a month ago in January 2020 and 213.2 a year ago in February 2019 (down 11.8 percent in past year). The index is based on a comprehensive set of economic indicators in the industry (base […]
Enterprise to offer northbound crude oil service on Seaway pipeline
Houston-based pipeline operator Enterprise Products Partners will offer two-way shipping starting May 1 on its crude oil pipeline connecting Texas coast and storage terminals in Cushing, Oklahoma. Houston Chronicle said the move “may give oil companies more storage options.” Seaway pipeline was designed to move crude from Oklahoma to markets near Houston, but in a […]
Pin Oak Corpus Christi loads first vessel at new oil dock
Pin Oak Corpus Christi received the first vessel April 15 at its newly commissioned oil dock at Port of Corpus Christi. The new dock can accommodate fully-laden bulk liquid tankers up to Suez-max class with loading rates of more than 40,000 barrels per hour. Construction of the new dock was a joint effort of Port […]
State Land Office in New Mexico to allow pause in energy production
State Land Office in New Mexico said last week it will allow crude oil and natural gas producers to temporarily stop production on state lands without penalty as the coronavirus pandemic and global price conflict continue. Ryan Flynn, executive director of New Mexico Oil and Gas Association, said, “The emergency rule to allow lessees to […]
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