Permian Basin, New Mexico and U.S. added drilling rigs again in the previous week, according to the Feb. 21 report by Baker Hughes, and Texas held steady with 397 active rigs. Permian Basin added 1 rig for a new total of 409 (473 a year ago), New Mexico added 2 rigs (113 previous week, 108 […]

Permian Basin is the only one of seven major regions in U.S. expected to increase in crude oil production in March, according to drilling productivity report of Feb. 18 by U.S. Energy Information Administration. Permian is forecast to add 39,000 barrels per day to 4.855 million (4.816 million b/d in February). Across the seven regions, […]

Midland-based Ring Energy is seeking permission to drill 10 horizontal oil wells on five leases in Yoakum County on what the Houston Chronicle called “a geological target that most companies ignore.” The wells will target the Platang field of the San Andres geological layer to a total depth of 9,000 feet.

Dallas-based Pioneer Natural Resources said Feb. 19 it expects to operate an average of 23-to-24 horizontal wells in Permian Basin in 2020 in its drilling, completions and facilities budget of $3.0 billion to $3.3 billion. That includes 5 rigs in its southern joint venture area. Pioneer expects to place 345-to-375 wells on production in 2020 […]

San Antonio-based EPIC Crude Holdings said Wednesday it has commissioned the 730-mile crude oil pipeline from its Crane terminal in the Permian Basin to the Port of Corpus Christi and started making crude oil deliveries on the 30-inch system. EPIC said that ends interim deliveries on the 24-inch EPIC Y-grade pipeline. Initial capacity is 600,000 […]

Houston Chronicle said last week more than five weeks have passed since an oil company has filed for a drilling permit for a new horizontal well in Barnett Shale with the Railroad Commission of Texas. Baker Hughes said in its latest rig count that there is one active drilling rig in the natural gas-rich geological […]

Norwegian energy research firm Rystad Energy said this week oil production in Texas is expected to increase each month this year, but the growth rate is expected to slow. Rystad said Tuesday that oil production from wells in Texas increased to an estimated 5.4 million barrels per day in December. The firm said hydraulic fracturing […]

Permian Basin, Texas and New Mexico added rigs in the past week in Baker Hughes’ count of active oil and gas drilling rigs. Permian Basin and New Mexico remain above their counts at the end of 2019. As of Feb. 14, Permian Basin had 408 rigs (405 previous week, 473 previous year, 405 to start […]

Dallas-based Hunt Oil recently filed for seven drilling permits with the Railroad Commission of Texas for horizontal wells in Glasscock County. Houston Chronicle said Hunt will target Spraberry at depths of 7,800 to 9,000 feet. Hunt Oil, a company founded in 1934 that drilled its first wells in east Texas, filed for 80 drilling permits […]

Occidental Petroleum reportedly is the first U.S. oil and gas company to endorse the World Bank’s “zero routine flaring by 2030” initiative to reduce greenhouse gas emissions and utilize this energy resource. Oxy president and CEO Vicki Hollub said, “Support for this important World Bank program is part of our company’s broader commitment to reduce […]