Houston investment startup Pickering Energy Partners said last month it is forming a joint venture with Midland’s Henry Resources to invest about $500 million in acquiring and developing acreage in Permian Basin. Henry Resources is a family firm focused on Permian Basin that sold its original company, Henry Petroleum, to Midland’s Concho Resources. The joint […]

Occidental Petroleum said Sept. 18 it will sell its stake in Houston-based Plains All American Pipeline. Oxy Holding Co. is selling 14.98 million common units of PAA for $21.46 per unit and expects to receive $321.4 million. Oxy also is selling its stake in Plains GP Holdings for a reported $330.8 million (15 million Class […]

Lea County, N.M., is the new leader in Permian Basin in count of active oil and gas drilling rigs as of Sept. 27 by Houston-based oilfield services firm Baker Hughes. Lea added 3 rigs in the past week for a total of 59 while Reeves County lost 2 rigs to trail with 55. Other leaders […]

“We want your crude,” Omar Garcia from the Port of Corpus Christi told members of the Permian Basin Petroleum Association last week. The port reached the milestone of one million barrels of crude oil exports per day this summer, Garcia said, and he forecast exports from the port will climb to between two and three […]

Oil production in seven major regions in U.S. is expected to grow next month by another 74,000 barrels per day – most of it from Permian Basin. In its drilling productivity report of Sept. 16, the U.S. Energy Information Administration said production is expected to grow to 8.843 million b/d in October from 8.769 million […]

Counts from Baker Hughes of active oil and gas drilling rigs declined for the sixth straight week in Permian Basin and seventh straight week in Texas as of Sept. 20. There are 417 rigs in Permian (419 previous week, 488 previous year) and 423 rigs in Texas (430 previous week, 531 previous year). The U.S. […]

Houston-based NextDecade and Canadian pipeline operator Enbridge said Sept. 18 they will develop the Rio Bravo pipeline and other pipelines in south Texas to transport natural gas to NextDecade’s Rio Grande LNG export terminal in Brownsville. Rio Bravo is designed to transport 4.5 billion cubic per day of natural gas from Agua Dulce hub near […]

U.S. shale production will peak at about 14.5 million barrels per day around 2030, according to a forecast by Rystad Energy, with production from the Permian Basin as the dominant source of U.S. oil supply. Rystad said U.S. light, tight oil represented less than one percent of world oil supply nine years ago, but it […]

Dallas-based Matador Resources said Monday it received six drilling permits from U.S. Bureau of Land Management for its western Antelope Ridge asset area in Lea County. Drilling operations have started on Matador’s Rodney Robinson tract of 1,200 gross and net acres, one of the tracts the company acquired in BLM’s New Mexico lease sale in […]

Houston-based pipeline operator Kinder Morgan said this week full commercial service started on Gulf Coast Express pipeline from Waha hub near Coyanosa in west Texas to Agua Dulce near Corpus Christi. Fully subscribed under long-term contracts, GCX provides capacity of about 2.0 billion cubic feet per day for natural gas to Gulf Coast markets to […]