Houston-based Crescent Energy said Monday it will acquire Tulsa-based Vital Energy in an all-stock deal valued at $3.1 billion (including debt) to add the Permian Basin to its portfolio and create a top 10 independent.  Vital is an independent energy company focused on acquisition, exploration and development of oil and gas properties in Permian Basin.  […]

U.S. Energy Information Administration said recently the nation exported about 30 percent of its domestic primary energy production.  Of the record 103 quadrillion British thermal units (quads) of total primary energy production in the U.S. in 2024, a record 31 quads went to other countries.  The percentage has grown considerably in recent decades, according to […]

Texas Workforce Commission said last week that upstream oil and natural gas employment fell by 1,400 jobs in July compared to June.  (June’s loss was revised to 1,500 from previously estimated 2,700.)  Commission said Texas led with 308,918 jobs followed by Louisiana with 52,934, Oklahoma with 48,243, Colorado with 25,738 and New Mexico with 23,709 […]

Midland-based Permian Resources said recently it has increased midpoint of full year production guidance by about 3 percent to 385,000 boed and 178,500 b/d of crude oil.  The increase is driven by “continued strong well results and the recently closed APA bolt-on acquisition” (13,000 acres in northern Delaware Basin in June).  The company also is […]

Houston-based Coterra Energy said recently it reached a natural gas sales agreement with Basin Ranch Energy Center, a unit of Competitive Power Ventures Group’s in Ward County.  The center is a proposed 1,350 megawatt combined cycle power plant being designed with an option to include carbon capture.  The agreement to sell 50 million cfd for […]

Permian Basin and Texas continued their declines in count of active drilling rigs.  Baker Hughes said as of Aug. 15 there were 255 rigs in Permian (down 1 in the past week, down 48 or 16 percent from 303 a year ago) and 242 rigs in Texas (down 1 in past week, down 31 or […]

Houston-based Targa Resources recently announced record Permian Basin and NGL transportation volumes during the second quarter.  Targa also announced a 43-mile extension of its Bull Run natural gas pipeline to enhance natural gas connectivity from Targa’s Delaware system to Waha to begin operations in 2027Q2. Targa expects early completion of several projects, including Pembrook II […]

Tulsa-based ONEOK said recently it will add to its natural gas processing capacity in Permian Basin with construction of a new plant in Delaware Basin and relocation of an existing plant from north Texas to the Midland Basin.  ONEOK is relocating its Shadowfax plant (capacity 150 million cfd) to west Texas by 2026Q1. The new […]

A federal court judge in Texas issued a ruling this week to end Endangered Species Act protections for the lesser prairie chicken and overturn a U.S. Fish and Wildlife Service rule to safeguard the bird.  It resides in the major oil- and gas-producing states of Texas, New Mexico, Oklahoma, Colorado and Kansas.  Judge David Counts […]

Houston-based LandBridge said last week it executed a 10-year surface use and pore space reservation agreement with Devon Energy to support Devon’s operations in the core of Delaware Basin in New Mexico.  LandBridge will provide Devon with 300,000 b/d of pore space capacity on its East Stateline Ranch and Speed Ranch surface acreage.  The pore […]