Dallas-based Cardinal Midstream Partners said last week it plans to expand its Pecos River natural gas processing complex in Loving County in Permian Basin.  The expansion is scheduled for completion in early 2026.  It will add 220 million cubic feet per day of capacity and increase Cardinal’s total capacity to 360 million cfd (with flexibility […]

New Mexico reported a gain of 4 rigs in the past week in Baker Hughes’ latest weekly report of active drilling rigs, but Texas led major producing states that reported declines with a loss of 6 rigs.  As of Oct. 10, there were 100 rigs in New Mexico (up from 96 week ago and 99 […]

U.S. Energy Information Administration has increased its forecast for the nation’s crude oil production this year.  EIA said last week in its latest Short Term Energy Outlook that crude oil production was a record 13.6 million barrels per day in July and is forecast to be 13.53 million b/d for 2025 and 13.51 million b/d […]

Houston-based LandBridge said last week it agreed to purchase about 37,500 total acres in Loving, Reeves, Ward and Winkler counties in west Texas from 1918 Ranch & Royalty.  The assets include 22,000 fee surface acres, 3,500 surface acres held in a long-term agreement and 12,000 leasehold surface acres.  Closing is expected in 2025Q4. The transaction […]

U.S. Energy Information Administration said Texas consumed more energy in 2023 than any other state.  According to data in the latest State Energy Data System, total energy consumption in Texas was twice as much as in California, the second highest consuming state, and more than three times as much as in Florida, the third highest […]

The potential gas committee of the American Gas Association recently reported a 16 percent increase in domestic natural gas resources in the U.S. since its previous biannual report.  The 60th anniversary report revealed the largest reported value in its history.  The report said, “The increase shows an industry primed to fuel the economy of the […]

Houston-based Targa Resources announced plans last week for a new long-haul pipeline connecting the company’s operations in Permian Basin to its fractionation and storage complex in Mont Belvieu.  Speedway pipeline will be a 500-mile system (30 inches) to move up to 500,000 barrels per day of NGLs at a cost of $1.6 billion.  It will […]

Michael Lozano of Permian Basin Petroleum Association, Ed Longanecker of Texas Independent Producers and Royalty Owners Association, and Tulsi Oberbeck of Texas Oil and Gas Association are among 13 people named this week to a new state taskforce on petroleum theft.  The group was created during the recent session of the Texas legislature to study […]

Clay Gaspar, president and CEO of Devon Energy, said his company’s operations in New Mexico have faced electricity supply constraints and led Devon to develop “our own utilities.”  Speaking recently at a Barclays conference in New York, Gaspar said, “We’ll be looking and trying to understand our capabilities of building co-ops with peers to build […]

Counts of active drilling rigs in Permian Basin and Texas continue to decline, according to the weekly report of Oct. 3 from Baker Hughes.  Permian Basin reported 251 rigs (down 2 from 253 last week, down 53 or 17.4 percent from 304 a year ago), and Texas also declined 2 to 244 (down 35 or […]