Plano-based United Energy LNG and Power LNG last week announced an agreement to create a scalable small-scale LNG platform to serve industrial, power and transport markets across North America. The combined entity, United Energy LNG, oversees a portfolio of three LNG production sites in advanced stages of development, including its first project site in Houston. […]
EIA report: Imports of energy to U.S. fall to 40-year low in 2024
U.S. imported only 17 percent of its domestic energy supply in 2024 – half of the record share in 2006 and the lowest share since 1985. U.S. Energy Information Administration said July 7 in its Monthly Energy Review, “The decline in imports’ share of supply in the previous two decades is attributable to both an […]
Permian rig count unchanged last week to halt decline, but Midland down to 17
The count of active drilling rigs in Permian Basin ended 10 weeks of decline, but the U.S. count fell for the 11th consecutive week. Baker Hughes said as of July 11 there were 265 rigs in Permian Basin (unchanged in the past week, down 40 rigs or 13 percent from 305 a year ago) and […]
Count It a Successful Session
Click here to listen to the Audio verison of this story! Last year, the Permian Basin Petroleum Association created a set of recommended practices to combat oilfield crime, incorporating physical, cyber, and operational security measures. The Association took the initiative to the next level, citing the prevention of industry theft as a PBPA legislative […]
ExxonMobil leads U.S., Permian in rig count; Permian reports decline in permits
ExxonMobil is the only one of the top seven U.S. operators to report an increase in active drilling rigs in the past year, according to Enverus’ latest Drill Down Report. ExxonMobil is the leading operator in both U.S. and Permian Basin. In the U.S., ExxonMobil reported 39 working rigs as of July 4 (weekly average […]
EIA expects decline in U.S. production this year from previous forecast
This week U.S. Energy Information Administration reduced its forecast for crude oil production this year. In its Short-Term Energy Outlook released Tuesday, EIA said, “Declining oil prices have contributed to U.S. producers slowing their drilling and completion activity this year. As a result, we forecast U.S. crude oil production will decline from an all-time high […]
Mach Natural Resources acquires Permian assets to mark entry into basin
Oklahoma City-based Mach Natural Resources said Thursday it has acquired oil and gas assets totaling about $1.3 billion to mark entry into Permian Basin and San Juan Basin to complement its existing operations in Mid Continent. The acquisitions from Sabinal Energy and entities owning oil and gas assets managed by IKAV Energy will nearly double […]
Oil, gas operators adopt dark sky friendly lighting to help reduce light pollution
National Public Radio reported last week visitors come to west Texas to experience a vanishing natural resource: “some of the darkest nighttime skies in the world.” Reporting from McDonald Observatory and Davis Mountains State Park, NPR said July 1 astronomers and conservationists in the region have partnered with cities and counties on lighting ordinances to […]
Lawsuits against producers for inflating prices combined in federal court in NM
More than two dozen class-action lawsuits have been filed in New Mexico’s U.S. District Court alleging that some of the nation’s largest oil producers have colluded in recent years to artificially increase the price of crude oil. The Santa Fe New Mexican reported last week some of the lawsuits have been combined and allege “the […]
U.S., Permian Basin drilling rig counts fall for tenth straight week
Counts of active oil and gas drilling rigs in U.S. and Permian Basin continue to fall, according to the latest report from Baker Hughes. As of July 3, there were 539 rigs in U.S. (down 8 from 547 last week and down 46 or 7.9 percent from 585 a year ago) and 265 rigs in […]