The difference between the U.S. and other major producers of crude oil widened in 2025, according to International Energy Statistics database and U.S. Energy Information Administration analysis. EIA said July 9 that Russian output last year was mostly unchanged (9.9 million b/d), and Saudi Arabia reported modest growth (9.6 million b/d) to trail U.S. (13.6 […]
Drilling rig counts in Texas, U.S. continue to grow; Permian reports decline
Permian Basin reported a decline in its count of active drilling rigs last week, but Texas and U.S. continued to add rigs. Baker Hughes in its weekly report of July 10 said there were 256 rigs in Permian Basin – down 5 in the past week and down 9 in the past year. Also, there […]
U.S. remains leader in oil production; Permian accounts for 48 percent of total
U.S. remained the world’s largest crude oil producer in 2025, according to the International Energy Statistics database. That extends a streak that started in 2018 when the U.S. overtook Russia to become the world’s leading producer. Crude oil production in the U.S., including lease condensate, averaged a record 13.6 million barrels per day in 2025 […]
U.S. total petroleum exports reached record in April as demand increases
U.S. petroleum exports reached a record level in April as disruptions to international crude oil and refined product flows through the Strait of Hormuz increased global demand for U.S. exports. U.S. Energy Information Administration said Wednesday exports increased to 13.6 million barrels per day in April – an increase of 15 percent over the previous […]
Federal office completes review of strategic petroleum reserve in Texas, Louisiana
U.S. Government Accountability Office recently published its review of management of the nation’s strategic petroleum reserve as requested by the Department of Energy. GAO concluded that Congress hasn’t specified priorities or identified a target size for the SPR, and the department hasn’t completed a long-term plan to inform operational and investment decisions. The GAO report […]
I Squared Capital acquires Permian waste management assets of Milestone
Miami-based I Squared Capital, independent global infrastructure investor, said this week it agreed to acquire Milestone Environmental from SK Capital Partners. Milestone, independent environmental infrastructure company, provides waste management solutions for the industrial and energy sectors, including Delaware and Midland basins in west Texas. Terms of the transaction were not announced. Houston-based Milestone owns and […]
Permian People: July 2026
Hirings, promotions, and other personnel matters in the nation’s biggest oil patch—or in companies who do business in the Permian Basin. The Cynthia and George Mitchell Foundation (CGMF) announced May 19 that Marilu Hastings, Executive Vice President and Director of the Mitchell Innovation Lab, is launching an independent advisory firm, Meridian House, departing the foundation […]
Permian’s Mewbourne Oil ranks second among Texas top 10 private producers
Permian Basin again provided only one of the top 10 private oil and gas producers in lower 48, according to Enverus Intelligence Research. In a report released last week, Enverus said the top five in the 2025 list remained the same as the previous year. Rockies operator Continental Resources again is first followed by Mewbourne […]
Rig counts continue to grow, U.S. adds 18 rigs in 3 weeks, Permian up to 261
Permian Basin, Texas and U.S. continued to add drilling rigs, according to the weekly report of July 2 by Baker Hughes. U.S. added rigs for the third straight week to move to 580 rigs from 562 in the June 12 report. U.S. is up 7 in the past week from 573 and 41 in the […]
Vistra Corp. will build new natural gas-powered generation plant in Ward County
State of Texas recently awarded its eighth Texas Energy Fund loan for 860 megawatts of new, reliable power in Ward County in Permian Basin of west Texas. That’s enough electricity to power approximately 215,000 Texas homes. Irving-based Vistra Corp. will build the project, which is comprised of two new natural gas units at its Permian […]