Officials at last week’s meeting of New Mexico’s Legislative Finance Committee in Farmington said the state could see $924 million in “new money” in the next fiscal year because of rising prices of oil caused by the U.S.-Israeli war in Iran. According to KRQE-TV in Albuquerque, Wayne Propst, secretary of the Department of Finance and […]

Oklahoma City-based Riley Permian announced an increase of 30 percent to its fullyear 2026 oil production guidance. Bobby Riley, chairman and CEO, said in the company’s Q2 report that the company is “delivering oil production near the high end of guidance and building momentum for the quarters ahead.” Production in Q2 was 34,300 boed with […]

Tulsa-based ONEOK said Sunday it will acquire Brazos Midstream’s natural gas gathering and processing assets in Midland Basin for $4.425 billion cash. The platform is supported by 600,000 dedicated acres and 14 active drilling rigs from leading producers such as ExxonMobil, Diamondback Energy and Double Eagle. When Brazos completes Cassidy II processing plant in 2027Q3, […]

Houston-based Targa Resources last week announced three new natural gas processing plants in the Delaware Basin.  Wrangler, Ranger and Ranger II plants will add total capacity of about 825 million cubic feet per day and begin operating in first half of 2028.  Targa also said Aug. 17 it will construct a new 70-mile natural gas […]

Texas Independent Producers and Royalty Owners Association said last week employment in the state’s upstream sector declined by 1,200 jobs in July for the second straight month.  There was a decline of 300 jobs in oil and gas extraction to 62,800 and a decline of 900 service jobs to 133,000.  TIPRO said employment ended July […]

Gainesville-based Select Water Solutions said last week it contracted with a leading public operator for expanded comprehensive water management in Select’s northern Delaware Basin network.  The agreement includes recycling, disposal, and pipeline gathering and distribution.  Select will construct an additional 100 miles of pipelines, 3 million barrels of storage capacity, and 60,000 b/d of additional […]

U.S. Energy Information Administration said last week operators in Permian Basin “are getting more oil and gas out of the ground by drilling longer horizontal wells.”  And EIA said operators are increasingly drilling so-called “super lateral wells” that exceed 15,000 feet.  In the Permian, one of the world’s most prolific unconventional oil- and gas-producing regions, […]

Oklahoma City-based Continental Resources said last week it will acquire FireBird Energy II, which holds about 54,000 net acres in Midland Basin.  The deal adds oil-weighted production and development inventory adjacent to Continental’s existing operations and creates opportunities for efficiencies and long-term development planning. Doug Lawler, president and CEO, said Aug. 20 the assets are […]

Counts of drilling rigs in Permian Basin and Texas increased for the fourth straight week, according to the report of Aug. 21 from Baker Hughes.  Permian Basin reported 267 rigs – up 2 in past week and up 12 or 4.71 percent from 255 a year ago.  And Texas reported 281 rigs – up 4 […]