Counts of active drilling rigs fell in Texas, New Mexico and U.S. in Baker Hughes’ weekly report of April 10 to lose gains of the previous week. Baker Hughes said there were 232 rigs in Texas (down 1 in past week, down 42 or 15.33 percent from 274 in the past year), 101 in New […]
EIA says declining rig counts could lead to drop in production in 2027
U.S. Energy Information Administration said continued decline in rig counts could lead to a drop in production in 2027 of about 2 percent. In the March issue of its short-term energy outlook, EIA said Texas produced nearly half (6.6 million barrels a day) of the nation’s 13.6 million barrels a day of crude oil in […]
EOG Resources divests assets in Dawson County to Laguna Resources
Midland-based EOG Resources exited its Dean sandstone and Spraberry positions in northern Midland Basin with a sale of assets to Houston-based Laguna Resources for $165 million. The transaction was completed in February for the assets in Dawson County in the Permian Basin of west Texas. The deal included such wells as Bluebonnet C Unit. There […]
Strait Talk on WTI Prices
In the first half of April, WTI posted two consecutive sessions of decline, pulling back sharply from the then-recent peak of around $117 per barrel. Notably, in the latest of those two sessions, oil prices briefly plunged to near $91 before rebounding quickly to around $98 on April 8 in the Asian session. Such wide […]
WATER IN ENERGY 2026: A Free-Flowing Forum
It should surprise no one that this year’s UTPB Energy in Water Conference was the most well attended yet. Brian Ward of APATEQ observes, “There is no comparison to the expert discussions, the tremendous networking opportunities, and the hospitality is second-to-none.” Indeed. Robust panels of deeply committed and insightful professionals discussed the entire oil and […]
‘Powerhouse’ Permian accounts for 48 percent of record U.S. oil output in 2025
U.S. Energy Information Administration said recently that Permian Basin provided 48 percent of the nation’s record total of crude oil production in 2025. In the March edition of its short-term energy outlook, EIA said U.S. oil production increased by 3 percent or 350,000 barrels to a record 13.6 million barrels per day last year compared […]
Summit Midstream to expand Double E pipeline capacity by 50 percent
Houston-based Summit Midstream is expanding its Double E natural gas pipeline in Permian Basin with new long-term transportation agreements and planned capacity increase of up to 50 percent. A mainline compression project will increase capacity from 1.6 billion cubic feet per day to 2.4 Bcfd by yearend 2028. Summit Midstream also continues to expand the […]
New Height Energy adds wells in Midland Basin, plans ‘future acquisitions’
Houston-based New Height Energy said last week it acquired about 500 producing oil and gas wells from an undisclosed seller in Midland Basin with net production of about 4,000 barrels of oil equivalent per day. The privately-held company said it also secured equity commitments from current owners and a consortium of family offices led by […]
Interior department merges units into Marine Minerals Administration
U.S. Department of the Interior said Friday it is merging the Bureau of Ocean Energy Management and Bureau of Safety and Environmental Enforcement into a single unit to be called Marine Minerals Administration. The move was made “to stream offshore oil and natural gas leasing, permitting, inspections and oversight.”
Rig counts increase to 242 in Permian Basin, 233 in Texas, 548 in U.S.
Rig counts increased in Permian Basin, Texas, New Mexico and U.S. in the past week, according to the weekly report of April 3 by Baker Hughes. U.S. count was up 5 from the previous week to 548 rigs (down 42 or 7.12 percent from 590 a year ago). U.S. reported 3 additional gas-directed rigs and […]