Dallas-based Matador Resources said Monday that San Mateo Midstream, Matador’s 51 percent-owned joint venture with Five Point Infrastructure, reached agreement to acquire operating subsidiaries of Cardinal Midstream Partners for $752 million cash. Cardinal’s midstream assets complement San Mateo’s existing natural gas gathering and processing system and provide San Mateo the ability to move natural gas […]
Swinging into Spring
ODESSA, TEXAS—The beautiful Odessa Country Club was the site on May 28 for the day-long golf event that has come to be known as the Permian Basin Petroleum Association “Spring Swing.” Fine weather greeted the full slate of teams. The format was a four-man scramble. If enthusiastic participation in golf tournaments can be construed as […]
Milton Friedman: Architect of Modern Free Market Economics
Our nation lost the man who was possibly its greatest economist of the last 100 years when Milton Friedman passed away 20 years ago. Some of us are old enough to remember his appearances on television in the 1980s, during the Reagan years, when, with rousing phrases, he championed free market policies and small government. […]
Kimbell Royalty Partners closes acquisition of assets in Delaware, Midland basins
Fort Worth-based Kimbell Royalty Partners closed the previously announced purchase of mineral and royalty interests held by Mesa Royalties across 16 counties in the Permian Basin for $145.9 million ($44 million cash). Kimbell estimates that for the next 12 months as of June 1 the assets will produce about 1,390 boed (including 754 b/d of […]
U.S. adds 10 rigs last week, biggest one-week gain in four years
Oil and gas drillers in Permian Basin, Texas and U.S. returned to activity last week as Baker Hughes reported a gain of 10 drilling rigs in the U.S. as of June 26. That’s a gain of 26 or 4.75 percent to 573 from 547 a year ago. It’s the largest one-week gain in U.S. in […]
Sigma Advanced Technologies launches mobile ozone water treatment system
Albuquerque-based Sigma Advanced Technologies recently launched its new next-generation mobile ozone water treatment containers. Sigma said the containers are engineered “to transform how industrial operators manage and reuse wastewater.” Sigma’s announcement added, “Designed for maximum flexibility and performance, these modular treatment units can process everything from low-flow industrial waste streams to high-volume waters reaching up […]
Keeping Things Real
It was James M. Barrie, the English author known as the creator of Peter Pan, who said that “Life is a long lesson in humility.” It seems that we either learn humility on our own, of our own volition, or, if we live long enough, we get it ground into us by life itself, whether […]
Chevron power plant in Reeves County mitigates impact on grid, water resources
Chevron said its new power generation plant in west Texas to be co-located with a Microsoft data center in Reeves County will benefit the state’s economy while also mitigating impacts to water resources and the electrical grid. Texas oil companies such as Chevron, Exxon Mobil and Diamondback are branching into electricity generation, “cashing in on […]
Plains All American increases 2026 growth capital spending for Permian, Canada
Houston-based Plains All American Pipeline is increasing its 2026 growth capital spending to $400 million to $450 million from $350 million. Maintenance capital is expected to remain at about $185 million. In its announcement June 15, Plains said, “The increased budget is underpinned by multiple growth projects across our Permian long-haul, Canadian gathering and Permian […]
Kinder Morgan’s GCX expansion project reaches service to ease Permian glut
Natural gas is moving through two new metered interconnects on Kinder Morgan’s Gulf Coast Express pipeline near Agua Dulce hub in south Texas. Natural Gas Intelligence said June 16 it’s “the clearest sign yet that the 570 million cfd expansion is starting up on schedule and easing a glutted Permian Basin.” The 497-mile GCX pipeline […]