Fort Worth-based Kimbell Royalty Partners said last week it agreed to acquire mineral and royalty interests from a private seller in the Mabee Ranch in Midland Basin for $231 million.  The assets are in Midland (63 percent) and Andrews (37 percent) counties in west Texas.  As of Oct. 1, 2024, production was 1,842 boed (1,125 […]

Houston-based Plains All American Pipeline and Plains GP Holdings said last week they made three bolt-on acquisitions for a total of $670 million, including assets from Medallion Midstream in Delaware Basin.  Plains Oryx Permian Basin acquired Medallion’s crude oil gathering business from The Energy and Minerals Group for $160 million. Willie Chiang, chairman and CEO […]

According to a report this week from Enverus, ExxonMobil remains the leading operator of oil and gas drilling rigs in U.S. and Permian Basin.  As of Jan. 3, the latest weekly average in U.S. for ExxonMobil was 36.0 rigs followed by ConocoPhillips at 34.6, Occidental with 30.7, Mewbourne Oil with 25.1, EOG Resources with 23.3, […]

Texas Oil and Gas Association said Tuesday the state’s industry paid a record $27.3 billion in state and local taxes and state royalties in fiscal year 2024.  That’s about $1 billion above the previous record.  TxOGA president Todd Staples said, “Texas oil and natural gas make an outsized and unmatched contribution to the financial might […]

Two Houston-based companies, Halliburton Energy Services and Coterra Energy, said this week they launched autonomous hydraulic fracturing technology with the Octiv Auto Frac service, part of the Zeus platform.  “This technology automates stage delivery execution with the push of a button,” Halliburton said.  “Coterra is the first operator to fully automate and control their hydraulic […]

Houston-based Phillips 66 said this week it agreed to purchase EPIC Y-Grade GP and EPIC Y-Grade LP, which own subsidiaries and long-haul natural gas liquids pipelines, fractionation facilities and distribution systems, for $2.2 billion.  EPIC NGL consists of two fractionators (170 million b/d) near Corpus Christi, about 350 miles of distribution pipelines, and NGL trunkline […]

Texas added a drilling rig to start the new year while rig counts for Permian Basin, New Mexico and U.S. remain unchanged last week.  In Baker Hughes’ weekly report of Jan. 3, Texas added 1 rig last week to reach 285 (down 23 or 7 percent from 308 a year ago).  Also, there were 304 […]

Employment in the upstream oil and gas industry in Texas showed a decline in November following five consecutive months of growth, according to data from U.S. Bureau of Labor Statistics.  Austin-based Texas Independent Producers and Royalty Owners Association said direct upstream employment in Texas for November totaled 194,400.  That’s a decrease of 1,500 jobs from […]

Spring, Texas-based ExxonMobil said recently it drilled and completed its 1,000th horizontal well in the New Mexico portion of the Delaware Basin since 2017.  Its recent acquisition of Pioneer Natural Resources more than doubled the company’s Permian footprint and created what Exxon called “an industry-leading U.S. unconventional portfolio.” Scott Buechler, production manager for Exxon’s Delaware […]