Houston-based APA Corp. said last week its recent agreements to divest non-core assets in Permian Basin and Eagle Ford closed earlier than expected and for less than the $700 million expected.  Closing had been expected in third quarter for 24,000 net royalty acres in several counties in Midland Basin (2,000 boed net in 1Q) and […]

WhiteWater, Austin-based infrastructure company and operator of Whistler pipeline, said last week the ADCC pipeline started commercial service July 1.  It can provide about 1.7 billion cubic feet per day of natural gas to Cheniere’s Corpus Christi liquefaction facility from markets on Whistler’s Agua Dulce header in south Texas.  Receipt points in Agua Dulce provide […]

Houston-based 1PointFive, carbon capture, utilization and sequestration company, said last week it reached agreement with Microsoft to sell 500,000 metric tons of carbon dioxide removal credits over six years to support Microsoft’s carbon removal strategy.  1PointFive said July 9 it’s the largest single purchase of CDR credits enabled by direct air capture and “highlights the […]

Data from U.S. Bureau of Labor Statistics and Energy Workforce and Technology Council last week show continued improvement in employment growth in the oil and gas industry.  The energy services sector now supports 647,636 jobs across the nation, and for the first time in 2024 the employment growth outpaced growth in 2023 (by about 450 […]

Permian Basin’s streak of weeks without an increase in count of active drilling rigs has reached a dozen.  Baker Hughes said in its weekly report of July 12 that Permian reported 305 rigs for the third consecutive week (down 32 from 337 a year ago).  Permian last reported an increase April 19 (up 2 to […]

Houston-based private equity firms Post Oak Energy Capital and Genesis Park said last week they sold their interests in Layne Water Midstream in all-cash transactions.  Post Oak and Genesis Park said July 10 they worked closely with Layne management to grow its customer base and footprint in Permian Basin after investing in Layne in 2019.  […]

Houston-based Weatherford International said recently it has an agreement with Honeywell to jointly deliver an advanced emissions management solution.  The integrated system will facilitate immediate access to essential data, empower decision-makers to act swiftly to mitigate risks, and enhance operational efficiency to achieve decarbonization targets. The agreement leverages Weatherford’s CygNet SCADA platform, the energy industry’s […]

Midland-based Ares Energy said completions are beginning in July for its Pradera Fuego project in Ector County.  In January Ares launched a 4-5 well drilling program targeting the Mississippian interval in Barnett Shale.  The program has since expanded to seven wells.  Ares said the deep wells are estimated at 1,000 b/d of initial production with […]

Addison-based King Operating Corp. said recently it added two developments in Permian Basin.  King’s partnership assets include the ConocoPhillips project, a three-well package of wells completed in first quarter in Delaware Basin with 16 percent interest.  The latest addition is Phantom Hill project in eastern shelf of Permian, another three-well package with 45 percent interest […]

Houston-based Pinon Midstream said recently it received approval from U.S. Environmental Protection Agency for its monitoring, reporting and verification plan for carbon dioxide sequestration at its two acid gas injection wells in Delaware Basin.  The two AGI wells are located at Dark Horse gas treatment plant in Lea County, the largest AGI system currently permitted […]