For the second straight week, the count of active oil and gas rigs remained below 1,000 in U.S. and below 500 in Texas, according to Baker Hughes. As of May 3, there were 990 rigs in U.S. (991 a week ago, 1,032 a year ago) and 484 in Texas (491 a week ago, 515 a […]
Pioneer divests Eagle Ford assets to become pure-play Permian company
Irving-based Pioneer Natural Resources said in its first-quarter earnings report May 6 that it closed on sale of 59,000 net acres and remaining assets in Eagle Ford Shale to Houston startup Ensign Natural Resources to become a pure-play Permian Basin company. The assets are located primarily in Bee, DeWitt, Karnes and Live Oak counties and […]
Magellan Midstream to construct terminal in Midland
Tulsa-based Magellan Midstream Partners said in its first-quarter earnings report May 1 that it will construct a $30 million refined products storage and distribution terminal in Midland. Construction is expected to begin immediately, and operations are expected to begin in mid-2020. The new terminal will connect to the company’s refined products pipeline system that transports […]
Oxy to acquire Anadarko after Chevron declines to submit new bid
Chevron said Thursday it will not submit a new bid for The Woodlands-based Anadarko Petroleum, allowing Occidental Petroleum to acquire Anadarko’s prized assets in Permian Basin and remain the Permian’s top producer for the foreseeable future. The decision by San Ramon, Calif.-based Chevron ends a takeover battle after Anadarko initially agreed to be purchased by […]
Flaring of byproduct natural gas increases 85 percent in 2018
Bloomberg reported that the Permian Basin produced so much natural gas at the end of last year that producers were flaring more than enough of the fuel to satisfy residential demand across the state. Flaring, a common practice by drillers, burns gas that can’t be easily or efficiently captured, stored or transported to market. Bloomberg […]
Natural gas prices at Waha hub near Coyanosa fall to $0.00
Regional producers told the Midland Reporter Telegram that natural gas prices at the Waha hub near Coyanosa have fallen to as low as $0.00. Bill Graham of Incline Energy told the Reporter Telegram last month the Waha plant “has so much gas available that it outruns their delivery capacity. With the supply outrunning their demand, […]
Clinic opens in Carlsbad for employees of Conoco, Marathon, XTO Energy
A medical clinic opened in Carlsbad last month for employees of three of the largest oil and gas operators in southeastern New Mexico. ConocoPhillips, Marathon Oil and XTO Energy employ thousands of people in Eddy County, and they are now served by a clinic operated by XStremeMD, a 13-year-old company based in Lafayette, La. XStremeMD […]
Global firm De Nora acquires water service company Neptune Solutions
De Nora, global provider of electrochemical technologies and water treatment technologies, said it has acquired a majority interest in water service company Neptune Solutions to form De Nora Neptune, which is now the service unit of De Nora. Fort Stockton-based Neptune specializes in what De Nora calls “on the fly” water treatment for hydraulic fracturing […]
Rig count falls 9 in Texas; U.S. count below 1,000 for first time in 14 months
Texas again led a decline in oil and gas drilling as the nation’s count of active rigs dropped below 1,000 for the first time in more than a year. According to Baker Hughes, as of April 26, Texas lost 9 rigs in the past week to 491, and the Permian Basin count declined 3 to […]
86th Texas Legislature: The Final Stretch
During the week of April 14, the rumor around the Texas Capitol went something like this: If your bill does not advance out of committee within the next five days, chances are it will die there. However, the rumor extended into the following week, and committee hearings proceeded with hundreds of witnesses making their way […]
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