Federal Trade Commission on Thursday approved ExxonMobil’s $64.5 billion purchase of Pioneer Natural Resources, but FTC issued a consent agreement that prevents Pioneer founder and former CEO Scott Sheffield from serving on the Exxon board of directors or serving as an advisor based on allegations he attempted to collude with OPEC to raise oil prices.  […]

Texas Workforce Commission recently said employment in the upstream sector of the Texas oil and gas industry grew by 4,500 jobs in March.  It’s the largest single month of growth in upstream jobs since June 2011.  Since a low point in September 2020 during a global pandemic, the months of increase in upstream oil and […]

Midland-based ProPetro Holding Corp. said Monday it reached agreement with ExxonMobil to provide electric hydraulic fracturing services in the Permian Basin.  The three-year agreement includes deployment of two electric hydraulic fracturing fleets and wireline and pumpdown services in first half of 2024.  There is an option for a third fleet early next year. Sam Sledge, […]

Five leading oil and gas operators in Permian Basin have donated a total of $200,000 to the Panhandle Disaster Relief Fund of Amarillo Area Foundation to support residents impacted by the recent wildfires in the panhandle.  They are Chevron, ConocoPhillips, Diamondback Energy, Permian Resources and Pioneer Natural Resources.  Nick Olds of ConocoPhillips told the Midland […]

A series of at least 11 earthquakes occurred in far west Texas in the past week in Loving and Winkler counties of the Permian Basin.  Since April 24 there have been 11 quakes of at least 2.5 magnitude, including four of at least 3.0 magnitude. Justin Rubinstein of the U.S. Geological Society told the Midland […]

The count of active oil and gas drilling rigs declined last week in U.S., but Texas registered a small gain.  Houston-based Baker Hughes said as of April 26 there were 613 rigs in U.S. (down 6 in past week, down 142 in past year), 297 in Texas (up 1 in past week, down 80 in […]

Katy-based U.S. Silica said last week it will become a privately held company after its acquisition by investment firm Apollo Global Management.  The industrial minerals company is valued at $1.85 billion.  The 124-year-old company produces commercial silica used in the oil and gas sector and other industrial applications.  It operates 26 mines and processing facilities […]

Texas Tribune said it will sponsor a luncheon Wednesday, May 8, in Odessa with a theme of “West Texas: The State of Oil.” The Tribune said, “Oil and gas production in west Texas broke records last year. The Texas Oil and Gas Association reported that Texas supplied 42 percent of the nation’s oil in 2023 […]

U.S. Energy Information Administration said Tuesday consumption of natural gas in U.S. reached a record 89.1 billion cubic feet per day in 2023. Since 2018 U.S. natural gas consumption has increased by an average of four percent each year. Monthly natural gas consumption set records every month from March 2023 through November 2023. U.S. natural […]

After a record $192 billion in U.S. upstream consolidation last year, according to Enverus Intelligence Research, M&A activity in 2024Q1 appeared to be headed to another record with $51 billion in announced deals. But Enverus said it is “pumping the brakes on another record-setting year as deal activity slowed significantly in March, and Q2 appears […]