Denver-based Ovintiv said its production in Permian Basin in first quarter averaged 221,000 boed (79 percent liquids) with 34 net wells turned in line.  This year the company plans to invest $1.325 billion to $1.375 billion in Permian to run about 5 rigs and bring on an expected 125 to 135 net wells. Oil and […]

Oklahoma City-based Devon Energy was the leading bidder in Wednesday’s quarterly sale of federal oil and gas leases in Texas and New Mexico by U.S. Bureau of Land Management.  BLM offered 74 parcels of land covering 33,529 acres to generate $4,007,944,870.  Devon acquired 24 parcels covering 16,297 acres in Eddy and Lea counties for $2.6 […]

U.S. Energy Information Administration last week revised its earlier forecasts to reflect a bigger, longer disruption to global oil supplies than previously expected because of the U.S.-Israeli war in Iran.  Reuters reported May 12 the forecast highlights “the uncertainty that has roiled broader energy markets since the conflict began three months ago.” EIA said disruptions […]

Texas Workforce Commission said employment in the state’s upstream oil and gas employment increased by 1,800 jobs in March compared with the previous month.  Total upstream employment was 193,300 jobs in March, which is down by 7,100 jobs or 3.5 percent from March 2025. Todd Staples, president of Texas Oil & Gas Association, said May […]

Permian operators in Texas and New Mexico contributed to increases in counts of active drilling rigs in U.S.  Baker Hughes said in its weekly report of May 15 there were 551 rigs in U.S. – up 3 in the past week but down 25 or 4.34 percent from 576 a year ago. Texas led major […]

Midland’s Permian Resources said its total production in first quarter was up more than 10 percent over 2025Q1, and officers expect another slight increase in 2Q.  Production in Q1 was 413,000 boed (192,300 b/d of oil).  The company doubled its workover rig count during Q1, according to co-CEO James Walter.  After replacing hardware on fewer […]

Senator Charles Perry, R-Lubbock, received the Bruno Hanson Environmental Excellence Award April 30 at the Permian Basin Environmental Regulatory Seminar.  The award is presented each year by the Petroleum Professional Development Center at Midland College and the Permian Basin Petroleum Association. Hanson was a geologist and independent oilman in Midland and a pioneer of environmental […]

Dallas-based Energy Transfer said last week its volumes continued to grow in first quarter compared to last year.  And in Q1 the company placed into service its Gateway NGL pipeline debottlenecking project to provide increased deliveries from Delaware Basin in west Texas to the company’s NGL fractionation complex at Mont Belvieu. Energy Transfer said in […]

Houston-based Chevron said recently U.S. production in first quarter exceeded 2025Q1 after the recent acquisition of Hess Corp. and growth in Permian Basin and Gulf of Mexico.  Net oil-equivalent production during Q1 was up 388,000 boed to 2.024 million boed.  Production in 2025Q4 was 2.055 million boed. Capex in Q1 was higher than last year […]

Houston-based APA Corp. said last week continued efficiency gains and improved uptime in Permian Basin helped its U.S. oil production exceed guidance in first quarter.  U.S. oil production averaged 124,000 barrels per day.  APA raised fullyear U.S. oil production guidance to 122,000 b/d.  Permian capex for 2026 remains $1.3 billion. APA also reported total production […]