Chris Wright, CEO of Denver-based Liberty Energy, was confirmed by the U.S. Senate Monday as secretary of energy in the new administration of President Donald Trump. Wright, 60, has been chair and CEO of Liberty since 2011. A graduate of MIT, he founded Pinnacle Technologies and later served as chairman of Stroud Energy. He was […]
Permian Basin drives increase in natural gas production, but demand grows faster
U.S. Energy Information Administration expects Henry Hub natural gas price to increase in 2025 and 2026 as demand for natural gas grows faster than supply. There is more demand from U.S. LNG export facilities which reduces natural gas in storage compared with the last two years. EIA said Jan. 23 it expects U.S. benchmark Henry […]
Atlas Energy acquires distributed power system in Permian from Moser Energy
Austin-based Atlas Energy Solutions said last week it agreed to purchase Moser Energy Systems, a provider of distributed power solutions, in a cash and stock transaction valued at $220 million ($180 million cash). Atlas said the combination of its completion platform and Moser’s distributed power platform creates “an innovative, diversified energy solutions provider with a […]
U.S., Permian Basin reverse eight-week decline by adding drilling rigs
Permian Basin and U.S. added drilling rigs last week for the first time in eight weeks, according to the weekly report of Jan. 31 from Baker Hughes. There were 303 rigs in Permian Basin (up 5 in the past week, down 8 in the past year) and 582 in U.S. (up 6 in the past […]
Rigging Up
The oil patch used to be famous for its behind-the-times mantra: “We’ve always done it this way.” But since the Shale Revolution and the increasing demand for speed, accuracy, and length in the drilling rig sector, that phrase is gone. “How can we do it better today than yesterday?” is the question for everyone. For […]
Legislative Update 2025
89th Texas Legislature, Jan. 14-June 2 57th New Mexico Legislature, Jan. 21-March 22 With the endgame of a balanced budget in mind, Texas and New Mexico lawmakers begin each session with a revenue forecast. Lone Star State On Jan. 13, Texas Comptroller Glenn Hegar released a Biennial Revenue Estimate of $194.6 billion to spend […]
East Daley attributes NGL production records to Daytona pipeline from Permian
East Daley Analytics recently attributed NGL production records in 2024Q4 to Targa’s Daytona pipeline from Permian Basin to Mont Belvieu and Targa’s access to Energy Transfer’s Sendero plant, where Daytona receives much of its NGL volumes in New Mexico. NGL production hit another record in October 2024 after previous records in March, April, May and […]
WaterBridge to construct, operate new produced water capacity for BPX Energy
Houston-based WaterBridge Operating and NDB Midstream said last week they agreed to support the long-term development plans of BPX Production in the Stateline region of Delaware Basin. WaterBridge will construct and operate 400,000 barrels per day of new produced water capacity in the next three years with the ability to increase capacity to 600,000 b/d. […]
Diamondback makes ‘drop down’ deal with Viper for mineral, royalty interests
Midland-based Diamondback Energy said Thursday it reached agreement with subsidiary Viper Energy to sell mineral and royalty interests from subsidiaries of Diamondback for $1 billion in cash and about 69.6 million units of Viper’s operating subsidiary in a “drop down” transaction. The transaction is valued at $4.45 billion. Travis Stice, chairman and CEO of Diamondback, […]
Rig counts fall: Permian down 6 to 298, Texas down 4 to 277, U.S. down 4 to 576
Counts of active drilling rigs in Permian Basin, Texas, New Mexico, and U.S. all fell in the past week, according to data in the weekly report of Jan. 24 from Baker Hughes. The U.S. count dropped to 576, down 4 in the past week and 45 in the past year. That’s the lowest U.S. count […]
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