New Mexico’s Oil Conservation Commission voted Wednesday to adopt new bonding requirements to ensure that operators pay for plugging orphaned oil and gas wells.  A report in the Santa Fe New Mexican said the new rules will require financial assurance of $150,000 for high-risk wells, including low-producing and aging wells. Tannis Fox, attorney at Eugene-based […]

U.S. field production of crude oil reached a record 13.934 million barrels per day in April, according to data released Tuesday by U.S. Energy Information Administration.  The record output surpassed the 13.718 million b/d produced in March as producers responded to the oil price increase triggered by the U.S.-Israeli war in Iran and the closure […]

Houston-based Trace Midstream Partners said recently it will construct Apollo, a natural gas processing facility in Eddy County, N.M., with capacity of 250 million cubic feet per day.  Trace also will construct 36 miles of gathering pipelines and two compressor stations.  The new infrastructure is supported by long-term contracts from both new and existing customers. […]

Dallas-based Matador Resources said Monday that San Mateo Midstream, Matador’s 51 percent-owned joint venture with Five Point Infrastructure, reached agreement to acquire operating subsidiaries of Cardinal Midstream Partners for $752 million cash.  Cardinal’s midstream assets complement San Mateo’s existing natural gas gathering and processing system and provide San Mateo the ability to move natural gas […]

Fort Worth-based Kimbell Royalty Partners closed the previously announced purchase of mineral and royalty interests held by Mesa Royalties across 16 counties in the Permian Basin for $145.9 million ($44 million cash).  Kimbell estimates that for the next 12 months as of June 1 the assets will produce about 1,390 boed (including 754 b/d of […]

Oil and gas drillers in Permian Basin, Texas and U.S. returned to activity last week as Baker Hughes reported a gain of 10 drilling rigs in the U.S. as of June 26.  That’s a gain of 26 or 4.75 percent to 573 from 547 a year ago.  It’s the largest one-week gain in U.S. in […]

Albuquerque-based Sigma Advanced Technologies recently launched its new next-generation mobile ozone water treatment containers.  Sigma said the containers are engineered “to transform how industrial operators manage and reuse wastewater.”  Sigma’s announcement added, “Designed for maximum flexibility and performance, these modular treatment units can process everything from low-flow industrial waste streams to high-volume waters reaching up […]