For the second consecutive month, New Mexico smashed its record for revenue earned from monthly oil and gas lease sales.  New Mexico Land Office said the latest sale Aug. 19 produced $256 million to surpass the $56 million raised in July. The August sale was the second under a new state law allowing the Land […]

Willow Park-based ProFrac and Austin-based Seismos said recently they are partnering for the launch of closed loop fracturing now available across all major U.S. basins.  It’s the first large-scale deployment of an operator-validated, real-time quality control system to enable closed loop fracturing.  ProFrac said, “The system redefines how completions are measured, optimized and scaled and […]

The streak in Permian Basin of declining or flat rig counts reached 29 weeks in Baker Hughes’ latest report.  As of Sept. 19, there were 254 active drilling rigs in Permian for the third straight week.  And the count is down 53 or 17.3 percent from the count of 307 a year ago.  The last […]

Dallas-based Aspen Midstream said last week it secured an equity commitment from EnCap Flatrock Midstream and Aspen’s management team to launch Aspen Midstream II.  The company will pursue midstream infrastructure opportunities across North America – primarily targeting natural gas transmission and last-mile solutions to support unprecedented gas demand growth. Matt Ray, co-CEO of Aspen Midstream, […]

San Antonio-based CPS Energy said this week it will acquire four natural gas power generation facilities from PROENERGY for $1.387 billion.  The total electric capacity is 1,632 megawatts for the deal expected to close in 3Q.  The acquired assets are in the ERCOT market in Texas in state-of-the-art plants in Brazoria, Galveston and Harris counties.  […]

Texas again led the nation in solar installations in the first half of 2025 by adding enough solar capacity to power 950,000 homes.  A recent report from Solar Energy Industries Association and Wood Mackenzie said Texas added 3.8 gigawatts of solar capacity – more than half of the U.S. total – in the first six […]

U.S. Energy Information Administration expects U.S. average retail price for regular-grade gasoline will average about $3.10 per gallon this year – down 20 cents per gallon from last year.  In its latest Short Term Energy Outlook published last week, EIA forecast retail gasoline price will fall to an average of $2.90/gal in 2026 with the […]

After 15 weeks of declining or flat counts of active drilling rigs, Texas added rigs for the third straight week.  As of Sept. 12, Baker Hughes said there were 244 active rigs in Texas – up 1 in the past week but down 30 or 10.9 percent from 274 a year ago.  Texas started the […]

Houston-based Phillips 66 said last week it will acquire the remaining 50 percent interest in WRB Refining from subsidiaries of Cenovus Energy for $1.4 billion.  WRB Refining is a 50/50 joint venture of Phillips 66 and Cenovus that includes a refinery in Borger serving markets across west Texas, New Mexico and the U.S. southwest.  The […]

In its latest Short Term Energy Outlook, U.S. Energy Information Administration said it expects “the Brent crude oil price will decline significantly in the coming months.”  EIA forecasts the price will fall from $68 per barrel in August to an average of $59/b in 4Q and about $50/b in early 2026 and $51/b for fullyear […]