The weekly rig count by Houston-based Baker Hughes shows 305 rigs in Permian Basin for the fourth straight week.  It’s been 13 weeks since Permian recorded an increase (up 2 to 318 April 19).  A year ago Permian reported 333 rigs. Also, U.S. added 2 rigs to 586 (669 a year ago), and there were […]

Dallas-based Energy Transfer said last week it formed a joint venture with Sunoco to combine the two companies’ crude oil and produced water gathering assets in the Permian Basin.  The JV will be operated by Energy Transfer and will include more than 5,000 miles of crude oil and water gathering pipelines and crude oil storage […]

Geologists and engineers from Railroad Commission of Texas will consult with environmental experts from other states to analyze an agency program that protects underground sources of drinking water.  The commission said last week it requested the Groundwater Protection Council, an organization of groundwater experts, to conduct an independent peer review of its Class II underground […]

Houston-based APA Corp. said last week its recent agreements to divest non-core assets in Permian Basin and Eagle Ford closed earlier than expected and for less than the $700 million expected.  Closing had been expected in third quarter for 24,000 net royalty acres in several counties in Midland Basin (2,000 boed net in 1Q) and […]

WhiteWater, Austin-based infrastructure company and operator of Whistler pipeline, said last week the ADCC pipeline started commercial service July 1.  It can provide about 1.7 billion cubic feet per day of natural gas to Cheniere’s Corpus Christi liquefaction facility from markets on Whistler’s Agua Dulce header in south Texas.  Receipt points in Agua Dulce provide […]

Houston-based 1PointFive, carbon capture, utilization and sequestration company, said last week it reached agreement with Microsoft to sell 500,000 metric tons of carbon dioxide removal credits over six years to support Microsoft’s carbon removal strategy.  1PointFive said July 9 it’s the largest single purchase of CDR credits enabled by direct air capture and “highlights the […]

Data from U.S. Bureau of Labor Statistics and Energy Workforce and Technology Council last week show continued improvement in employment growth in the oil and gas industry.  The energy services sector now supports 647,636 jobs across the nation, and for the first time in 2024 the employment growth outpaced growth in 2023 (by about 450 […]

Permian Basin’s streak of weeks without an increase in count of active drilling rigs has reached a dozen.  Baker Hughes said in its weekly report of July 12 that Permian reported 305 rigs for the third consecutive week (down 32 from 337 a year ago).  Permian last reported an increase April 19 (up 2 to […]

Houston-based private equity firms Post Oak Energy Capital and Genesis Park said last week they sold their interests in Layne Water Midstream in all-cash transactions.  Post Oak and Genesis Park said July 10 they worked closely with Layne management to grow its customer base and footprint in Permian Basin after investing in Layne in 2019.  […]