Calgary-based Enbridge recently said it is continuing with plans to expand Gray Oak pipeline by 200,000 barrels per day from Permian Basin to the Gulf Coast.  Enbridge CEO Greg Ebel said Nov. 3 on the company’s third quarter earnings call that an open season for the expansion is scheduled to start by the end of […]

U.S. added to its count of active oil and gas drilling rigs for the third straight week, according to Baker Hughes, and Texas and Permian Basin also reported additional rigs last week.  In the latest weekly report as of Dec. 1, there were 314 rigs in Permian Basin (311 previous week, 350 year ago), 306 […]

Texas comptroller Glenn Hegar last month deposited $3.06 billion – the second highest total in the fund’s history – into the state’s Economic Stabilization Fund for fiscal year 2024.  The so-called “Rainy Day Fund” was created in 1988, and oil and gas production tax is the source of the majority of revenue deposited into the […]

Bloomberg reported Monday that U.S. gasoline prices have dropped for 60 consecutive days – their longest streak of declines in more than a year.  The average price for a gallon of gasoline in the U.S. is $3.25 – about 30 cents less than at the same time last year.  AAA said one gallon of gasoline […]

A hearing is scheduled next month in Austin on a challenge by the City of Midland to applications for disposal wells in west Texas near a source of its drinking water.  Pilot Water Solutions is asking to inject oil and gas wastewater deep underground near T-Bar Ranch, where Midland gets 30-to-35 percent of its water […]

Midland-based Kinetik Holdings said in its third quarter announcement it completed construction of its Delaware link pipeline in September and placed it into service in October.  The 45-mile pipeline (30 inches) transports one billion cfd of natural gas and connects Kinetik’s processing facilities in Reeves County to Waha hub.  The project is backed by long-term […]

Texas and U.S. added active oil and gas drilling rigs in the past week, according to the weekly report from Baker Hughes issued two days early Nov. 22 because of Thanksgiving holiday.  There were 622 rigs in U.S. (up 4 in past week, down 162 in past year), 303 in Texas (up 1 in past […]

Denver-based Ovintiv said recently it revised fullyear production guidance “due to strong well productivity across the portfolio and faster-than-expected integration of recently acquired Permian assets.”  Brendan McCracken, president and CEO, said Nov. 8 on an earnings call that the company’s “trimulfrac” operations are “setting the leading-edge efficiency frontier in the Midland Basin.”  The trimulfrac technique […]