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 […]

Dallas-based EnLink Midstream recently announced its third plant relocation.  The relocation of Tiger II to Permian Basin remains on schedule to be placed into service in 2024Q2 from EnLink’s Mid-Continent field.  Earlier the plant was known as Cowtown when it was operating in Barnett Shale with capacity of 150 million cfd. Enverus said Permian Basin […]

A small school district in east Texas is the first in the state to replace its diesel school bus fleet with no-emission electric buses.  Martinsville ISD in Nacogdoches County received a grant of $1.6 million from the U.S. Environmental Protection Agency, which is investing $5 billion in its clean school bus program.  Martinsville ISD began […]