The administration of President Trump said Tuesday it will offer another 40 million barrels of crude oil for the market from the nation’s strategic petroleum reserve, which held about 283.8 million barrels as of Sept. 25.  That’s the SPR’s lowest level in more than 40 years.  If companies take all 40 million barrels before any […]

Dallas-based Matador Resources said Thursday it closed the $1.255 billion acquisition of Paloma Permian with plans to begin drilling operations on up to 25 wells by yearend 2027.  The deal adds 156 net locations across 9 potential targeted benches to Matador’s inventory along with about 16,500 net primarily undeveloped acres in Eddy and Lea counties […]

Gainesville-based Select Water Solutions said last week it agreed to acquire Pilot Water Solutions, private water midstream company that operates primarily in Delaware Basin, for $700 million ($600 million cash).  Pilot’s infrastructure includes about 2.7 million barrels per day of disposal capacity, 0.9 million b/d of undeveloped disposal capacity and more than 700 miles of […]

A recent quarterly lease sale for Texas, New Mexico and Oklahoma by U.S. Bureau of Land Management resulted in total receipts of $139,021,741 for the federal government and the states where parcels are located.  BLM said the Aug. 20 sale “is the latest in a series of successful sales in New Mexico, underscoring strong industry […]

Texas’ count of active oil and gas drilling rigs declined for the second straight week while the U.S. count increased for the third straight week.  Houston-based services firm Baker Hughes said as of Sept. 25 there were 281 rigs in Texas (down 2 in the past week, up 35 or 14.23 percent from 246 in […]

Colorado recently became the first state in the nation to fully adopt the existing methane standards of the U.S. Environmental Protection Agency.  The state’s Air Quality Control Commission in the Department of Public Health and Environment voted unanimously Sept. 18 to adopt new standards for oil and gas operators under the 2024 EPA methane rules. […]

New Mexico Oil and Gas Association will conduct its annual meeting Oct. 5-7 in Santa Fe.  Among topics on the agenda will be NMOGA public outreach, legislative updates and regulatory issues.  Speakers will include Kate MacGregor, deputy secretary of the U.S. Department of the Interior; EPA Region VI director Scott Mason; and Stevan Pearce, director […]

Christi Craddick, chair of the Railroad Commission of Texas, and Missi Currier, president and CEO of the New Mexico Oil and Gas Association, were among the featured speakers recently at the annual meeting of Permian Basin Petroleum Association.  Craddick (R-Midland) spoke at the PBPA luncheon Sept. 17 in Midland. Craddick said during the upcoming 90th […]

Calgary-based TC Energy said recently it agreed to sell Energia Occidente de Mexico, the entity that owns the Guadalajara-Manzanillo pipeline, to affiliates of Esentia Energy Development for $400 million.  Hart Energy said the deal will give Esentia the only integrated, private natural gas system from Permian Basin into central Mexico and out to the Port […]