Sydney, Australia-based Macquarie Group, global financial services company and investment bank, said it expects U.S. crude oil production to reach about 14 million barrels per day by yearend 2024.  According to Oil & Gas Journal, the projections in a recent report by Macquarie include a slight downward adjustment in the shale outlook offset by anticipated […]

Houston-based Enterprise Products Partners said this week it will expand its natural gas processing capabilities in the Permian Basin with construction of the Mentone West 2 plant in Loving County in Delaware Basin.  The new facility will have capacity to process more than 300 million cubic feet per day of natural gas and to extract […]

Dallas-based Axis Energy Services said recently it has deployed the industry’s first fully electric well service rig on wells operated by Occidental Petroleum in Permian Basin.  Axis said its EPIC RIG “provides improvements in safety and efficiency as well as the ability to run on grid power for reduced emissions and increased fuel flexibility.”  EPIC […]

New Mexico led gains in count of active drilling rigs last week, according to the weekly report of March 28 from Baker Hughes.  The only major producing state to add rigs last week, New Mexico reported 111 rigs (up 5 in past week, up 7 in past year).  It is the state’s highest rig count […]

Dallas-based Matador Resources said last week it has completed two natural gas pipeline connections in northern Delaware Basin.  Joseph Wm. Foran, chairman and CEO, said connections were completed between Pronto Midstream and San Mateo and between Pronto Midstream and Matador’s new acreage in Lea County, N.M., obtained from Advance Energy Partners Holdings.  Matador’s announcement March […]

U.S. Department of Energy said this week it has purchased an additional 2.8 million barrels of crude oil produced in the U.S. for the nation’s strategic petroleum reserve.  Contracts were awarded Thursday to three companies for September delivery to the Big Hill storage site in Jefferson County in southeast Texas.  DOE has now purchased 32.3 […]

Data from U.S. Bureau of Labor Statistics show a steady increase in oilfield employment, according to Energy Workforce and Technologies Council.  The council said oilfield employment reported a slight gain last month by adding 1,466 jobs.  Energy employment improved 22.5 percent from January “as the market continues to steady itself amid global geopolitical conflicts.” Molly […]

Houston-based Milestone Environmental Services said this week it opened its third Permian Basin facility 10 miles south of Stanton at CR 470.  The Stanton landfill facility accepts drill cuttings, contaminated soils, non-injectable fluids and other RCRA-exempt waste from exploration and production operations.  It is located with Milestone’s Stanton slurry injection facility and “provides customers with […]

Calgary-based Enbridge said this week it reached agreement with WhiteWater I Squared Capital and MPLX for a joint venture to develop, construct, own and operate natural gas pipelines and storage assets connecting natural gas supply in Permian Basin to growing demand for LNG on the Texas coast.  The JV will be owned by WhiteWater I […]