U.S. count of active drilling rigs continues down for the year while counts in Permian Basin, Texas and New Mexico increased in the weekly report of Jan. 27 from Baker Hughes. There were 357 rigs in Permian Basin (up 3 in past week), 380 in Texas (unchanged), 105 in New Mexico (up 3) and 771 […]
Texas House Water Caucus includes nine representatives from west Texas
Initial roster of the Texas House Water Caucus includes nine members of the House of Representatives from west Texas. Sarah Schlessinger, CEO of Texas Water Foundation, said Jan. 13 the group will focus on creating a sustainable water system in Texas. She said aging infrastructure and limited investments have left Texas’ water infrastructure fragile. Last […]
Kinder Morgan plans continue for gas pipeline expansion, in service Nov. 1
Houston-based Kinder Morgan said Jan. 18 that land acquisition and procurement of materials and construction contractors continue as planned for expansion of Permian Highway natural gas pipeline. Target in-service date is Nov. 1 for the pipeline that will increase natural gas delivery from Permian Basin to Gulf Coast. The project will expand Permian Highway’s capacity […]
Permian Resources acquires assets in Lea, divests assets in Reeves, Eddy
Midland-based Permian Resources Corp. said Jan. 17 it recently made several portfolio management transactions, including acquisition of 4,000 net leasehold acres, 3,300 net royalty acres and 1,100 boed (73 percent oil) of net production primarily in Lea County, N.M., from an undisclosed seller for $98 million. James Walter, co-CEO, said, “The combined transactions high-grade our […]
ExxonMobil achieves zero routine flaring in Permian Basin in 4Q
Irving-based ExxonMobil said this week its operated assets achieved zero routine flaring in Permian Basin in 2022Q4. Exxon also said it remains on track to meet its goal of zero routine flaring across all its global upstream operated assets by 2030 to support the World Bank’s zero routine flaring initiative. Exxon reduced methane emissions intensity […]
Vitol company acquires Midland’s Delaware Basin Resources
VTX Energy Partners, U.S. upstream unit of global energy company Vitol, Inc., said Jan. 19 it will acquire Midland’s Delaware Basin Resources and its associated surface and water businesses. The deal is VTX’s first acquisition since the partnership was established by Vitol and VTX last year. Assets to be acquired include 35,000 net leasehold acres […]
Determining Legislative Fate
by Julie Anderson The chairmanships and memberships of Texas legislative committees make newspaper headlines during the session because of these two sentences: The bill died in committee. The bill was reported out of committee. Those trying to prevent the passage of proposed legislation hope for No. 1. Those advocating for a bill root for […]
A Look Ahead
Members, This new year of 2023 will no doubt bring us great changes. We are hopeful of real progress as our elected officials gather in Washington, Santa Fe, and Austin to develop public policy that will leverage America’s great natural resources. Meanwhile, we cannot lose sight of the fact that our opposition is both obstructive […]
Upstream employment grows by 1,300 in December, by 36,100 for year
Texas Workforce Commission said last week that upstream oil and gas employment increased by 1,300 jobs in Texas in December and by 36,100 for the year 2022 to 211,200. Todd Staples, president of Texas Oil and Gas Association, said, “It is encouraging to see upstream employment end the year on a positive note, particularly as […]
Industry pays record $24.7 billion in state, local taxes, state royalties in 2022
Texas’ oil and natural gas industry paid a record $24.7 billion in state and local taxes and state royalties in fiscal year 2022, according to annual economic impact report released Monday in Austin by Texas Oil and Gas Association. Todd Staples, association president, said the total “shattered” the previous record of $16 billion in 2019 […]
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