Counts of active drilling rigs in Permian Basin and U.S. by Baker Hughes continue sinking to low counts last reported in November 2021.  In the weekly report of May 30, there were 278 rigs in Permian Basin (down 1 from 279 one week earlier, down 32 from 310 a year earlier) and 563 in U.S. […]

Midland-based ProPetro Holding Corp. recently said its ProPwr division secured its first contract to commit 80 megawatts of power generation for an exploration and production operator in Permian Basin.  ProPetro said May 20 that asset deployment is scheduled to begin in 2025 third quarter and continue through 2026.  ProPwr will deliver turnkey power to a […]

Dallas-based Matador Resources and affiliate San Mateo Midstream last week announced startup of an expansion of San Mateo’s Marlan cryogenic natural gas processing plant in Delaware Basin.  The expansion adds 200 million cfd of natural gas capacity to the plant in Eddy County, N.M., to bring total capacity to 260 million cfd. Joseph Wm. Foran, […]

Houston-based Chevron Corp., in a report to the Texas Workforce Commission May 16, said it plans to reduce its workforce on its campus in Midland this year by about 200 employees.  Catie Matthews of Chevron told Midland Reporter Telegram, “Chevron aims to place as many employees as possible in other roles and is offering severance […]

Oil majors ExxonMobil and Occidental Petroleum are the top operators in Permian Basin, according to a report May 27 from Enverus.  The report said as of May 23 the latest weekly averages of active drilling rigs were 35.0 for ExxonMobil and 22.1 for Occidental.  Other leading operators in Permian are Mewbourne Oil with 15.9, EOG […]

Denver-based Civitas Resources said recently it is maintaining its full-year production while reducing 2025 capital spending by about 8 percent.  Civitas said May 8 that production guidelines this year remain at 330,000 boed and 152,500 barrels per day of crude oil.  First quarter production was 311,000 boed (down 14 percent from 4Q) and 141,000 b/d […]

Officials from Texas Department of Public Safety told the Houston Chronicle there has been a surge in activity in oilfield theft the past two years in Permian Basin. The increased incidents of oilfield theft attracted the attention of lawmakers in Texas and Washington who are considering whether to increase funding for law enforcement and to […]

Permian Basin is following trends in Texas, New Mexico and U.S. with declining counts of active oil and gas drilling rigs. Baker Hughes said in its report of May 23 there were 279 rigs in Permian Basin – down 3 from 282 in the past week and down 33 or 11 percent from 312 a […]

Brentwood, Tenn.-based Delek Logistics Partners said recently commissioning of its new Libby II plant started to provide a “much needed processing capacity expansion” in Lea County, N.M. Delek plans to fill it to capacity in 2025 second half by adding 100 million to 120 million cfd of processing. Avigal Soreq, president, said May 7, “Delek […]