U.S. Energy Information Administration said Henry Hub spot prices for natural gas averaged $7.72 per million BTU in January.  That’s an increase of 81 percent from December because of “increased heating demand, reduced production and large inventory withdrawals as winter storm Fern blanketed a large portion of the U.S.”  In its short-term energy outlook released […]

Enverus’ latest rig count update released this week shows the number of frac crews in Permian Basin has increase in the past week and the past year.  As of Jan. 23, 2026, there were 106 crews in Permian Basin compared to 94 a week ago and 103 a year ago.  Across the U.S., there were […]

Findlay, Ohio-based MPLX said recently its capital spending for 2026 is expected to be about $2.7 billion, including an expansion of its Permian-to-Gulf Coast integrated value chain.  The capex will be comprised of 90 percent focus on growth capital and 10 percent on maintenance capital.  MPLX is progressing its long-haul pipeline growth to support expected […]

U.S. Energy Information Administration this week repeated its forecast of declining crude oil prices in 2026 and 2027.  After an estimated average of $69 per barrel in 2025, EIA said Feb. 10 in its short-term energy outlook that the price is expected to average $58 per barrel this year and $53/b in 2027.  EIA said […]

A second oil and gas company in the past week has announced relocation of its headquarters from Oklahoma City to Houston.  Expand Energy said this week chairman Mike Wichterich has been named interim CEO after the departure of CEO Nick Dell’Osso, who also resigned his seat on the company’s board.  Expand said it will relocate […]

Houston-based Chevron said last week its worldwide and U.S. net oil-equivalent production set annual records in 2025.  The Hess acquisition added 261,000 boed while Chevron legacy operations added another 124,000 driven by growth in the Permian Basin and project ramp-ups at TCO in Kazakhstan and in the Gulf of America.  Chevron said the Permian Basin […]

U.S. added drilling rigs for the third straight week and fourth time in six weeks in 2026, according to Baker Hughes’ weekly report of Feb. 6.  U.S. added 5 rigs in the past week for a new total of 551.  The count is up 6 for the year, but down 35 or 5.97 percent from […]

Houston-based Verde Clean Fuels said last week it suspended development of a gas-to-gasoline plant in Martin County in Midland Basin.  The suspension was “primarily as a result of changing market conditions driven by increasing demand for natural gas in the Permian Basin.”  The facility is a joint development of Verde and Cottonmouth Ventures, subsidiary of […]

RigER, provider of oilfield service and equipment rental management software, recently relocated its headquarters to Austin suburb Bee Cave.  RigER said the move is “designed to bring the company closer to the energy and technology ecosystems shaping the future of oilfield services.”  Michael Maltsev, CEO, added, “Austin’s unique blend of energy sector leadership and tech […]

Midland’s ProPetro Holding said recently its PROPWR division agreed to provide power for development and installation of distributed microgrids in the New Mexico portion of the Permian Basin with a subsidiary of Coterra Energy.  Operations for the project are scheduled to begin in first quarter. Travis Simmering, president of PROPWR, said, “By integrating PROPWR’s technical […]