Baker Hughes reported declines in drilling rig counts in Permian Basin for the second straight week and in U.S. for the fourth straight week.  In the weekly report of March 10, there were 343 rigs in Permian (349 week ago, 316 year ago) and 746 rigs in U.S. (749 week ago, 663 year ago).  Also, […]

Global research firm Wood Mackenzie said recently it expects U.S. to become the world’s largest exporter of LNG in 2023 after ranking third in 2022.  Giles Farrer of Wood Mackenzie said Feb. 22, “Record high prices and the need for energy security drove buyers … to seek long-term U.S. LNG deals in 2022 and created […]

Houston-based EOG Resources said in its fourth quarter earnings report it forecasts “steady development” in its “disciplined capital program” in 2023 in Delaware Basin, its largest operation.  Billy Helms, president and CEO, said Feb. 24, “We didn’t really feel that we wanted to ramp up activity anymore in the Delaware Basin, but instead leverage on […]

Houston-based Occidental Petroleum said in its fourth quarter earnings report that it forecasts 2023 production in Permian Basin of 560,000 to 590,000 boed – in line with the late 2022 rate of 565,000 boed.  Oxy is targeting capital expenses in 2023 of $5.2 billion to $5.6 billion – up from $4.5 billion in 2022 and […]

Among the hundreds of speakers at CERAWeek by S&P Global in Houston this week was Jennifer Granholm, U.S. energy secretary, who told industry leaders Wednesday, “Oil and gas is going to remain a part of our energy mix for years to come.  This transition is not about closing doors; it’s about opening new windows of […]

Austin-based frac sand provider Atlas Energy Solutions told Enverus recently its Dune Express will be the first long-haul overland conveyor system to deliver proppant.  Atlas secured contiguous right-of-way for its $400 million system of 42 miles from its facilities into northern Delaware Basin by yearend 2024. Atlas also controls more than 14,500 acres on two […]

Kinetik Holdings said in its 4Q earnings report it is expanding its natural gas system across the stateline into Lea County, N.M., to begin service in 2024Q1.  Jamie Welch, CEO and president of the company with offices in Midland and Houston, said Feb. 27 Kinetik will construct 20 miles of large-diameter, high-pressure pipeline to connect […]

Dallas-based Pioneer Natural Resources, with deep inventory across Midland Basin, said in its fourth quarter earnings report that production this year will increase about 4 percent from 2022 exit rate and about 3.6 percent over full-year daily volume.  Pioneer said Feb. 22 its oil production for 2023 is forecast between 357,000 and 372,000 b/d, and […]

Oklahoma City-based Devon Energy said in its fourth quarter earnings report that Delaware Basin in Permian will be the top funded asset in its portfolio in 2023 with 60 percent of capital expenses.  Devon said Feb. 22 total capex for 2023 is $3.6 billion to $3.8 billion with production of 643,000 to 663,000 boed.  Rick […]

Houston-based Targa is relocating an existing natural gas processing plant from the Eagle Ford shale region of south Texas to Delaware Basin and progressing with construction of four other gas processing projects in Permian Basin.  The five new plants will add 1.2 bcfd of gas processing capacity to Targa’s Permian operations. The relocated plant was […]