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 […]
Texas only state to add drilling rigs last week, Permian down 2 to 354
Texas was only major producing state to add drilling rigs last week (up 1 to 380), according to weekly report of Jan. 20 by Baker Hughes. Also, there were 354 rigs in Permian Basin (down 2 in past week), 102 in New Mexico (down 1 in past week) and 771 in U.S. (down 4 in […]
Permian oil production to increase to 5.635 million b/d in February
Forecast of oil production in Permian Basin by U.S. Energy Information Administration continues to grow. EIA said Jan. 17 that production in Permian is expected to increase by 30,000 b/d in February to 5.635 million b/d from 5.605 million b/d in January. In 7 major producing regions, production is expected to grow to 9.375 million […]
Matador subsidiary Pronto acquires Delaware Basin’s Advance Energy
Pronto Midstream, subsidiary of Dallas-based Matador Resources, said Tuesday it agreed to acquire Advance Energy Partners and its oil- and natural gas-producing properties and undeveloped acreage in Delaware Basin for initial cash payment of $1.6 billion. The deal includes about 18,500 net acres (99 percent held by production) in core of northern Delaware Basin in […]
Interior department opens program office for orphan well cleanup
U.S. Department of Interior said recently it has opened a new program office intended to ensure effective, accountable and efficient implementation of the federal government’s recent investment in cleanup of orphaned oil and gas wells. Last year $43.7 million was allocated in initial funding for New Mexico from a total funding of $4.7 billion. The […]
Permian operator Laredo Petroleum changes name to Vital Energy
Tulsa-based Laredo Petroleum said last month it is changing its name to Vital Energy. In Laredo’s 2022 environmental, social and governance and climate risk reports, Jason Pigott, president and CEO, said Laredo’s rebrand effective Jan. 9 is “consistent with its goal to ensure everyone has access to the reliable, affordable energy resources needed to power […]
Permian, Texas, New Mexico add rigs; New Mexico leads with 3 new rigs
Permian Basin, Texas, New Mexico and U.S. each added rigs in the second week of 2023, according to the weekly report of Jan. 13 from Baker Hughes. There were 356 rigs in Permian (353 week ago, 293 year ago), 379 in Texas (378 week ago, 281 year ago), 103 in New Mexico (100 week ago, […]
Delek allocates 2023 capex to expanding gathering business in Permian
Brentwood-based Delek U.S. Holdings said Jan. 4 its consolidated capital expenditure for 2023 will be about $350 million after an estimated $300 million capex in 2022. Delek said growth capital is primarily allocated to expanding its gathering business in Permian Basin. Sustaining capital includes a planned turnaround at its refinery in Tyler (75,000 b/d capacity). […]
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