Midland-based Diamondback Energy said this week it agreed to purchase all leasehold interests and related assets in Midland Basin of Fort Worth-based FireBird Energy in a cash and stock transaction valued at $1.6 billion.  Diamondback acquired 75,000 gross (68,000 net) highly contiguous acres for 5.86 million shares of Diamondback common stock and $775 million cash.  […]

Houston Chronicle reported this week that Railroad Commission of Texas is preparing an application to U.S. Environmental Protection Agency to assume responsibility for permitting of carbon storage wells.  Chronicle said Texas Attorney General’s office is reviewing state environmental laws to verify that they meet federal requirements.  When that is complete, commission officials said, Governor Greg […]

The Environmental Partnership, formed in 2017 by a group of 26 oil and natural gas companies to reduce emissions from oil and gas operations, recently issued its annual report on activities in 2021 in its six programs – leak detection and repair, pneumatic controller, manual liquids unloading, compressor, pipeline blowdown and flare management.  The group […]

Baker Hughes’ count of drilling rigs reached a 2022 high of 113 in New Mexico for the week that ended Sept. 30.  New Mexico added 2 rigs in the past week and 27 in the past year.  Also, as of Sept. 30 there were 344 rigs in Permian Basin (unchanged in past week, up 81 […]

Dallas-based Texas Pacific Land Corp. and Houston-based WaterBridge said recently they established an alliance focused on sustainable oil and gas development on 64,000 acres in Loving and Reeves counties in Delaware Basin.  The agreement enables TPL and WaterBridge to provide fullcycle water solutions to customers in a defined region in the Stateline area by facilitating […]

U.S. Energy Information Administration said this week exports of U.S. petroleum products reached an all-time high during first half of 2022, according to records dating back to 1973.  Exports averaged nearly 6 million barrels per day – an increase of 11 percent or 596,000 b/d over first half of 2021.  Distillate fuel oils increased by […]

San Antonio-based Stakeholder Midstream said Sept. 13 it received approval from U.S. Environmental Protection Agency for its MRV plan (monitoring, reporting, verification) for permanent sequestration of carbon dioxide in Permian Basin.  The Pozo Acido injection well is near the Texas-New Mexico border in Yoakum County.  Stakeholder said it’s the first MRV plan approved by EPA […]

Record oil and gas production in New Mexico in FY 2022 resulted in record revenue of more than $2 billion for the state.  The State Land Office said in FY 2022 that ended June 30 the state produced 132 million barrels of oil and 659 billion cubic feet of natural gas.  Production has grown since […]