Texas and U.S. posted 2022 high counts of active drilling rigs for the second straight week.  Baker Hughes said as of Nov. 18 there were 349 rigs in Permian (down 1 past week, up 71 in past year), 375 in Texas (up 2 in past week, up 104 in past year), 103 in New Mexico […]

Tulsa-based Laredo Petroleum said Nov. 3 it expects 2022Q4 production of 72,500 to 75,500 boed (32,000 to 34,000 b/d of oil) with capital expenditures of $135 million to $145 million.  Focused on the Permian, Laredo now is operating two drilling rigs and one completion crew and expects to complete 13 wells in Q4.  Production in […]

Railroad Commission of Texas deployed inspectors to Reeves County after an earthquake of 5.4 magnitude Nov. 17 west of Pecos near the Reeves-Culberson border.  The agency is monitoring seismic data from U.S. Geological Survey, TexNET seismic monitoring program and private operator monitoring stations.  RRC inspectors are examining disposal activity at disposal wells in the area, […]

Crude production in seven major regions of U.S. is forecast to continue growing in December by U.S. Energy Information Administration.  EIA said in its latest drilling productivity report Nov. 14 that production is expected to grow by 91,000 b/d from November to 9.191 million b/d in December.  That includes a record 5.499 million b/d in […]

Midland-based Diamondback Energy made its second major acquisition in as many months with the Nov. 16 announcement that it is acquiring all leasehold interest and related assets of Lario Permian, subsidiary of family-owned Lario Oil & Gas. Value of the cash-and-stock transaction is $1.5 billion ($850 million cash). Closing is expected Jan. 31, 2023, for […]

A recent report in Houston Chronicle said the emerging sand mining industry in west Texas – virtually nonexistent a decade ago – includes seven mobile mines that save companies hundreds of thousands of dollars per well.  Research firm Rystad Energy told the Chronicle west Texas now has 24 sand mines, including seven mobile, to take […]

Texas and U.S. posted their highest counts of active drilling rigs so far this year in Baker Hughes’ weekly report of Nov. 11.  Texas had 373 rigs (up 4 in past week, up 109 in past year), and U.S. had 779 rigs (up 9 in past week, up 223 in past year).  (Texas also had […]

Houston-based Select Energy Services said it completed the acquisition on Nov. 1 of Permian Basin water recycler Breakwater Energy Partners in a stock-for-stock transaction (assumed $12.6 million of debt).  Breakwater provides water infrastructure, recycling, transfer and disposal to operators in Permian Basin with complementary water logistics in Eagle Ford.  Breakwater operates four commercial recycling facilities […]

San Antonio-based Stakeholder Midstream said Nov. 1 it will install a second treating and processing train at its Camp Viejo facility in Yoakum County to serve producers in Permian Basin’s northwest shelf in Yoakum, Lea and surrounding counties.  The second train (80 million cubic feet per day) will double the inlet gas capacity to 160 […]

Midland-based Diamondback Energy said its revenues grew in 2022Q3 as oil prices increased even though its production declined.  Diamondback produced 390,600 boed (224,300 b/d of oil) in 2022Q3 compared to 404,300 boed during 2021Q3.  Diamondback drilled 48 gross horizontal wells in Midland Basin and 11 gross horizontal wells in Delaware Basin in 2022Q3, and the […]