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 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, […]

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).  […]

Houston-based Milestone Environmental Services, independent provider of energy waste sequestration services, said Jan. 3 it recently opened its first facility in New Mexico.  The Battle Axe facility is the first Milestone plant outside of Texas and the first of its kind permitted in New Mexico by the state’s oil conservation division to inject liquid oilfield […]

Houston-based services firm Baker Hughes said in its first weekly report of 2023 that the count of U.S. active drilling rigs declined by the biggest margin in 15 months.  The U.S. count fell by 7 rigs to 772 as of Jan. 6 in the previous week.  Also, there were 353 rigs in Permian Basin (unchanged […]

Don L. Sparks of Midland, founder and chairman of the board for Discovery Operating, will receive the 2022 Top Hand award from Permian Basin Petroleum Association Jan. 18 at Petroleum Club of Midland.  After beginning his career with Shell, Sparks founded Discovery in 1973.  He is a Navy veteran and graduate of University of Texas […]

Christi Craddick, chair of the Railroad Commission of Texas, said Jan. 6 that the commission will not accept $300 million in federal funding to plug abandoned wells until it learns conditions of the funding.  “We’re going to wait to see what their rules are before we decide,” she said in Houston at a meeting of […]

Houston-based Targa Resources said this week it completed the previously announced acquisition of the 25 percent interest in Grand Prix NGL pipeline held by Blackstone Energy Partners for $1.05 billion cash.  Targa said Monday it now owns 100 percent of Grand Prix, which transports up to 1 million b/d of NGLs to Mont Belvieu.  The […]

Irving-based Pioneer Natural Resources lowered its long-term forecast for production in the Permian Basin, according to a report by Bloomberg.  Scott D. Sheffield, president and CEO, said Jan. 5 at a conference in Miami that Pioneer now forecasts about 7 million barrels a day by 2030 – down from a previous estimate of 8 million […]