In its latest report on domestic reserves, U.S. Energy Information Administration said Texas still held more proved reserves of crude oil and lease condensate than any other state at the end of 2021 (up 12 percent or 1.9 billion barrels).  Proved reserves of U.S. crude oil and lease condensate increased by 16 percent to 44.4 […]

Permian Basin and Texas each finished the year with a high count of active oil and gas drilling rigs for the year, according to Dec. 30 report from industry services firm Baker Hughes.  There were 353 rigs in Permian Basin (352 week ago, up 20.4 percent from 293 a year ago) and 376 rigs in […]

Oil production in Permian Basin and other major producing regions of U.S. continues to rise in monthly drilling productivity reports from U.S. Energy Information Administration.  EIA said in its Dec. 12 report that production for January in Permian Basin is expected to increase to 5.579 million barrels per day from 5.542 million b/d last month […]

Arlington-based U.S. Energy Development said Dec. 20 it completed its Rio Hondo three-well pad in western Ward County.  Each of the three Wolfcamp B horizontal wells had about 9,900 feet of completed lateral.  “We are very pleased with our drilling performance,” Kevin Duncan, vice president, said.  “Completing frac stages as designed is no easy feat […]

The first stratospheric balloon equipped with methane-detection sensors is scheduled to launch this month by San Francisco-based Scepter for ExxonMobil on the Texas side of the Permian Basin.  Philip Father, CEO of Scepter, said balloons carrying hyperspectral sensors operating in short-wave infrared never have been commercially deployed to get this detailed level of data.  Balloons […]

Austin-based Texans for Natural Gas, a project of Texas Independent Producers and Royalty Owners Association, said Dec. 21 the rate of methane emissions intensity in Permian Basin fell by 76 percent in 10 years from 2011 to 2021.  In its fourth annual report, TNG said in those 10 years production increased by 345 percent.  In […]

Fort Worth-based Kimbell Royalty Partners said Dec. 15 it completed the purchase of 889 net royalty acres in Permian Basin that produce 2,072 boed (58 percent oil) from Austin-based Hatch Royalty for $270.7 million in cash and stock ($150.4 million cash).  Kimbell said 2023 production is forecast at 2,522 boed, including 1,439 b/d of oil, […]

Tulsa-based Oneok said Dec. 20 it filed an application with Federal Energy Regulatory Commission for permission to construct and operate the Saguaro connector pipeline to export natural gas to a new international border crossing at the USA-Mexico border 18 miles southwest of Sierra Blanca in Hudspeth County.  The proposed pipeline will transport up to 2.8 […]

Minneapolis-based Northern Oil and Gas said Dec. 19 it closed on a previously announced acquisition of non-operated interests from a private seller in northern Delaware Basin for $131.6 million.  The bolt-on assets include 2,100 net acres in Eddy and Lea counties in New Mexico and Loving and Winkler counties in Texas.  Average production for 2023 […]