U.S. Energy Information Administration said rapid declines in production from horizontal wells require more drilling to sustain production.  The EIA reported, “As U.S. crude oil and natural gas production have increased, so has the volume of production declines from existing wells.  To offset the increasing declines, operators today must bring on new wells to sustain […]

A new report from a task force of the National Association of Regulatory Utility Commissioners said the U.S. needs additional natural gas pipeline infrastructure and storage to meet the growing demand for energy.  Some officials called for the formation of a gas reliability organization like the North American Electric Reliability Corp. Recommendations from the task […]

Houston-based Occidental Petroleum said last week its U.S. production growth in third quarter came predominately from Permian Basin.  Oil production in 3Q in Permian increased to 422,000 barrels per day (with a record of 800,000 boed).  Helping drive the Permian results was a 14 percent improvement from a year ago in shale well costs. Occidental’s […]

Baker Hughes reported increased rig counts in Permian Basin, New Mexico and U.S. in its weekly report of Nov. 14.  Texas’ count was unchanged in the past week with 234 rigs (down 45 or 16.1 percent from 279 in the past year).  Texas’ flat count stopped a streak of six straight weeks of declining rig […]

U.S. Energy Information Administration said three regions in the U.S. are among the top 8 natural gas-producing areas in the world when ranked independently against other gas-producing countries.  U.S. produced 104 billion cubic feet per day of natural gas in 2023 (75 percent more than runner-up Russia), the most recent year for which EIA has […]

Google and its parent company Alphabet said Friday they will build three new data centers in west Texas in Armstrong and Haskell counties.  One of the two data centers in Haskell County near Abilene will be paired with a new solar and battery storage plant to minimize the center’s impact on Texas’ electric grid.  Texas […]

U.S. Environmental Protection Agency last week granted primary regulatory authority to Texas for its carbon dioxide injection wells.  The decision grants primacy for Class VI underground injection control to the state.  Railroad Commission of Texas now has primary enforcement authority for Class VI wells for the injection of CO2 into deep underground rock formations for […]

Houston-based Ranger Energy Services said last week it acquired American Well Services from Argonaut Private Equity to expand its Permian Basin footprint.  American Well Services is a well services provider focused in Permian Basin.  The $90.5 million acquisition expands scale for Ranger by increasing its rig count about 25 percent and confirming its position as […]

Houston-based Plains All American Pipeline completed the previously announced acquisition of a 55 percent equity interest in EPIC Crude Holdings on Oct. 31, and effective Nov. 1 it completed acquisition of the remaining 45 percent operated equity interest in EPIC.  The earlier 55 percent interest was acquired from Midland’s Diamondback Energy and Kinetik Holdings.  The […]

Houston-based ConocoPhillips said last week its third quarter production increased about 4 percent compared to 2024Q3, and its fullyear 2025 production forecast of 2.375 million boed is above prior guidance.  Production for 3Q averaged 2.399 million boed – up 482,000 boed from a year earlier driven in part by its acquisition of Marathon Oil.  Lower […]