U.S. Energy Information Administration said Tuesday retail price of gasoline is expected to be lower in 2025 and 2026 compared to 2024.  The estimates reflect the EIA forecast of lower crude oil prices.  EIA forecasts U.S. gasoline prices in 2025 will average $3.20 per gallon – a decrease of more than 10 cents per gallon […]

Texas Oil and Gas Association said last week that in addition to producing a record amount of state and local taxes and state royalties in fiscal year 2024, the U.S. leads the world in emissions reductions.  With Texas out front, emissions dropped between 2015 and 2022 by 42 percent in key production regions.  S&P Global […]

U.S. Energy Information Administration said this week the Permian Basin’s share of U.S. production will continue to increase and account for more than 50 percent of all U.S. crude oil production in 2026. In its short-term energy outlook Tuesday, EIA said U.S. crude oil production reached an annual record of 13.2 million barrels per day […]

Austin-based Atlas Energy Solutions said this week it made the first commercial delivery of sand off the Dune Express, its 42-mile conveyor system.  Early on Sunday morning, a commercial proppant delivery occurred at Atlas’ end-of-line facility in New Mexico after it was produced and placed on the Dune Express at Atlas’ Kermit facility. John Turner, […]

Rig counts declined in Texas and U.S. last week, according to Baker Hughes, but Permian Basin held steady with 304 active drilling rigs for the sixth straight week.  As of Jan. 10 there were 282 rigs in Texas (down 3 in past week, down 26 in past year) and 584 rigs in U.S. (down 5 […]

Seven of the 10 most prolific public oil and gas operators in the U.S. last year based on gross operated production are in Permian Basin, including top-ranked ExxonMobil with 1,960,962 boed.  Enverus said last week the Permian “is still the king and the most active region operated by the top 50 operators.”  Permian produced 81 […]

Fort Worth-based Kimbell Royalty Partners said last week it agreed to acquire mineral and royalty interests from a private seller in the Mabee Ranch in Midland Basin for $231 million.  The assets are in Midland (63 percent) and Andrews (37 percent) counties in west Texas.  As of Oct. 1, 2024, production was 1,842 boed (1,125 […]

Houston-based Plains All American Pipeline and Plains GP Holdings said last week they made three bolt-on acquisitions for a total of $670 million, including assets from Medallion Midstream in Delaware Basin.  Plains Oryx Permian Basin acquired Medallion’s crude oil gathering business from The Energy and Minerals Group for $160 million. Willie Chiang, chairman and CEO […]

According to a report this week from Enverus, ExxonMobil remains the leading operator of oil and gas drilling rigs in U.S. and Permian Basin.  As of Jan. 3, the latest weekly average in U.S. for ExxonMobil was 36.0 rigs followed by ConocoPhillips at 34.6, Occidental with 30.7, Mewbourne Oil with 25.1, EOG Resources with 23.3, […]

Texas Oil and Gas Association said Tuesday the state’s industry paid a record $27.3 billion in state and local taxes and state royalties in fiscal year 2024.  That’s about $1 billion above the previous record.  TxOGA president Todd Staples said, “Texas oil and natural gas make an outsized and unmatched contribution to the financial might […]