After 23 months of declines, the Texas Petro Index from Texas Alliance of Energy Producers recorded a modest increase in February to 138.8 from 131.5 in January. The alliance said it marked “possible ending of contraction that began pre-covid, but then worsened in 2020 as a result of covid and the corresponding economic upheaval. Even […]

Houston-based Max Midstream said April 6 it plans to ship its first cargo to Europe from a new crude export terminal at Port of Calhoun in May. Todd Edwards, president, said Max Midstream will send a test shipment in late April and then exports of Eagle Ford oil will begin in May. The company said, […]

Drilling activity for crude oil and natural gas in Permian Basin, Texas and New Mexico was unchanged in the past week, according to the April 9 report from Baker Hughes. Permian has 224 rigs (175 to start 2021), Texas has 209 rigs (161 to start 2021), and New Mexico has 70 rigs (65 to start […]

Houston-based Halliburton said March 30 in the Permian Basin it successfully delivered real-time control of fracture placement while pumping on a multi-well pad using its SmartFleet intelligent fracturing system. An industry first, according to Halliburton, SmartFleet “applies automation enabled by subsurface measurements and real-time visualization to intelligently adapt and respond to reservoir behavior, driving real-time […]

Oslo-based research firm Rystad said April 9 hydraulic fracturing in North America has recovered to almost pre-pandemic levels after the count of started frac jobs reached a 12-month high last month. Rystad counted 1,064 started frac operations in North America in March. The report said completed wells in Permian Basin during 2021Q1 exceeded required output […]

Tulsa-based Argonaut Private Equity said March 22 it acquired assets of Pioneer Well Services, subsidiary of Pioneer Natural Resources. Argonaut rebranded the operation in Permian Basin as American Well Services; it provides well service rigs for workover or completions and wellsite support, including fluid transfer, hot oiling, frac tank rental and wellsite construction. Assets include […]

Data from Texas Workforce Commission and Texas Oil and Gas Association show that the state’s oil exploration and production industry added 2,300 jobs in February and 7,400 jobs since September. That brings the total drilling and oil extraction employment in Texas to 164,900 jobs. Houston Chronicle said it’s “a sign that the industry is recovering […]

Houston-based Evolution Petroleum said March 30 it agreed to acquire non-operated oil and gas assets in Barnett Shale from TG Barnett Resources, wholly owned subsidiary of Tokyo Gas America, for $23.25 million. The assets include 23,000 net acres held by production in nine counties in north Texas with current net production of 22 MMcfd of […]

Permian Basin added crude oil and natural gas drilling rigs for the 10th straight week, and U.S. added 13 rigs in the past week for its biggest gain since January 2020, according to the April 1 report from Baker Hughes. Permian has 224 rigs (up 3 in past week), Texas has 209 rigs (up 4 […]

The Woodlands-based Earthstone Energy said April 1 it agreed to two deals to acquire privately held, operated assets in Midland Basin from Tracker Resource Development and an affiliate and also from affiliates of Sequel Energy Group. Aggregate purchase price is about $126.5 million. Assets include low-cost, stable, producing assets in complementary location to Earthstone operated […]