Testimony at last week’s hearing in Odessa about a proposed carbon dioxide injection site in Ector County included local leaders and executives promising cleaner air and more jobs and environmental activists warning of seismic activity and water contamination.  About 15 people testified at the hearing Oct. 3 in Odessa conducted by U.S. Environmental Protection Agency […]

U.S. Energy Information Administration reported recently that U.S. is the world’s largest exporter of motor gasoline (finished gasoline plus gasoline blending components) by supplying more than 16 percent of total global exports. U.S. motor gasoline exports in 2023 averaged 900,000 barrels per day, equivalent to about 10 percent of domestic consumption – enough to fill […]

Houston-based private equity firm Post Oak Energy Capital said last week it completed an equity commitment to newly formed Ichthys Energy Partners, a Dallas-based exploration and production firm.  Ichthys will seek to execute a growth strategy focused on operated and non-operated leasehold acquisitions and strategic partnerships in Permian Basin. Michael Poynter, CEO of Ichthys, said […]

Dallas-based Producers Midstream II, portfolio company of Tailwater Capital, said last week it is constructing a new gathering, treating and processing system in Lea County, N.M., in the core of the Delaware Basin.  The initial build-out will use existing plant, treating and compression assets owned by the company.  The new system is expected to begin […]

Texas comptroller Glen Hegar recently announced the state’s final tax revenues for fiscal year 2024.  It included about $8.4 billion in production taxes from the oil and gas industry that will be used to fund major parts of the state budget.  A quarter of this revenue is earmarked for public education which this year will […]

The counts of active drilling rigs from Baker Hughes declined for the third straight week in U.S. and second straight week in Permian Basin.  But the count in Texas posted its third straight gain.  In the weekly report of Oct. 4, there were 304 rigs in Permian Basin (down 2 from last week, down 5 […]

Railroad Commission of Texas has extended the comment period for proposed new rules for the agency’s regulation of waste management facilities.  It’s the first overhaul of the commission’s waste management rules in four decades.  The deadline was extended to Oct. 15 from the original deadline of Sept. 30. The commission said groundwater protection is a […]

Dallas-based Texas Pacific Land Corp. said last week it acquired additional oil and natural gas mineral and royalty interests in Permian Basin for $286 million.  The interests span across about 7,490 net royalty acres primarily in Martin (2,220 acres) and Midland (2,080 acres) counties.  TPLC said more than 80 percent of the acquired assets are […]

U.S. Environmental Protection Agency is accepting public comments on Stratos, a proposed project in Ector County southwest of Odessa near Penwell to capture and store an estimated 722,000 metric tons of carbon dioxide in three injection wells 4,400 feet underground.  The project of Houston-based Occidental Petroleum Corp., under review for two years, would be the […]

Houston-based HNR Acquisition Corp. said recently it is implementing “improved automation techniques that will lead to operational efficiencies and enhanced oil production.”  HNR said Sept. 12 it contracted with a software provider to test a state-of-the-art application that will allow lease operators in the field to use a single app rather than multiple apps “which […]