Houston- and New York City-based Glenfarne Group said this week it secured new capital to continue development and early construction of the proposed Texas LNG export terminal on 625 acres at Port of Brownsville.  HPS Investment Partners, part of Blackrock, agreed to an investment of $500 million.  It’s one of the final steps required for […]

Multiple sources are reporting that the Dean formation in west Texas is “emerging as the Midland Basin’s next zone to watch.”  Dean is a prolific, oil-rich geological layer between the shallower Spraberry formation and the deeper Wolfcamp shale.  Historically, it was drilled vertically in the Ackerly-Dean field in Dawson County, but now modern horizontal drilling […]

After three months of increases, jobs in the energy services workforce in both U.S. and Texas declined in June, according to data from Houston-based Energy Workforce and Technology Council.  Despite the modest declines, the council said the workforce “remained stable through the first half of 2026.”  Data were compiled from the Bureau of Labor Statistics […]

The difference between the U.S. and other major producers of crude oil widened in 2025, according to International Energy Statistics database and U.S. Energy Information Administration analysis.  EIA said July 9 that Russian output last year was mostly unchanged (9.9 million b/d), and Saudi Arabia reported modest growth (9.6 million b/d) to trail U.S. (13.6 […]

Permian Basin reported a decline in its count of active drilling rigs last week, but Texas and U.S. continued to add rigs.  Baker Hughes in its weekly report of July 10 said there were 256 rigs in Permian Basin – down 5 in the past week and down 9 in the past year.  Also, there […]

U.S. remained the world’s largest crude oil producer in 2025, according to the International Energy Statistics database.  That extends a streak that started in 2018 when the U.S. overtook Russia to become the world’s leading producer.  Crude oil production in the U.S., including lease condensate, averaged a record 13.6 million barrels per day in 2025 […]

U.S. petroleum exports reached a record level in April as disruptions to international crude oil and refined product flows through the Strait of Hormuz increased global demand for U.S. exports.  U.S. Energy Information Administration said Wednesday exports increased to 13.6 million barrels per day in April – an increase of 15 percent over the previous […]

U.S. Government Accountability Office recently published its review of management of the nation’s strategic petroleum reserve as requested by the Department of Energy.  GAO concluded that Congress hasn’t specified priorities or identified a target size for the SPR, and the department hasn’t completed a long-term plan to inform operational and investment decisions.  The GAO report […]

Miami-based I Squared Capital, independent global infrastructure investor, said this week it agreed to acquire Milestone Environmental from SK Capital Partners.  Milestone, independent environmental infrastructure company, provides waste management solutions for the industrial and energy sectors, including Delaware and Midland basins in west Texas.  Terms of the transaction were not announced. Houston-based Milestone owns and […]

Permian Basin again provided only one of the top 10 private oil and gas producers in lower 48, according to Enverus Intelligence Research.  In a report released last week, Enverus said the top five in the 2025 list remained the same as the previous year.  Rockies operator Continental Resources again is first followed by Mewbourne […]