Dallas-based Matador Resources last week raised guidance for 2024 fullyear production by 6 percent and said it expects to produce more than 200,000 boed in 2025.  In third quarter Matador closed its acquisition of Ameredev, and production from the first 7 wells turned to sales since the effective date of the deal exceeded expectations by […]

U.S. natural gas production from shale and tight formations, which accounts for 79 percent of dry natural gas production, decreased slightly in the first nine months of 2024 compared with the same period in 2023. If this trend holds for the remainder of 2024, U.S. Energy Information Administration said it would mark the first annual […]

Tulsa-based ONEOK has completed acquisition of the entire interest held by Global Infrastructure Partners in EnLink Midstream for total cash consideration of about $3.3 billion.  The acquisition consists of 43 percent of EnLink’s outstanding common units ($14.90 per unit) and 100 percent interest in the managing member for $300 million. Pierce H. Norton II, president […]

Port of Corpus Christi and its customers moved 53 million tons through its ship channel in third quarter – a new quarterly record driven by increases in shipments of crude oil and dry bulk.  Port officials said last week the 53 million tons moved in 2024Q3 was a 2 percent increase from the same period […]

Austin-based Atlas Energy Solutions recently announced the commissioning of its Dune Express, a 42-mile electric conveyor system “that is expected to transform proppant logistics in the Permian Basin.”  Atlas said Oct. 10, “The system remains on time and on budget with the commercial transportation of proppant into the Delaware Basin scheduled to begin in late […]

Rig counts in Permian Basin and New Mexico remained flat in Baker Hughes’ latest weekly report while counts in Texas and U.S. declined.  Baker Hughes said as of Oct. 18 there were 304 rigs in Perman Basin for the third straight week (down 8 from 312 year ago) and 99 in New Mexico for the […]

Dallas-based Axis Energy Services and Brigade Energy Services said recently they are merging to “form the nation’s largest and most innovative well servicing company with the best-trained workforce.”  The merger “combines two high-growth organizations that have pioneered new ways to create value for an oil and natural gas industry seeking to become more efficient, agile […]

Houston-based Kinder Morgan said last week it made final investment decision on its $455 million expansion of Gulf Coast Express pipeline to enable customers to move substantial additional natural gas from Permian Basin.  Kim Dang, CEO, said Oct. 16 the expansion “will increase natural gas deliveries by 570 million cubic feet per day from the […]

Houston-based oil and gas major Chevron said Monday its approach to developing the New Mexico side of the Permian Basin to 1 million boed by 2025 aligns with the state’s regulatory emphasis on safety and the environment.  The company said it is using electrical compressors where possible rather than natural gas-fired compressors to power its […]

Calgary-based Enverus Intelligence Research said Wednesday the pace of M&A (mergers and acquisitions) upstream activity in third quarter slowed significantly “following 12 months of heightened consolidation in oil and gas.”  The $12 billion in announced deals in 2024Q3 was the lowest quarterly total since the first quarter of 2023.  Enverus attributed the decline “to a […]