Fort Worth-based Kimbell Royalty Partners said Nov. 9 it agreed to purchase mineral and royalty interests across multiple basins for $57 million.  The assets will provide an estimated net production of 700 boed (34 percent oil) from more than 26,000 gross wells (39 percent in Permian Basin, 31 percent in Mid-Continent and 14 percent in […]

Houston-based Targa Resources said Nov. 4 it gathered and processed record volumes in Permian Basin in 2021Q3 driven by producer activity and the September startup of its relocated Heim cryogenic gas plant (200 million cfd).  Permian field gas inlet volumes were 2.95 billion cfd in 2021Q3 – up 15 percent from 2020Q3. The Heim plant […]

Crude oil production in Permian Basin is forecast by U.S. Energy Information Administration to increase to a record 4.95 million barrels per day in December, according to Monday’s drilling productivity report.  EIA said Permian oil production in December is expected to be 4,953,000 b/d – up from 4,886,000 b/d in November – to surpass the […]

Midland-based Colgate Energy said this week it is continuing expansion in Delaware Basin by agreeing to purchase from an undisclosed seller about 22,000 net acres in Eddy and Lea counties in New Mexico for $190 million.  The majority of the assets directly offset Colgate’s legacy Parkway operating area with current average net daily production of […]

Rusty Smith, graduate of Texas A&M and Texas Tech universities, has been named the first program director of Texas Produced Water Consortium.  The consortium was created in the 2021 session of the Texas legislature to consider new methods for beneficial reuse of produced water.  Smith previously was director of the committee on agriculture, water and […]

Industrial facilities in Texas released more than 46 million pounds of illegal air pollution in 2020 – a decrease of 54 percent from 2019 and significantly below the average of 72 million pounds over the last five years.  The analysis of the unauthorized, unpermitted emissions self-reported to Texas Commission on Environmental Quality was conducted by […]

Permian Basin, Texas and U.S. continue to add drilling rigs.  As of Nov. 5, according to Baker Hughes, there were 271 rigs in Permian Basin (up 3 in past week, up 124 in past year), 254 in Texas (up 4 in past week, up 115 in past year), 86 in New Mexico (down 1 in […]

Dallas-based HollyFrontier Corp. said last week it reduced capital spending forecasts for the remainder of 2021.  Mike Jennings, president and CEO, said the company’s recent turnaround at its Tulsa refinery and smaller scope of work at a turnaround in progress at its Navajo refinery (100,000 b/d) near Artesia, N.M., in Eddy County have enabled it […]

Officials of Pioneer Natural Resources said the company’s Delaware Basin assets divested last week to Continental Resources have a higher operating cost than their Midland Basin assets.  Pioneer sold for $3.25 million all its assets in Delaware Basin (92,000 net acres with net production of 50,000 boed – 70 percent oil) acquired in October 2020 […]

Fort Worth-based Brazos Midstream said Nov. 3 it acquired assets in Delaware and Midland basins of Permian Basin in two transactions.  Brazos Delaware acquired the Pecos gas gathering system from Diamondback Energy and midstream affiliate Rattler Midstream.  And newly formed Brazos Midland also acquired Diamondback’s Mustang Springs gas gathering system. Brazos has operated the Pecos […]