Permian Basin has added 28 rigs to date in 2021Q4 after adding 46 rigs in Q1, 15 rigs in Q2 and 24 rigs in Q3.  Baker Hughes said as of Dec. 17 there were 288 rigs in Permian Basin (up 2 in past week and 114 in past year), 275 rigs in Texas (up 3 […]

After four additional earthquakes in northwest Midland County last week, KOSA-TV and Midland Reporter Telegram reported this week the Railroad Commission of Texas suspended indefinitely all deep injection of produced water by oil and gas operators effective Dec. 31.  Operators of disposal wells in Gardendale seismic response area will not be permitted to inject below […]

The Woodlands-based Earthstone Energy said last week it reached agreement with Fort Worth-based Chisholm Energy to acquire 36,100 net acres (92 percent operated) in Delaware Basin in Eddy and Lea counties in New Mexico.  Purchase price is $604 million in cash and stock ($340 million cash at closing in 2022Q1).  Robert J. Anderson, president and […]

U.S. Energy Information Agency expects another record month for crude oil production in Permian Basin.  In its Dec. 13 drilling productivity report, EIA forecast production of 5.031 million barrels of crude oil per day in January 2022 – the second straight month for a record forecast and the first monthly forecast of at least 5 […]

Houston-based Cimarron, global provider of environmental and emissions control equipment and services and parent company of Midland’s Hy-Bon Engineering, is one of 12 companies selected by U.S. Department of Energy to participate in its emissions reduction program known as REMEDY.  Cimarron will receive a grant of $1 million for its hybrid torch design coupled with […]

Baker Hughes said Permian Basin extended its streak of no declining rig counts to 24 weeks as of Dec. 10.  Permian Basin added 3 rigs in the previous week for a new total of 286 (168 a year ago).  The basin last had a declining rig count June 25.  Also, there are 272 rigs in […]

Houston-based ConocoPhillips said last week its annual production for 2022 is expected to be 1.8 million boed, including 200,000 boed from its recent acquisition of Shell properties in Permian Basin.  ConocoPhillips expects companywide capital expenditures of $7.2 billion next year (up from $5.3 billion forecast for 2021), including $700 million in Permian Basin.  The 2022 […]

ExxonMobil and San Francisco-based climate tech firm Scepter said Monday they will work together to deploy advanced satellite technology and proprietary data-processing platforms to detect methane emissions.  In phase one, they will design and optimize a plan for satellite placement and coverage to capture methane emissions from ExxonMobil’s operations in Permian Basin.  Scepter will deploy […]

Bloomberg reported this week that the Committee on Science, Space and Technology in the U.S. House of Representatives sent letters to 10 oil companies operating in Permian Basin asking them to disclose and stop leaks of methane.  Among the companies were Pioneer Natural Resources, ExxonMobil, Occidental Petroleum, ConocoPhillips and Chevron.  Rep. Eddie Bernice Johnson, D-Texas, […]

New Mexico led major producing states with the addition of 5 oil and gas drilling rigs in the past week, according to a weekly report Dec. 3 from Baker Hughes.  New Mexico has 88 active rigs – up 47 percent from a 2021 low of 60 in March.  Baker Hughes said there also are 283 […]