Houston-based Occidental Petroleum said recently its forecast for 2024 fullyear production remains 1,290,000 to 1,340,000 boed.  In its second quarter report, Occidental said its 2Q production was 1,258,000 boed – up from 1,172,000 boed in 1Q.  Oxy’s 2Q production in Permian Basin (587,000 boed) and Gulf of Mexico both exceeded midpoint of guidance.  U.S. oil […]

T. Grant Johnson of Houston this week was named chairman of the board of directors for Texas Independent Producers and Royalty Owners Association. Johnson has worked more than 40 years in the energy industry and most recently served as president of Lone Star Production Co., a privately-owned corporation founded in 1991 to conduct exploration and […]

Houston-based H2O Midstream and private equity firm EIV Capital said recently they agreed for H2O Midstream to be acquired by Delek Logistics Partners.  H2O Midstream provides gathering, transportation, recycling, storage and disposal solutions for produced water in Howard County.  EIV Capital and H2O Midstream partnered in 2016 to pursue produced water midstream opportunities in Permian […]

Houston-based Enterprise Products Partners said this week an affiliate is acquiring Pinon Midstream in a debt-free transaction for $950 million cash.  Pinon Midstream provides natural gas gathering and treating services in the core of the eastern Delaware Basin in southeastern New Mexico and west Texas.  Pinon’s assets include 50 miles of natural gas gathering and […]

ExxonMobil is the Permian Basin leader in oil and gas drilling rigs as of Aug. 9, according to Enverus, with 37 working rigs.  Other leaders include Occidental with 21 rigs, EOG Resources, Mewbourne Oil and Devon Energy with 16 each, ConocoPhillips with 15, Chevron and Permian Resources with 12 each, and Diamondback Energy and Endeavor […]

After a week of gains, Permian Basin, Texas and U.S. returned to declining counts of drilling rigs last week, according to the weekly report of Aug. 16 from Baker Hughes.  There were 303 rigs in Permian Basin (down 1 from 304 previous week, down 24 from 327 year ago), 273 in Texas (down 3 from […]

Houston-based Trace Midstream Partners II said recently it reached agreement with LM Energy Delaware to acquire its natural gas gathering and transportation assets in northern Delaware Basin.  The system in Eddy and Lea counties in New Mexico consists of high- and low-pressure gas pipelines with associated compression, dehydration, condensate handling and vapor recovery capabilities. LM […]

Midland wildcatter and military veteran Autry Carl Stephens, founder of Endeavor Energy Resources and recipient of the Top Hand Award from Permian Basin Petroleum Association, died at the age of 86.  Endeavor said its board chairman died Aug. 16 and will be succeeded as chairman by his daughter, Lyndal Stephens Greth, an attorney who served […]

Fort Worth-based Brazos Midstream Holdings III said last week it completed construction of a cryogenic gas processing plant in Martin County.  Sundance I is scheduled to start commercial service in October with capacity of 200 million cfd.  Brazos said Aug. 15 it also is in final stages of constructing about 175 miles of high-pressure gas-gathering […]

Private equity investment firm Bernhard Capital Partners said last week it agreed to acquire New Mexico Gas Co., wholly owned operating company of Halifax-based Emera, in a transaction valued at $1.252 billion. The deal includes $500 million of debt. Scott Balfour, president and CEO of Emera, said Aug. 6, “New Mexico Gas is a strong […]