The Woodlands-based Ring Energy said this week four horizontal wells drilled in December and January in northwest shelf San Andres “on some of our highest rate-of-return acreage in Yoakum County” are expected to be completed and on production by the first week of March. Ring Energy said Monday it plans to drill 6-to-8 wells and […]

Fort Stockton-based MMEX Resources said Feb. 8 it is developing solar energy to distribute power to multiple planned projects in Texas – including its refinery in Pecos County – producing hydrogen and ultra-low sulfur clean fuels combined with carbon dioxide capture. The complex being developed in Pecos County originally was to be a distillation unit […]

Port of Corpus Christi said it ended 2020 with record tonnage thanks primarily to 65 percent increase in crude oil shipments compared to 2019. The port set a new annual record of 159.7 million tons – 31 percent increase over 2019. The port also had a 26 percent increase in LNG shipments. Port officials added, […]

Texas Petro Index declined for the 22nd consecutive month in December 2020 to 134.3 from 137.0 in November 2020 and 193.2 in December 2019 (down 30.5 percent), according to Texas Alliance of Energy Producers. The index is a statewide measure developed by petroleum economist Karr Ingham that started at 100.0 in January 1995. Ingham said, […]

Reuters said last week New Mexico officials are asking the Biden administration to resolve confusion in the state’s oil and gas industry on the 60-day pause for allowing state-level staff to issue approvals for new drilling on federal land. Sarah Cottrell Propst, secretary of the state’s energy, minerals and natural resources department, asked the U.S. […]

Permian Basin is above 200 in count of active oil and gas drilling rigs for the first time since May 2020. Houston-based Baker Hughes said as of Feb. 12 there were 203 rigs in Permian Basin (up 5 in previous week). The latest report above 200 rigs was May 1, 2020. Also as of Feb. […]

Texas Methane and Flaring Coalition said Wednesday in Austin it supports a goal of ending routine flaring by 2030. The coalition includes seven trade groups, including Permian Basin Petroleum Association, and more than 40 Texas operators. It was formed in 2019 “to develop industry-led solutions designed to mitigate and reduce methane emissions and flaring.” PBPA […]

ExxonMobil said last week it created a new business, ExxonMobil Low Carbon Solutions, to commercialize its low-carbon technology. The new business will focus on carbon capture and storage and hydrogen. ExxonMobil Low Carbon Solutions plans more than 20 new carbon capture and storage projects with $3 billion in investments through 2025. The projects include U.S. […]

Port of Houston received a grant of $19.5 million from U.S. Army Corps of Engineers to begin an expansion project. The project will widen and deepen the channel for safer and more efficient navigation of vessels calling the port’s eight public terminals and more than 200 private facilities. Port of Houston is the nation’s No. […]

Improving oil prices continue to spark a growing rig count as Permian Basin added 6 rigs in the previous week for 198 actively at work as of Feb. 5, according to Baker Hughes. Permian drilling rig count is up 13 percent since starting 2020 with 175 rigs. Baker Hughes said there are 189 rigs in […]