Pin Oak Corpus Christi received the first vessel April 15 at its newly commissioned oil dock at Port of Corpus Christi. The new dock can accommodate fully-laden bulk liquid tankers up to Suez-max class with loading rates of more than 40,000 barrels per hour. Construction of the new dock was a joint effort of Port […]
State Land Office in New Mexico to allow pause in energy production
State Land Office in New Mexico said last week it will allow crude oil and natural gas producers to temporarily stop production on state lands without penalty as the coronavirus pandemic and global price conflict continue. Ryan Flynn, executive director of New Mexico Oil and Gas Association, said, “The emergency rule to allow lessees to […]
Permian Basin idles 32 percent of rigs in past five weeks
In the past five weeks, according to Baker Hughes’ reports, there have been 135 rigs idled in Permian Basin (down 32.3 percent from six weeks earlier March 13), 146 in Texas (down 35.8 percent), 33 in New Mexico (down 28.2 percent) and 263 in U.S. (down 33.2 percent). As of April 17 there were 283 […]
Commission again delays proration vote, next meeting May 5
Railroad Commission of Texas again delayed taking action on proration of production for the state’s oil and gas industry at a meeting Tuesday. Ryan Sitton, reportedly the only commissioner who said he was ready to vote, proposed a state-mandated cut of 20 percent or about one million barrels in cooperation with other states and nations. […]
Rystad report shows record decline of fracturing operation starts
Rystad Energy said Wednesday the total number of started fracturing operations is expected to fall below 300 wells in April (about 200 in Permian Basin and less than 50 each in Eagle Ford and Bakken). That’s a decline of 62.8 percent in started fracturing operations between February and April 2020 “as the majority of public […]
ExxonMobil reduces capex; ‘largest share of reduction in Permian Basin’
Irving-based ExxonMobil said April 7 it expects capital expenses for 2020 to be $23 billion – down about 30 percent from previously announced $33 billion. Exxon said, “The largest share of the capital spending reduction will be in the Permian Basin, where short-cycle investments can be more readily adjusted to respond to market conditions while […]
Falling rig count: Down 9.97% in Permian, 10.7% in Texas, 9.3% in U.S.
Baker Hughes’ count of active drilling rigs in U.S. declined by 62 rigs in the past week (9.3 percent) to 602 as of April 9. That’s the lowest since there were 597 rigs in December 2016 (664 a week ago, 1,022 a year ago, 1,083 to start 2019). Also in the past week, Permian Basin’s […]
Double Eagle, Parsley, Concho file drilling permits in Midland County
About 40 oil and gas companies filed 110 drilling permits with Railroad Commission of Texas in the first week of April, according to Houston Chronicle, the state’s lowest weekly total of the year. Almost 20 percent of the permits were for drilling in Midland County. Double Eagle Development of Fort Worth filed 10 permits for […]
ExxonMobil conducts methane field trials in Permian Basin
Irving-based ExxonMobil said April 9 it is conducting field trials at nearly 1,000 sites in Permian Basin of eight emerging methane detection technologies, including satellite and aerial surveillance, to further reduce methane emissions. The tests in Texas and New Mexico are evaluating effectiveness and scalability of next-generation detection technologies, including drones, planes, helicopters, and ground-based […]
Double E gas pipeline receives favorable assessment from FERC
Double E pipeline, designed to deliver natural gas from northern Delaware Basin to Waha hub in west Texas, recently received a favorable environmental assessment from Federal Energy Regulatory Commission. FERC said the project will not significantly affect the human environment. The 135-mile pipeline is jointly owned by subsidiaries of Summit Midstream Partners (70 percent) and […]
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