Addison-based King Operating Corp. said recently it added two developments in Permian Basin.  King’s partnership assets include the ConocoPhillips project, a three-well package of wells completed in first quarter in Delaware Basin with 16 percent interest.  The latest addition is Phantom Hill project in eastern shelf of Permian, another three-well package with 45 percent interest […]

Houston-based Pinon Midstream said recently it received approval from U.S. Environmental Protection Agency for its monitoring, reporting and verification plan for carbon dioxide sequestration at its two acid gas injection wells in Delaware Basin.  The two AGI wells are located at Dark Horse gas treatment plant in Lea County, the largest AGI system currently permitted […]

Hurricane Beryl had minimal effects on the oil and gas industry on the U.S. Gulf Coast, according to Oil & Gas Journal. Marathon Galveston Bay refinery advised the City of Texas City that it had to flare because of a brief power disruption during the storm, but no other issues were reported.  ExxonMobil made operational […]

ExxonMobil leads Permian Basin operators in working rigs in the basin as of June 28, according to Enverus.  Other basin leaders include Occidental Petroleum with 22, Mewbourne Oil with 19, and ConocoPhillips, EOC Resources and Devon Energy each with 16.  Chevron and Permian Resources have 12 rigs each, and Diamondback and Endeavor have 11 each. […]

Texas Pacific Water Resources recently received the annual Bruno Hanson/Midland College Environmental Excellence Award.  The award was presented at a Permian Basin environmental regulatory seminar for Texas Pacific’s research into treating and recycling produced water.  Gretchen Hanson Bakke, member of the award committee, told Midland Reporter Telegram, “The committee selected Texas Pacific Water Resources for […]

For the first time since May 17, U.S. and Texas reported increases in count of active drilling rigs.  Baker Hughes said in its weekly report of July 5 there were 585 rigs in U.S. (up 4 in past week, down 95 in past year) and 278 rigs in Texas (up 1 in past week, down […]

U.S. Energy Information Administration said this week U.S. weekly average gasoline prices have declined 19 cents per gallon since a 2024 high in April. Prices fell to $3.48 per gallon July 1 – 5 cents per gallon less than a year ago. EIA said, “Increasing gasoline inventories, relatively weak demand and oil prices below recent […]

Texas LNG Brownsville is nearing sellout of its supplies from its LNG plant being developed at the Port of Brownsville, according to Brendon Duval, co-president. Duval said Tuesday the company signed a non-binding agreement with an unnamed company for long-term supply of 500,000 tonnes per year of LNG from its Brownsville plant (4 million tpy). […]

Tom Long, co-CEO and CFO for San Antonio-based Energy Transfer Partners, said recently his company could have the next pipeline from west Texas after this year’s launch of Matterhorn Express. Long said the industry has “a strong interest in another pipeline probably by mid- to late-2026. We are very optimistic that we will be the […]

As Double Eagle IV brings online new wells and ramps up production in Permian Basin, Hart Energy recently asked: Is the Fort Worth-based company the most coveted private equity-backed exploration and production company in the Permian Basin? Double Eagle IV is led by co-CEOs Cody Campbell and John Sellers, who in 2021 guided Double Eagle […]