San Ramon-based Chevron said its company’s net oil-equivalent production for third quarter increased 7 percent from last year as U.S. and Permian Basin production set quarterly records.  U.S. net boed was up 198,000 barrels per day to 1.605 million boed in 2024Q3 from 1.407 million boed from 2023Q3.  Chevron said the U.S. production record was […]

U.S. Energy Information Agency said last week crude oil production in U.S. increased to a record 13.401 million barrels per day in August.  That includes a record 5.818 million b/d in Texas – 1.7 percent above the previous month.  And EIA said Oct. 31 production in New Mexico also was a record of 2.092 million […]

Texas Workforce Commission and Texas Oil and Gas Association recently said the oil and gas industry’s upstream sector grew by 1,700 jobs in September.  There have been 14,300 upstream jobs added to date this year.  Since its low point in September 2020 during the covid19 pandemic, the industry has added or recovered 53,700 upstream jobs […]

Permian Basin and Texas reported declining rig counts while U.S. and New Mexico reported stable counts in Baker Hughes’ weekly report of Nov. 1.  There were 303 rigs in Permian Basin (down from 304 week ago and 310 year ago) and 281 in Texas (down from 283 week ago and 304 year ago).  New Mexico […]

Tulsa-based Alliance Resource Partners said last week it closed acquisitions of $10.5 million in Permian Basin in third quarter.  Joseph W. Craft III, chairman, president and CEO, said Oct. 28, the company realized another solid quarter of year-over-year growth in its oil and gas royalties business.  “We continue to reap the benefits of a minerals […]

Houston-based ConocoPhillips said last week its record lower 48 production of 1,147,000 boed in third quarter included 781,000 boed from Permian Basin.  Total company 3Q production was 1,917,000 boed.  The lower 48 total also included 246,000 boed from Eagle Ford and 107,000 boed from Bakken.  Ryan Lance, chairman and CEO, said Oct. 31, “ConocoPhillips continues […]

Midland-based Diamondback Energy will trade certain of its Delaware Basin assets and pay about $238 million in cash to TRP Energy in exchange for TRP’s Midland Basin assets.  TRP’s Midland Basin assets are comprised of 15,000 net acres in Reagan and Upton countries with 55 remaining undeveloped operated locations – the majority of which immediately […]

Houston-based Enterprise Products Partners said this week it completed its previously announced acquisition of Pinon Midstream, formerly a portfolio company of Black Bay Energy Capital.  Enterprise purchased Pinon for $950 million cash in a debt-free transaction.  The acquired assets, which include natural gas gathering and treating services, expand Enterprise’s footprint in the eastern flank of […]

Midland-based Warrior Technologies said last week it acquired Lobo Trucking to expand its footprint into the Delaware Basin of west Texas and southeast New Mexico.  H.H. (Tripp) Wommack III, president and CEO, said, “The motivation for Warrior to buy Lobo was we wanted to expand into the Delaware Basin.” Wommack said the acquisition gives Warrior […]

Dallas-based Spicewood Mineral Partners said last week its recent acquisitions of tier 1 mineral assets in Permian Basin reflect “a strategic blend of early-life and more mature assets.”  John Golden, co-founder and partner, announced on Oct. 22 a series of five deals in Delaware and Midland basins, including assets in Reeves and Ward counties.  They […]