Houston-based Battalion Oil said recently it agreed to sell substantially all its oil and gas properties and related assets in West Quito Draw area in southern Delaware Basin to MCM Delaware Resources for $62.59 million.  The package includes 6,207 net acres and 8 million barrels of oil equivalent in Ward County representing 12.4 percent of […]

West Texas Congressman August Pfluger, R-San Angelo, last week called for Congress in 2026 to prioritize the appropriation of funds to fully replenish the nation’s strategic petroleum reserve.  Pfluger, writing in the Odessa American, said the SPR is “the cornerstone of American energy security and treating it as the proactive national security asset it was […]

In its final weekly report of 2025, Baker Hughes said Permian Basin, Texas, New Mexico and U.S. each was down in its count of active drilling rigs for the year.  As of Dec. 30, there were 247 rigs in Permian Basin (down 18.75 percent from 304 to start the year), 231 in Texas (down 18.66 […]

Kermit-based Wallstreet Sand said last week it launched a dry sand operation from its facility in Kermit.  The firm said it marked “a major milestone in the company’s continued growth and expansion across the Permian Basin.”  The company’s new dry sand operation is supported by recent investments in equipment, infrastructure and workforce development. The in-basin […]

New Mexico now ranks second among states with $64 billion in investment trusts thanks to a nearly five-fold surge in oil and gas production revenue from federal and state lands since 2017.  Albuquerque Journal said production has “delivered a financial windfall for state government, helping fund higher teacher salaries, tuition-free college, universal free school meals […]

Services firm Baker Hughes, in its latest rig counts released Dec. 23 before the holidays, reported small increases in active drilling rigs in Permian Basin, Texas and U.S.  There were 247 rigs in Permian Basin (up 1 in past week, down 57 or 18.75 percent from 304 in past year), 232 rigs in Texas (up […]

Dallas-based Energy Transfer said recently it will increase transportation capacity of Transwestern Pipeline’s Desert Southwest expansion project from Permian Basin because of additional customer demand.  The announcement said, “The continued population growth and positive economic momentum throughout Arizona and New Mexico will require efficient, reliable energy sources.” The project’s mainline pipeline diameter will be upsized […]

Energy Transfer said recently it is suspending development of its 16.45 million tonne/year Lake Charles LNG plant to allocate capital to its backlog of natural gas pipeline projects that the company believes provides superior risk-return profiles. Among these projects is subsidiary Transwestern Pipeline’s planned Desert Southwest expansion. Initially proposed to move 1.5 Bcfd of gas […]

A decline of 8 oil-directed drilling rigs in the U.S. last week led to a second straight week of falling count of active rigs.  In the weekly report of Dec. 19 from Baker Hughes, U.S. reported 542 drilling rigs (down 6 in the past week from 548 and down 47 or 7.98 percent in the […]

A new report from Enverus Intelligence Research said natural gas production in Permian Basin and Gulf Coast pipeline buildout are key developments to meet surging demand for U.S. LNG exports.  LNG feedgas demand in U.S. is projected to rise to 33 Bcfd by 2030.  To support this growth, Enverus said, about 9.0 Bcfd of new […]