Three of the top four and six of the top ten public onshore exploration and production companies in the U.S. lower 48 for 2025 name the Permian Basin as their primary operating region, according to Enverus.  ExxonMobil (Permian) leads the ranking again at 1.95 million boed followed by Expand Energy (eastern U.S., formerly Chesapeake Energy) […]

Houston Chronicle reported this week that President Trump’s plan for Venezuelan oil could add supply to an already over-supplied market, “causing more pain for Texas oil companies.”  The Chronicle said Houston’s largest oil companies are shedding jobs and more drilling rigs are sitting idle a year after Trump said in his inaugural speech, “We will […]

U.S. retail price for gasoline declined for the third consecutive year in 2025 to an average of $3.10 per gallon.  U.S. Energy Information Administration said Jan. 7 in its Gasoline and Diesel Fuel Update that the largest component of U.S. gasoline price is the price of crude oil, which was lower in 2025 because of […]

Japan-based Mitsubishi Corp. last week entered the U.S. natural gas shale business with its purchase of assets in Texas and Louisiana.  Mitsubishi said Jan. 15 it agreed to acquire all equity interests in Aethon III, Aethon United, and related entities and interests for $5.2 billion.  The deal is aimed at strengthening Mitsubishi’s integrated energy and […]

According to a report in The Texas Tribune, President Trump’s pledge to bring the price of a barrel of crude oil down to $50 could signal trouble for Texas.  Trump suggested the U.S. should control Venezuela’s oil after the recent arrest of its President Nicolas Maduro.  The Tribune said this week, “Trump … could certainly […]

In its latest short-term energy outlook, U.S. Energy Information Administration said U.S. natural gas prices will remain relatively flat in 2026 before rising in 2027 as market conditions tighten.  EIA said Jan. 13 that factors such as expansion of U.S. LNG export capacity and increased natural gas consumption in the electric power sector are expected […]

The count of active drilling rigs in Texas declined in Baker Hughes’ weekly report of Jan. 16 for the fourth straight week.  There were 228 rigs in Texas (down 2 in the past week and down 53 or 18.86 percent in the past year).  Also, there were 244 rigs in Permian Basin (unchanged in the […]

U.S. Energy Information Administration said in its latest short-term energy outlook it expects U.S. crude oil production to be relatively flat in 2026 and decline in 2027 while global oil inventories continue to increase.  EIA expects global inventories to increase in 2026 and 2027, although at a slower pace in 2027. Brent crude oil prices […]

Houston-based Milestone Environmental said last week it has acquired the Striker slurry injection facility in Lea County in southeastern New Mexico in the Permian Basin.  Milestone said the deal expands its network of advanced waste management infrastructure, including oil reclamation and treatment.  The acquisition of Striker enhances Milestone’s position across the Permian Basin and brings […]

Chicago-based financial services firm Morningstar said in an analysis released this week that strong demand for natural gas is driving a surge in pipeline construction across Texas, Oklahoma and Louisiana.  Morningstar said Monday 12 new and expanded natural gas pipelines are scheduled to be completed this year.  They are expected to add 18 Bcfd of […]