Dallas-based Sentinel Midstream said last month it started construction on Texas GulfLink, a deepwater crude oil export terminal about 30 miles off the coast of Freeport. It will be capable of fully loading very large crude carriers (VLCC) offshore and connect global markets to North American-produced crude oil. Funding is provided by the U.S.-Japan trade […]
Texas oil production fell to 5.78 million b/d in March, but increase expected
Crude oil production in Texas fell to a four-month low of 5.78 million barrels per day in March, according to U.S. Energy Information Administration. Production in New Mexico was steady at 2.31 million b/d. The two states are home to the prolific Permian Basin, the nation’s leader in crude oil production. EIA said U.S. oil […]
Permian Basin rig count increases for fourth straight week to 255
Drillers in Permian Basin added oil and gas rigs for the fourth straight week, according to the weekly report of May 29 by Baker Hughes. Permian now has 255 active rigs after adding 5 in the past week. It’s the most since August 2025, but down 23 or 8.27 percent from 278 rigs a year […]
Two-thirds of new natural gas pipeline capacity in U.S. originates in Texas
U.S. Energy Information Administration said 66 percent of 44.9 billion cubic feet per day of new pipeline capacity coming online in 2026 and 2027 originates in Texas. In its natural gas pipeline projects report May 26, EIA said 29.7 Bcfd of the capacity additions originate in Texas. EIA said 31.6 Bcfd or about 70 percent […]
Czech investor acquires assets of UpCurve Energy in Delaware Basin
Houston-based Post Oak Energy Capital said recently it divested the assets of UpCurve Energy Partners in southern Delaware Basin. Reuters reported May 20 that UpCurve was acquired by Sev.en Global Investments and the family of Czech Republic billionaire Pavel Tykac, marking their entry into the U.S. upstream oil and gas sector. The assets include 21,000 […]
Kimbell Royalty Partners to acquire Permian assets from Mesa Royalties
Fort Worth-based Kimbell Royalty Partners said recently it will acquire mineral and royalty interests in Permian Basin from Mesa Royalties in a cash and unit transaction valued at $147 million ($44 million cash). Kimbell said May 19 that as of June 1, 2026, the acquired assets are expected to produce 1,390 boed for the next […]
Kinetik Holdings expands Kings Landing II processing plant to 300 million cfd
Midland-based Kinetik Holdings said recently it will proceed with development of natural gas processing plant Kings Landing II and increase its capacity to 300 million cubic feet per day from 200 million cfd. KLII is located at the company’s Kings Landing complex in Eddy County, N.M. Jamie Welch, president and CEO, said May 19 the […]
Enverus reports strong start to M&A activity in 2026
Enverus Intelligence Research recently reported a strong start to 2026 in the nation’s upstream M&A (mergers and acquisitions) activity and market outlook. Enverus said May 13 that U.S. upstream deal value reached $38 billion in first quarter – the highest quarterly total in two years. Enverus said May 13, “Higher oil prices are expected to […]
Phillips 66 to add Zeus plant, Midland Express pipeline to move Permian volumes
Houston-based Phillips 66 said last week it will proceed with the addition of Zeus gas processing plant and Midland Express pipeline in west Texas and another Coastal Bend fractionator in south Texas to advance its integrated wellhead-to-market strategy. Zeus will be a processing facility in Permian Basin with capacity of 300 million cfd. Midland Express […]
Texas adds 10 drilling rigs in past week, most in one week in four years
Counts of active drilling rigs in Permian Basin, Texas and U.S. continue to rebound, according to the weekly report of May 22 by Baker Hughes. Texas added 10 rigs – its most new rigs in one week in four years – to reach 255. It was the fifth straight week for Texas to add rigs […]