Chevron said Thursday it will not submit a new bid for The Woodlands-based Anadarko Petroleum, allowing Occidental Petroleum to acquire Anadarko’s prized assets in Permian Basin and remain the Permian’s top producer for the foreseeable future. The decision by San Ramon, Calif.-based Chevron ends a takeover battle after Anadarko initially agreed to be purchased by […]
Flaring of byproduct natural gas increases 85 percent in 2018
Bloomberg reported that the Permian Basin produced so much natural gas at the end of last year that producers were flaring more than enough of the fuel to satisfy residential demand across the state. Flaring, a common practice by drillers, burns gas that can’t be easily or efficiently captured, stored or transported to market. Bloomberg […]
Natural gas prices at Waha hub near Coyanosa fall to $0.00
Regional producers told the Midland Reporter Telegram that natural gas prices at the Waha hub near Coyanosa have fallen to as low as $0.00. Bill Graham of Incline Energy told the Reporter Telegram last month the Waha plant “has so much gas available that it outruns their delivery capacity. With the supply outrunning their demand, […]
Clinic opens in Carlsbad for employees of Conoco, Marathon, XTO Energy
A medical clinic opened in Carlsbad last month for employees of three of the largest oil and gas operators in southeastern New Mexico. ConocoPhillips, Marathon Oil and XTO Energy employ thousands of people in Eddy County, and they are now served by a clinic operated by XStremeMD, a 13-year-old company based in Lafayette, La. XStremeMD […]
Global firm De Nora acquires water service company Neptune Solutions
De Nora, global provider of electrochemical technologies and water treatment technologies, said it has acquired a majority interest in water service company Neptune Solutions to form De Nora Neptune, which is now the service unit of De Nora. Fort Stockton-based Neptune specializes in what De Nora calls “on the fly” water treatment for hydraulic fracturing […]
Rig count falls 9 in Texas; U.S. count below 1,000 for first time in 14 months
Texas again led a decline in oil and gas drilling as the nation’s count of active rigs dropped below 1,000 for the first time in more than a year. According to Baker Hughes, as of April 26, Texas lost 9 rigs in the past week to 491, and the Permian Basin count declined 3 to […]
Texas Permian Basin Index rebounds after two months of declines
The Texas Permian Basin Petroleum Index rebounded from two months of declines to grow slightly to 347.9 in January 2019, according to Karr Ingham of Amarillo, economist who prepares the index for Texas Alliance of Energy Producers. The index peaked at 384.9 in November 2014 before falling to 210.1 in September 2016 (base 100 in […]
Texas, New Mexico still lead state rig counts; Permian down to 463
Texas and all other major oil- and gas-producing states posted declines in rig counts for the week that ended April 18, according to Baker Hughes. Texas’ count was down 2 in the past week to 500 rigs (509 a year ago), and the U.S. count was down 10 to 1,012 rigs (1,013 a year ago). […]
Apache temporarily defers Alpine High gas production in Permian
Houston-based Apache Corp. said April 23 it initiated natural gas production volume deferrals from its Alpine High play in late March “in response to extremely low prices at Waha hub.” Current deferrals represent about 250 MMcfd of gross gas production. John J. Christmann IV, CEO and president, said, “As far back as two years ago […]
Surge Energy subsidiary Moss Creek drills longest lateral in Permian
Moss Creek Resources, subsidiary of Houston-based Surge Energy US Holdings, said last week it drilled the longest known lateral in the Permian Basin based on IHS and Drillinginfo databases. Medusa Unit C 28-09 3AH was successfully drilled to a total measured depth in Wolfcamp A of 24,592 feet (total vertical depth of 7,102 feet; horizontal […]