U.S. Energy Information Administration said this week U.S. weekly average gasoline prices have declined 19 cents per gallon since a 2024 high in April. Prices fell to $3.48 per gallon July 1 – 5 cents per gallon less than a year ago. EIA said, “Increasing gasoline inventories, relatively weak demand and oil prices below recent […]

Texas LNG Brownsville is nearing sellout of its supplies from its LNG plant being developed at the Port of Brownsville, according to Brendon Duval, co-president. Duval said Tuesday the company signed a non-binding agreement with an unnamed company for long-term supply of 500,000 tonnes per year of LNG from its Brownsville plant (4 million tpy). […]

Tom Long, co-CEO and CFO for San Antonio-based Energy Transfer Partners, said recently his company could have the next pipeline from west Texas after this year’s launch of Matterhorn Express. Long said the industry has “a strong interest in another pipeline probably by mid- to late-2026. We are very optimistic that we will be the […]

As Double Eagle IV brings online new wells and ramps up production in Permian Basin, Hart Energy recently asked: Is the Fort Worth-based company the most coveted private equity-backed exploration and production company in the Permian Basin? Double Eagle IV is led by co-CEOs Cody Campbell and John Sellers, who in 2021 guided Double Eagle […]

Baker Hughes’ count of active drilling rigs in U.S. fell again as of June 28 for the fourth straight week. And the count fell in June for the fourth straight month, and the count fell for the sixth quarter in a row for the first time since 2020. The U.S. count was 581 – down […]

Newly public Delaware Basin surface owner LandBridge said last week development of data centers will be an important part of the company’s future. The Houston-based company, which owns about 220,000 surface acres in Texas and New Mexico in the core of the Delaware Basin, manages its land and resources to support and encourage oil and […]

U.S. Energy Information Administration said this week U.S. energy production exceeded consumption by a record amount last year.  In 2023 energy production in the U.S. rose four percent to a record of nearly 103 quadrillion BTUs.  At the same time, energy consumption in the U.S. fell one percent to 94 quads.  Production exceeded consumption by […]

According to a recent report from Enverus, operators in Barnett Shale in north Texas pulled back on completion activity in 2023.  Henry Hub prices averaged 62 percent less than the previous year at $2.57 per million BTUs.  U.S. Energy Information Administration said, “Record high natural gas production, flat consumption and rising natural gas inventories contributed […]

Two companies that operate primarily in Permian Basin are ranked among the top 10 private operators in the lower 48 states, according to a recent report from Enverus.  Continental Resources (Rockies) was the No. 1 private operator in 2023 with 690,299 boed, Mewbourne Oil (Permian) was fourth with 408,754 boed, and Endeavor Energy (Permian) was […]

Fort Worth-based U.S. Energy Development Corp. said this week it is expanding its operations in the Permian Basin.  “Building on a series of recent successes,” U.S. Energy said Tuesday, “the company is poised for significant growth and development in one of the most productive oil and gas regions.”  The continued investment includes the recent completion […]