U.S. Energy Information Administration said this week that the national average retail price of regular gasoline on May 20 – a week before Memorial Day – was $3.58 per gallon.  That’s a 1 percent increase from the same time last year – but 2 percent lower adjusted for inflation. Oil & Gas Journal said gasoline […]

Oklahoma City-based Riley Exploration Permian said recently it averaged 20,400 boed of production in first quarter, including 14,200 barrels per day of oil.  Total activity-based capital expenditures before acquisitions were $26 million, and cash capital expenditures before acquisitions were $35 million.  The company signed agreements in Q1 and closed during Q2 on purchases of oil […]

Dallas-based LM Energy Holdings recently started construction on an expansion of its natural gas gathering system that will increase capacity to 500 million cfd.  The company said May 13 it has entered into long-term agreements with multiple producers to support expansion of its gas gathering system in Eddy and Lea counties in southeast New Mexico. […]

Houston-based Phillips 66 said this week it will acquire Pinnacle Midland Parent from private equity firm Energy Spectrum Capital for $550 million to expand its natural gas gathering and processing system in Midland Basin. Assets of Houston-based Pinnacle include the recently built Dos Picos natural gas gathering and processing system (220 million cfd processing plant, […]

U.S. Department of Energy said Friday it signed contracts for 3.3 million barrels of U.S.-produced crude oil to add to the nation’s strategic petroleum reserve. The oil is being purchased for an average price of $79.38 per barrel for delivery in October to the Big Hill SPR site in Jefferson County in southeast Texas. DOE […]

Permian Basin reported a declining rig count as of May 17 for the third consecutive week, according to Baker Hughes. The Houston-based services firm reported 312 rigs (down 2 in past week, down 37 in past year) in Permian Basin. Also, there were 290 rigs in Texas (up 1 in past week, down 67 in […]

U.S. Fish and Wildlife Service said Friday the dunes sagebrush lizard in west Texas and southeast New Mexico has been declared an endangered species. Federal officials cited future energy development, sand mining and climate change as biggest threats to survival of the dunes sagebrush lizard. “We have determined that the dunes sagebrush lizard is in […]

Houston-based APA Corp. and subsidiaries including Apache announced Monday the sale of non-core assets in Permian Basin, East Texas Austin Chalk and Eagle Ford in south Texas for more than $700 million. The properties produced in first quarter an estimated 13,000 boed – more than one-third oil. APA said proceeds will be used primarily to […]

Enverus reported this week Occidental Petroleum and Pioneer Natural Resources are leading operators of drilling rigs in Permian Basin.  As of May 10, Occidental led with 23 rigs followed by Pioneer with 21.  Others in the Permian were EOG Resources with 19 rigs, Mewbourne Oil with 18, ConocoPhillips and Devon Energy each with 16, ExxonMobil […]

Houston-based Enbridge said last week it plans to expand Gray Oak crude oil pipeline by up to 120,000 barrels per day.  The 850-mile joint-venture pipeline carries Permian Basin crude oil from Reeves County to destination points at Corpus Christi, Ingleside and Sweeny/Freeport. Enbridge also plans to add 2.5 million barrels of storage at its Ingleside […]