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 […]

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 […]

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 […]

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 […]

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 […]

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 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 […]

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 […]

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 […]

Houston-based Summit Midstream said last week a lateral connecting a processing plant in Eddy County, N.M., is expected to be in-service in first quarter of 2027.  Another new 10-year agreement for 100 million cfd of capacity was executed before the end of 2026Q1.  Summit said May 11, “This agreement along with those previously announced brings […]