Permian Basin’s streak of weeks without an increase in count of active drilling rigs has reached a dozen.  Baker Hughes said in its weekly report of July 12 that Permian reported 305 rigs for the third consecutive week (down 32 from 337 a year ago).  Permian last reported an increase April 19 (up 2 to […]

Houston-based private equity firms Post Oak Energy Capital and Genesis Park said last week they sold their interests in Layne Water Midstream in all-cash transactions.  Post Oak and Genesis Park said July 10 they worked closely with Layne management to grow its customer base and footprint in Permian Basin after investing in Layne in 2019.  […]

Houston-based Weatherford International said recently it has an agreement with Honeywell to jointly deliver an advanced emissions management solution.  The integrated system will facilitate immediate access to essential data, empower decision-makers to act swiftly to mitigate risks, and enhance operational efficiency to achieve decarbonization targets. The agreement leverages Weatherford’s CygNet SCADA platform, the energy industry’s […]

Midland-based Ares Energy said completions are beginning in July for its Pradera Fuego project in Ector County.  In January Ares launched a 4-5 well drilling program targeting the Mississippian interval in Barnett Shale.  The program has since expanded to seven wells.  Ares said the deep wells are estimated at 1,000 b/d of initial production with […]

Addison-based King Operating Corp. said recently it added two developments in Permian Basin.  King’s partnership assets include the ConocoPhillips project, a three-well package of wells completed in first quarter in Delaware Basin with 16 percent interest.  The latest addition is Phantom Hill project in eastern shelf of Permian, another three-well package with 45 percent interest […]

Houston-based Pinon Midstream said recently it received approval from U.S. Environmental Protection Agency for its monitoring, reporting and verification plan for carbon dioxide sequestration at its two acid gas injection wells in Delaware Basin.  The two AGI wells are located at Dark Horse gas treatment plant in Lea County, the largest AGI system currently permitted […]

Hurricane Beryl had minimal effects on the oil and gas industry on the U.S. Gulf Coast, according to Oil & Gas Journal. Marathon Galveston Bay refinery advised the City of Texas City that it had to flare because of a brief power disruption during the storm, but no other issues were reported.  ExxonMobil made operational […]

ExxonMobil leads Permian Basin operators in working rigs in the basin as of June 28, according to Enverus.  Other basin leaders include Occidental Petroleum with 22, Mewbourne Oil with 19, and ConocoPhillips, EOC Resources and Devon Energy each with 16.  Chevron and Permian Resources have 12 rigs each, and Diamondback and Endeavor have 11 each. […]

Texas Pacific Water Resources recently received the annual Bruno Hanson/Midland College Environmental Excellence Award.  The award was presented at a Permian Basin environmental regulatory seminar for Texas Pacific’s research into treating and recycling produced water.  Gretchen Hanson Bakke, member of the award committee, told Midland Reporter Telegram, “The committee selected Texas Pacific Water Resources for […]

For the first time since May 17, U.S. and Texas reported increases in count of active drilling rigs.  Baker Hughes said in its weekly report of July 5 there were 585 rigs in U.S. (up 4 in past week, down 95 in past year) and 278 rigs in Texas (up 1 in past week, down […]