Houston-based Enterprise Products Partners said Wednesday it agreed to acquire a natural gas gathering affiliate of Occidental Petroleum for $580 million.  Enterprise will provide Occidental with natural gas gathering and processing services with a long-term dedication of about 73,000 acres in four counties in Midland Basin.  Assets include about 200 miles of natural gas gathering […]

Midland’s Diamondback Energy this week trimmed another $100 million from its 2025 capital spending plan while raising 2025 total production by about 2 percent to a range of 890,000 boed to 910,000 boed.  Diamondback said 2Q production was 495,700 b/d of oil (919,000 boed) from Delaware and Midland basins.  It completed 116 gross wells (109 […]

The count of active drilling rigs in Texas declined by four in the past week – the most of any major producing state – to 245.  That’s down 29 rigs or 10.6 percent from the count a year ago of 274.  Texas began 2025 with 284 rigs. Houston-based services firm Baker Hughes said as of […]

Oklahoma City-based Continental Resources is expanding operations in the Permian Basin, including drilling and producing in the Barnett Shale of the Midland Basin and Central Basin platform.  Hart Energy said July 29 that Continental has surfaced nearly 2 million barrels from six Barnett wells in Ector County since first barrels came online in October 2022 […]

Halliburton, largest provider of hydraulic fracturing services, reportedly plans to idle or retire some of its oilfield equipment in response to “deteriorating demand among shale companies.”  Jeff Miller, chairman, president and CEO, announced the plans during the company’s second quarter earnings report July 22.  The move “reflects a broader slowdown in the U.S. shale patch […]

Houston-based Chevron said Friday its production in Permian Basin reached 1 million boed for the first time in company history during second quarter.  That hits a target set by Chevron about five years ago.  Mike Wirth, CEO, said, “Second quarter results reflect continued strong execution, record production and exceptional cash generation.”  U.S. and worldwide production […]

Houston-based Phillips 66, in its second quarter financial report, said its Dos Picos II gas processing plant in Midland Basin recently came online ahead of schedule and on budget.  Mark Lashier, chairman and CEO, said July 25, “Phillips 66 delivered strong financial and operating results across our integrated value chain, reflecting the continued execution of […]

Record volumes from operations in Permian Basin and Haynesville helped Houston-based Enterprise Products Partners maintain its financial results in the first half of 2025.  A.J. (Jim) Teague, co-CEO, said Monday, “We are excited for the opportunities the second half of 2025 is poised to present with approximately $6 billion of our organic growth capital projects […]

Production of crude oil from onshore federal lands has increased in recent years because of significant growth in drilling activity and operations.  U.S. Energy Information Administration said Monday, “Most of this growth was in New Mexico from crude oil produced from federal lands in the Permian Basin.”  According to data from Office of Natural Resources […]

After a one-week reprieve, the count of active drilling rigs in U.S. resumed its decline last week.  Baker Hughes said in its weekly report of July 25 the U.S. count declined by 2 in the previous week to fall to 542.  The U.S. count is down 8 percent or 47 rigs from 589 a year […]