San Ramon, Calif.-based Chevron said recently it will spend about $5 billion in the Permian Basin in its 2024 upstream capital program.  The corporation announced capital spending of $15.5 billion to $16.5 billion and an affiliate capital expenditure budget of about $3 billion for 2024.  Upstream spending is expected to be about $14 billion – […]

U.S. Environmental Protection Agency recently finalized long-anticipated new regulations that will require oil and gas operators in Texas and elsewhere in the nation to reduce how much methane escapes from oilfield equipment.  The regulations were announced Dec. 2 at the 28th annual United Nations climate summit in Dubai.  The EPA exercised its authority under the […]

U.S. added active oil and gas drilling rigs for the fourth straight week, according to Baker Hughes.  It’s the first four-week gain in more than a year since November 2022.  As of Dec. 8 there were 313 rigs in Permian Basin (314 week ago, 350 year ago), 308 in Texas (306 week ago, 370 year […]

Houston-based Kinder Morgan recently increased capacity of its Permian Highway natural gas pipeline by 550 million cfd.  Kimberly Dang, CEO, said during an investor call last week KMI brought the expansion into service Dec. 1.  The expansion uses compression to increase capacity.  Total capacity is now 2.65 Bcfd for the pipeline from the Waha hub […]

Houston-based Occidental Petroleum said Monday it agreed to purchase Midland-based oil and gas producer CrownRock in a cash-and-stock transaction valued at about $12 billion.  Occidental said CrownRock’s more than 94,000 net acres of “premium stacked pay assets and supporting infrastructure are well positioned alongside Occidental’s legacy Midland Basin business.”  This acquisition complements and enhances Occidental’s […]

Permian Basin produces more crude oil than any other region in the U.S.  U.S. Energy Information Administration said Wednesday that Permian Basin accounts for more than 40 percent of total U.S. crude oil production. And the Permian is the nation’s second largest natural gas-producing region – accounting for about a quarter of total U.S. marketed […]

Railroad Commission of Texas recently said its legal enforcement investigators are increasing their outreach and collaboration to help local, state and federal law enforcement officers.  The collaboration is important, the commission said, “because of a recent troubling trend in Texas: an increase in oilfield theft that is affecting oil and gas operations, especially in the […]

Production of associated natural gas, which is natural gas produced from predominantly oil wells, has nearly tripled since 2018 in the three top-producing tight oil plays in Permian Basin.  U.S. Energy Information Administration said Wednesday data from Enverus show that associated natural gas from the Wolfcamp, Spraberry and Bone Spring plays averaged a combined 13.7 […]

Calgary-based Enbridge recently said it is continuing with plans to expand Gray Oak pipeline by 200,000 barrels per day from Permian Basin to the Gulf Coast.  Enbridge CEO Greg Ebel said Nov. 3 on the company’s third quarter earnings call that an open season for the expansion is scheduled to start by the end of […]