Houston-based Enterprise Products Partners announced Tuesday four new capital projects totaling $3.1 billion to support production growth in Delaware and Midland sub-basins of Permian Basin.  And the company said it will return the Seminole pipeline with capacity of 210,000 barrels per day of crude oil to natural gas liquids in December.  Seminole was converted to […]

The Office of Petroleum Reserve in the U.S. Department of Energy said recently it will purchase up to 6 million barrels of oil for delivery in December 2023 and January 2024 for the strategic petroleum reserve.  DOE officials said the department will purchase oil at a maximum price of $79 per barrel for the SPR […]

For the third consecutive week, Texas led a comeback of drilling activity in U.S.  Baker Hughes said in its weekly count of active oil and gas drilling rigs that as of Oct. 27 there were 313 rigs in Permian Basin (up 1 in previous week, down 33 in previous year), 311 in Texas (up 3 […]

Dallas-based Matador Resources, with current operations focused in Wolfcamp and Bone Spring plays in Delaware Basin, said last week it reached record production in third quarter.  Matador said Oct. 24 it reached production of 135,096 boed in 3Q – up 3 percent over 130,683 boed in 2Q and up 28 percent from 105,214 boed in […]

Job growth continues in Texas and its oil and gas industry.  Texas Independent Producers and Royalty Owners Association reported nearly 12,000 active job listings in September and more than 4,500 new job posts.  Texas Workforce Commission reported 61,400 new jobs in September and 435,000 additional jobs since last September in the state. U.S. Bureau of […]

Texas now leads the nation in solar power installed on its power grid – knocking California from its longtime leadership.  Houston Chronicle reported this week that data from Bloomberg and U.S. Energy Information Administration show growth of utility-scale solar in California has “clearly slowed,” and Texas reported 18,364 megawatts of solar power capacity on its […]

Enverus Intelligence said Wednesday the drilling rig day rate declined in September for the fourth straight month.  Enverus Day Rate Survey showed that the U.S. composite rate fell in September to $23,623 – down $129 from the August rate.  It was the smallest sequential decline of the last four months.  Enverus said rig demand has […]

U.S. Energy Information Administration said last week marketed natural gas production in the lower 48 states will grow by five percent (5 billion cubic feet per day) this year and by two percent (1.8 Bcfd) in 2024 driven primarily by growth in Permian Basin.  EIA said, “Most of the forecast growth comes from the Permian […]

Crude oil production in Permian Basin is forecast by U.S. Energy Information Administration to decline next month by 30,000 barrels per day.  In the latest drilling productivity report of Oct. 16, EIA said oil production in Permian is expected to be 5.901 million barrels per day in November after 5.931 million b/d in October.  Overall […]

U.S. Energy Information Administration recently forecast lower average natural gas bills this winter for U.S. consumers who heat their homes primarily with natural gas this heating season (Nov. 1 to March 31) compared with last winter. The lower residential winter natural gas expenditures forecast in the 2023 EIA Winter Fuels Outlook are due primarily to […]