More than 20 billion cubic feet per day of natural gas pipeline capacity is under construction, partly completed or approved to deliver natural gas to five U.S. liquefied natural gas export terminals currently under construction. According to the latest Natural Gas Pipeline Tracker from U.S. Energy Information Administration, some of the new pipeline capacity is […]
U.S. ends streak of four weeks of growing rig count, Permian down 3 to 310
Four consecutive weeks of gains in count of active drilling rigs in U.S. came to an end last week. Baker Hughes said as of Dec. 15 there were 310 rigs in Permian Basin (down 3 in past week, down 40 in past year), 308 in Texas (unchanged in past week, down 59 in past year), […]
Freehold Royalties acquires assets in Delaware, Midland basins
Calgary-based Freehold Royalties said last week it entered agreements with two private sellers to acquire high-quality mineral title and royalty assets in Delaware and Midland basins for about $112 million. The assets are located primarily in Martin County in Midland Basin “capturing some of the thickest stacked pay reservoir quality in North America.” The acquisition […]
APA adding sixth drilling rig in Permian Basin in fourth quarter
Houston-based APA Corp. recently said its upstream capital investment in fourth quarter is about $500 million, including increased activity in Permian Basin. APA is adding a sixth drilling rig in 4Q in Permian. Production of 412,000 boed in 3Q reflects quarterly growth in each operating area, including 10 percent in Permian Basin. “Good execution and […]
Martin County passes Midland as leading producer of crude oil in Texas
Martin County has surpassed Midland County as the leading producer of crude oil in Texas, according to the latest data from Railroad Commission of Texas. The commission said Dec. 11 Martin produced 16,971,500 barrels of crude oil in September 2023 – ahead of the 16,338,863 of Midland. Nine of the top 10 counties are in […]
BKV, EnLink announce initial injection of carbon dioxide waste in Barnett Shale
Denver-based BKV Corp. and Dallas-based EnLink Midstream recently announced the initial injection of carbon dioxide waste from EnLink’s natural gas processing plant in Bridgeport at BKV’s Barnett Zero carbon capture and sequestration facility. EnLink said Nov. 13 it marks “a major step toward reducing CO2 emissions associated with BKV’s natural gas production in north Texas’ […]
Midland’s ProPetro acquires Par Five Energy Services to add Delaware Basin
Midland-based ProPetro Holding said recently it acquired assets and business operations of Artesia, N.M.-based Par Five Energy Services. Par Five specializes in cementing services in Delaware Basin, and its business complements ProPetro’s existing cementing business in Midland Basin. Sam Sledge, CEO of ProPetro, said Dec. 4, “The transaction is … highly complementary to our current […]
Chevron to spend $5 billion in Permian Basin in 2024 for upstream capital
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 – […]
EPA issues new regulations to reduce methane emissions, minimize gas leaks
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. adds drilling rigs for fourth straight week, Permian down 1, Texas up 2
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 […]
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