Houston-based Battalion Oil Corp. said this week it will acquire oil and gas assets of 7,090 net acres in Ward County in Permian Basin from RoadRunner Resource Holding (formerly Sundown Energy).  The acquired leases are adjacent to Battalion’s existing Monument Draw position to allow long lateral development and operational efficiencies.  Battalion expects to add 30 […]

U.S. electricity net generation reached a record in 2025, according to the Electricity Data Browser from U.S. Energy Information Administration.  In 2025 the U.S. generated 4.43 terawatt hours of electricity, up 2.8 percent from 2024, which previously had been the highest annual total dating back to 1949. This growth contrasts with the trend of relatively […]

Railroad Commission of Texas will continue its series of online listening sessions Wednesday, March 11, at noon.  The 90-minute session will provide the public with another opportunity to share perspectives on the commission’s role as the state’s regulatory agency for the oil and gas industry. The online sessions, occurring every other month, are organized by […]

Oklahoma City-based Riley Exploration Permian said last week it expects to produce 35,000-to-37,000 boed in 2026, including 21,000-to-22,000 barrels of oil per day.  That compares to 29,200 boed and 17,300 b/d of oil in fullyear 2025 and 35,500 boed and 20,100 b/d of oil in fourth quarter. Capital expenditures for 2025 before acquisitions were $120 […]

For the second time in a month, Texas added 6 drilling rigs in the previous week.  Baker Hughes said in its weekly report of March 6 there were 236 active rigs in Texas – up 6 in the past week but down 45 or 16.01 percent from 281 a year ago.  Texas also added 6 […]

Fort Worth-based U.S. Energy Development Corp. said recently it will spend up to $1 billion in 2026 to “build on its momentum from 2025 to expand its portfolio of upstream assets across the lower 48.”  The company said it will “focus the bulk of its capital spending expanding its high-quality inventory in the Permian Basin.” […]

After producing 401,500 boed in fourth quarter, Midland-based Permian Resources last week forecast 400,000-to-430,000 boed for fullyear 2026.  The forecast for crude oil production for 2026 is 186,000-to-192,000 barrels per day after 4Q oil production of 188,633 b/d.  In 4Q the company also reduced costs 14 percent from 2024 to about $700 per foot. James […]

Houston-based Occidental Petroleum and its subsidiary 1PointFive said this week they expect Phase I of the STRATOS direct air capture plant in Ector County in Permian Basin will come online in second quarter.  1PointFive said Phase 1 “is in the final stage of startup.”  Phase 2, which incorporates learnings from research and development and Phase […]

U.S. Fish and Wildlife Service said last week it ended protections for the lesser prairie chicken from the Endangered Species Act.  The Feb. 25 ruling eliminates the Biden-era requirements for the oil, gas and cattle industries to safeguard the birds’ habitat in Texas, New Mexico, Oklahoma, Colorado and Kansas. Albuquerque Journal said lesser prairie chickens […]

For only the third time in 2026, U.S. reported a declining count of active drilling rigs.  Baker Hughes said in its weekly report of Feb. 27 there were 550 rigs in U.S. (down 1 from the previous week and down 43 or 7.25 percent from 593 a year ago).  It’s the first U.S. declining rig […]