Houston-based Targa Resources recently announced record Permian Basin and NGL transportation volumes during the second quarter.  Targa also announced a 43-mile extension of its Bull Run natural gas pipeline to enhance natural gas connectivity from Targa’s Delaware system to Waha to begin operations in 2027Q2. Targa expects early completion of several projects, including Pembrook II […]

Tulsa-based ONEOK said recently it will add to its natural gas processing capacity in Permian Basin with construction of a new plant in Delaware Basin and relocation of an existing plant from north Texas to the Midland Basin.  ONEOK is relocating its Shadowfax plant (capacity 150 million cfd) to west Texas by 2026Q1. The new […]

A federal court judge in Texas issued a ruling this week to end Endangered Species Act protections for the lesser prairie chicken and overturn a U.S. Fish and Wildlife Service rule to safeguard the bird.  It resides in the major oil- and gas-producing states of Texas, New Mexico, Oklahoma, Colorado and Kansas.  Judge David Counts […]

Houston-based LandBridge said last week it executed a 10-year surface use and pore space reservation agreement with Devon Energy to support Devon’s operations in the core of Delaware Basin in New Mexico.  LandBridge will provide Devon with 300,000 b/d of pore space capacity on its East Stateline Ranch and Speed Ranch surface acreage.  The pore […]

Houston-based Occidental Petroleum last week said total production in second quarter was above midpoint of guidance at 1.4 million boed.  That includes average production of 770,000 boed in Permian Basin, where it is one of the leading producers. Occidental also said Aug. 6 it has signed four agreements to generate about $950 million in proceeds […]

Houston-based Western Midstream Partners said last week it will acquire Aris Water Solutions in an equity and cash transaction valued at about $1.5 billion.  Aris’ full-cycle water infrastructure assets include about 790 miles of produced water pipeline, 1.8 million b/d of produced water handling capacity,1.4 million b/d of water recycling capacity and 625,000 dedicated acres […]

U.S. Energy Information Administration said this week that Brent crude oil prices are expected to decline significantly in the coming months – falling from an average of $71 per barrel in July to $58 per barrel in 4Q and about $50 per barrel in early 2026.  In its short-term energy outlook issued Tuesday, EIA said, […]

Denver-based Jonah Energy and its partner Burk Royalty recently announced the closing of their acquisition of High Plains Natural Resources.  The acquired assets are in northwestern shelf of Permian Basin in west Texas and southeast New Mexico primarily from San Andres formation.  The assets include about 62,000 net acres and 250 operated horizontal wells in […]

It’s been 24 weeks since Permian Basin reported an increase in its count of active drilling rigs.  Baker Hughes said in its weekly report of Aug. 8 that there were 256 rigs in Permian Basin – a decline of 3 from last week and a decline of 48 or 16 percent since 304 a year […]

Brentwood, Tenn.-based Delek Logistics Partners said last week it completed construction of its new Libby 2 natural gas processing plant and other crude oil and water gathering projects.  Delek said Aug. 6 the Libby 2 plant provides “a much-needed processing capacity expansion to our producer customers in Lea County, N.M.” Avigal Soreq, president, said, “We […]