U.S. Energy Information Administration expects Henry Hub natural gas price to increase in 2025 and 2026 as demand for natural gas grows faster than supply.  There is more demand from U.S. LNG export facilities which reduces natural gas in storage compared with the last two years.  EIA said Jan. 23 it expects U.S. benchmark Henry […]

Austin-based Atlas Energy Solutions said last week it agreed to purchase Moser Energy Systems, a provider of distributed power solutions, in a cash and stock transaction valued at $220 million ($180 million cash).  Atlas said the combination of its completion platform and Moser’s distributed power platform creates “an innovative, diversified energy solutions provider with a […]

Permian Basin and U.S. added drilling rigs last week for the first time in eight weeks, according to the weekly report of Jan. 31 from Baker Hughes.  There were 303 rigs in Permian Basin (up 5 in the past week, down 8 in the past year) and 582 in U.S. (up 6 in the past […]

East Daley Analytics recently attributed NGL production records in 2024Q4 to Targa’s Daytona pipeline from Permian Basin to Mont Belvieu and Targa’s access to Energy Transfer’s Sendero plant, where Daytona receives much of its NGL volumes in New Mexico.  NGL production hit another record in October 2024 after previous records in March, April, May and […]

Houston-based WaterBridge Operating and NDB Midstream said last week they agreed to support the long-term development plans of BPX Production in the Stateline region of Delaware Basin.  WaterBridge will construct and operate 400,000 barrels per day of new produced water capacity in the next three years with the ability to increase capacity to 600,000 b/d. […]

Midland-based Diamondback Energy said Thursday it reached agreement with subsidiary Viper Energy to sell mineral and royalty interests from subsidiaries of Diamondback for $1 billion in cash and about 69.6 million units of Viper’s operating subsidiary in a “drop down” transaction.  The transaction is valued at $4.45 billion. Travis Stice, chairman and CEO of Diamondback, […]

Counts of active drilling rigs in Permian Basin, Texas, New Mexico, and U.S. all fell in the past week, according to data in the weekly report of Jan. 24 from Baker Hughes.  The U.S. count dropped to 576, down 4 in the past week and 45 in the past year.  That’s the lowest U.S. count […]

Midland-based Warrior Technologies, environmental and industrial services company, said recently it closed on the acquisition of the field services unit that Diamondback Energy acquired in its purchase of Endeavor Energy Resources.  The purchase adds 84 employees to Warrior and 607 units to its fleet of equipment.  “It will help our focus on surface and soil […]

Birmingham, Ala.-based Diversified Energy said Monday it agreed to acquire Maverick Natural Resources, Houston-based private oil and gas company, for $1.275 billion (including debt).  Core areas for Maverick are Permian Basin, western Anadarko and Ark-La-Tex.  About 90 percent of Maverick’s production comes from these three areas.  Diversified’s core areas are Permian Basin, Appalachia, western Anadarko, […]