Houston-based Lime Rock Resources said March 7 it will conduct aerial scans of its assets in Delaware Basin and Barnett Shale with advanced laser technology to detect fugitive methane emissions.  The scans will help Lime Rock pursue certification of its natural gas as responsibly sourced and prepare it for proposed regulations by U.S. Environmental Protection […]

Denver-based SM Energy said in its latest earnings report that it will spend 60 percent of its $1.1 billion capital expense budget in Midland Basin in 2023 after a 50-50 split with its operations in south Texas of $880 million last year. Midland Basin is receiving a larger share this year because of “the expectation […]

Texas Workforce Commission said March 10 that Texas added 48,600 nonfarm jobs in January – the most since October 2022 and the 16th straight month of record employment in the state.  Each of the 11 major sectors of the workforce added jobs, including an additional 2,500 jobs in mining and logging (includes oil and gas).  […]

ExxonMobil said Thursday it successfully started an expansion of its Beaumont refinery that added 250,000 barrels per day of capacity to one of the largest refining and petrochemical complexes on the U.S. Gulf Coast.  Connected by pipeline to Exxon’s growing crude production in Permian Basin, the largest refinery expansion since 2012 will help meet growing […]

Occidental Petroleum said in its latest earnings report that production grew 15 percent to 565,000 boed (60 percent oil, 23 percent NGLs) in Permian Basin in 2022Q4 compared to the previous year.  Oxy added 10 rigs in Permian Basin during 2022 and exited the year with 24 active rigs.  And Oxy drilled its longest lateral […]

Houston-based Surge Energy, independent oil and natural gas company focused on Midland Basin, said recently it added acreage to its portfolio in Dawson and Gaines counties in west Texas.  Surge said it acquired “a substantial acreage position” in the northern Midland Basin from an undisclosed seller and plans “to test opportunities for oil well commerciality […]

U.S. reversed its four-week decline in count of active drilling rigs in the weekly report of March 17 by Baker Hughes.  Counts in Permian Basin and Texas also rebounded.  Baker Hughes reported 350 rigs in Permian Basin (343 previous week, 316 year ago), 371 in Texas (366 previous week, 320 year ago), 106 in New […]

Calgary-based energy data firm Enverus said last week its adoption forecast for electric vehicles implies the displacement of 2.7 million barrels per day of liquid fuels in 2030 and 5.2 million b/d in 2035.  Enverus’ updated EV outlook outlines the energy impacts of EV adoption.  Carson Kearl of Enverus said, “EV market share growth in […]

A day after President Biden approved the Willow project in Alaska, ConocoPhillips’ $8 billion plan to extract 600 million barrels of oil from the largest remaining expanse of wilderness in the U.S., the New York Times reported under the headline “Big Oil Gets Its Mojo Back” that “confidence is high in the oil and gas […]

Midland-based Diamondback Energy, through subsidiary Cottonmouth Ventures, is making a $20 million equity investment in Verde Clean Fuels, renewable energy company with technology that captures flared natural gas and converts it into gasoline.  Verde Clean Fuels, business combination of CENAQ Energy and Bluescape Clean Fuels, developed and owns proprietary syngas-to-gasoline technology designed to produce renewable […]