Midland-based Diamondback Energy said Monday it expects to operate 14-to-15 rigs in the second half of 2023 after operating as many as 17 rigs earlier this year.  Travis Stice, chairman and CEO, said Diamondback is aiming for 3 percent increase in production from 2023Q1 when it averaged 251,000 barrels per day of oil (up 13 […]

Mike Sommers, president and CEO of American Petroleum Institute, the world’s largest oil and gas association, will be the featured speaker at the 2023 State of Energy luncheon Monday, May 15, at The Ortiz Center in Corpus Christi.  Shale magazine and EN Media Group conduct the annual luncheon to “demonstrate the undeniable economic impact the […]

Count of active drilling rigs increased for the fourth straight week and seventh time in the last eight weeks in Permian Basin, according to the weekly report of April 28 from Baker Hughes.  There were 361 rigs in Permian Basin (358 last week, 335 year ago) – up from 353 to start the year.  Also, […]

Arlington-based U.S. Energy Development Corp. said last week it recently acquired 25 percent working interest in the Mascot project in Midland Basin for $225 million cash and other considerations.  Mascot in Midland County includes multiple producing properties, associated midstream assets and about 50 undeveloped locations expected to produce 6,500 boed in 2023.  It is majority […]

Groundbreaking ceremony was held Friday for Stratos, Occidental Petroleum’s first direct air carbon capture facility in west Texas.  It’s one of five in industrial areas of Texas and Louisiana for Oxy and its affiliate, 1PointFive, who plan to build 100 DAC facilities worldwide by 2035 in its transition from a Houston-based oil giant to a […]

Employment in Texas and the state’s oil and gas industry continues to grow, according to Texas Workforce Commission. Texas added jobs again in March to continue more than two years of uninterrupted monthly job growth – although the growth from February to March slowed from previous months. Unemployment in the state held steady at four […]

Oil & Gas Journal reported last week that the in-service date for the expansion of Permian Highway natural gas pipeline by Kinder Morgan has been delayed again to December 2023. Kinder Morgan attributed the delay to supply chain constraints. Capacity is being expanded by 550 million cubic feet per day for the 430-mile pipeline to […]

Fort Worth-based Firebird Energy II said last week it has secured equity commitments of more than $500 million, including funds managed by Quantum Energy Partners, to invest in oil and gas properties in Permian Basin. The founders and employees of Firebird II and other partners also are making what was called “significant equity commitments” to […]

Irving-based Pioneer Natural Resources, one of the nation’s largest independent oil and gas companies, said Wednesday that Richard P. Dealy, 56, will succeed Scott D. Sheffield, 71, as the company’s CEO effective Jan. 1, 2024. Sheffield, member of the Permian Basin Petroleum Museum Hall of Fame, graduate of University of Texas and “a trailblazer in […]

Production of petroleum and liquid fuels in Mexico has held steady since 2019, according to a report in Oil & Gas Journal, after two decades of steady decline.  U.S. Energy Information Administration said production in Mexico is expected to remain relatively flat through 2024. In 2013 the Mexican government amended its constitution to open the […]