U.S. Department of Energy said Friday it awarded contracts to five companies to deliver 3.1 million barrels of crude oil to the nation’s strategic petroleum reserve at Big Hill SPR site in Jefferson County south of Beaumont in southeast Texas. DOE announced a purchase plan in May to refill the emergency stockpile after a record […]
Knight Energy Services acquires Odessa’s Platinum Pipe Rentals
Houston-based Knight Energy Services, portfolio company of private equity firm Voyager Interests, said last week it acquired Odessa’s Platinum Pipe Rentals. The combined business will have 18 locations across the nation with a fleet of more than 200,000 pieces of rental tools and equipment, including more than seven million feet of drill pipe and tubing. […]
Legislature, governor continue Texas Produced Water Consortium
Senate Bill 1047 in the recent 88th session of the Texas legislature to continue the Texas Produced Water Consortium was signed into law May 13 by Gov. Greg Abbott. The consortium was created in 2021 to study the economics, treatment technologies, and environmental and public health considerations for beneficially using produced water outside the oil […]
Mewbourne, Endeavor rank among top 5 of Enverus private operators list
Two companies that operate primarily in Permian Basin are among the top five in Enverus Intelligence Research’s list of the top 100 private oil and gas producers in the U.S. based on gross operated production in 2022. Rockies operator Continental Resources, a newcomer to Enverus’ chart, leads the list at 591,315 boed. Permian operators Mewbourne […]
New Mexico board approves new rule to curb oilfield emissions
New Mexico’s environmental improvement board recently approved a new rule to curb oilfield emissions that cause ground-level ozone. The so-called “ozone precursor rule” is intended to reduce this pollutant in areas where fossil fuel operations elevate it to levels deemed unsafe. Advocates told the Santa Fe New Mexican that the new regulation “will make New […]
Production in Texas, New Mexico increases, Enverus expects growth to accelerate
Texas and New Mexico continue to grow crude oil production, according to U.S. Energy Information Administration, and Enverus Intelligence Research said this week it “expects oil growth to accelerate” in the second half of the year. EIA said Texas production averaged 5.4 million barrels per day in March – up 97,000 b/d over February and […]
VTX Energy Partners acquires additional acreage in southern Delaware Basin
VTX Energy Partners, upstream company of Vitol, said Monday it will acquire 12,000 net leasehold acres contiguous with the Delaware Basin Resources position it acquired in March. The deal brings its total southern Delaware Basin position to 47,000 net acres. VTX said it agreed to acquire assets comprised of leasehold, production and associated water infrastructure […]
IEA: More investment in solar energy than oil for the first time last year
Global investment in solar outpaced investment in oil for the first time last year, according to a report from International Energy Agency. As reported May 29 by CBS News, IEA said since 2018 more funding has been invested in clean-energy development than into fossil fuels, and the gap continues to grow. Last year a record […]
U.S. rig count declines 10.7 percent this year from 779 to 696, Permian falls to 348
Baker Hughes’ count of active oil and gas drilling rigs as of June 2 in U.S. declined for the fifth straight week to 696. The count was down from 711 the previous week, 779 to start the year and 727 a year ago. The U.S. rig count is down 10.7 percent this year from 779 […]
Three Texas projects receive DOE grants for carbon management
Three projects in Texas were among 12 projects in seven states selected for grants in the latest round of funding from U.S. Department of Energy to boost the nation’s carbon management. DOE announced $251 million for 12 CCS projects to expand carbon dioxide transportation and storage infrastructure to help reduce CO2 emissions from power generation […]
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