Midland-based Dawson Geophysical said recently it reached agreement with Wilks Brothers and Breckenridge Geophysical to purchase substantially all assets of Breckenridge for seismic data acquisition.  The companies said they plan to begin integration of the acquired assets into Dawson’s operations “as soon as possible.”  Total consideration for the transaction is 7 million shares of Dawson […]

Permian Basin added drilling rigs for the third straight week and for the fifth time in the last six weeks, according to the weekly report of April 21 from Baker Hughes.  Permian has 358 rigs after adding 2 in the past week (334 a year ago).  Also as of April 21, there were 377 rigs […]

Federal Energy Regulatory Commission last week approved certificates for two multibillion-dollar LNG facilities at Port of Brownsville for Houston-based companies.  FERC approved at its meeting Thursday the Rio Grande LNG by NextDecade and Texas LNG Brownsville by global energy developer Glenfarne, according to FERC acting chairman Willie Phillips.  Analysts said the approvals could move the […]

International Energy Agency said in the April edition of its Oil Market Report that world oil demand will climb by 2 million barrels per day in 2023 to a record 101.9 million b/d.  IEA said China will make up more than half of the global increase.  The report added, “While oil demand in developed nations […]

A recent analysis by Moody’s Investors Service reported by Oil & Gas Journal said the outlook for the global energy industry is stable over the next 12-to-18 months “with earnings remaining elevated as the industry steps down from exceptionally high gains in 2022.”  Moody’s expects E&P capital spending to rise by 15 percent and production […]

East Daley Analytics said recently that WhiteWater Midstream received a permit from Railroad Commission of Texas March 8 to build Blackfin, a 48-inch pipeline of 193 miles from Colorado County to Jasper north of Beaumont in southeast Texas.  It’s reportedly intended to intersect with and be an extension of Matterhorn Express, a 2.5 Bcfd pipeline […]

Denver-based Liberty Energy said last week it is acquiring Siren Energy, an integrated natural gas compression and CNG delivery business focused in the Permian Basin, for $78 million and launching a new unit, Liberty Power Innovations, an integrated alternative fuel and power solutions provider for remote operations.  Initial focus for LPI will be CNG supply, […]

Houston-based ConocoPhillips said last week its core Permian Basin assets will grow production about seven percent each year through 2032.  Nick Olds, executive vice president, said April 12 that Delaware Basin will be the primary growth engine for the company, and the Midland Basin, which accounts for about one-third of ConocoPhillips inventory, will grow more […]

Ten counties in the nation’s leading oil-producing region have at least 10 active oil and gas drilling wells, according to the weekly report of April 14 from Baker Hughes.  Eddy (unchanged from last week with 53 wells) and Lea (up 1 to 48 rigs) counties in New Mexico continue to lead the Permian Basin followed […]

In the latest drilling productivity report from U.S. Energy Information Administration, Permian Basin continues to grow production of crude oil and natural gas.  EIA said Monday that oil production in Permian will grow by 13,000 barrels per day from 5.681 million b/d in April to 5.694 million b/d in May.  Across the seven major producing […]