U.S. Energy Information Administration said last week that marketed natural gas production from Permian Basin reached a new annual high of 16.7 billion cubic feet per day in 2021.  Permian Basin trails only Appalachian Basin (Ohio, Pennsylvania and West Virginia), which produced 34.8 billion cfd of marketed natural gas in 2021.  EIA said in its […]

Oil and gas operators in Permian Basin and elsewhere continued their pause in new drilling activity, according to the Baker Hughes report for June 3.  There were 342 rigs in Permian Basin (unchanged in past week, up 110 in past year), 357 in Texas (down 1 in past week, up 141 in past year), 98 […]

Texas added about 3,160 oilfield services jobs in May to grow the industry’s workforce in the state to 306,411, according to an analysis of preliminary data by Energy Workforce and Technology Council.  The council said the U.S. added about 4,775 jobs in May to grow the nation’s total to 628,793 in the industry.

Texas comptroller Glenn Hegar said this week the state received a record $666 million in oil production taxes in April and another $595 million in May.  In addition to being the highest monthly total in the state’s history, the April revenue was 99 percent higher than April 2021.  Natural gas production taxes were $339 million […]

Dallas-based Grey Rock Investment Partners – with interests in more than 2,500 wells in core areas of Delaware and Midland basins and four other plays – and Executive Network Partnering Corp. said recently they agreed to a $1.3 billion business combination that will result in the formation of publicly traded Granite Ridge Resources.  Grey Rock […]

Already Barnett Shale’s largest natural gas producer, Denver-based BKV Corp., subsidiary of Thai mining and power company Banpu, agreed to acquire remaining upstream and midstream assets in Barnett of ExxonMobil for $750 million plus contingent payments.  ExxonMobil said May 19 the deal is expected to close in 2022Q2 and provide BKV about 160,000 net acres […]

Minimal new drilling activity was reported by Baker Hughes for the week that ended May 27.  There were 342 active rigs in Permian Basin (down 1 in past week, up 109 in past year), 358 in Texas (up 1 in past week, up 140 in past year), 98 in New Mexico (unchanged in past week, […]

Oslo-based research firm Rystad Energy said May 19 total production in Delaware Basin is expected to reach a record 5.7 million boed in 2022.  “Spurred on by high oil prices and appealing well economies,” Rystad said, “total production is set to grow by around 990,000 boed – almost half of which (433,000 boed) is new […]

Houston-based Crestwood Equity Partners said last week it is acquiring assets in Delaware Basin and divesting assets to exit Barnett Shale.  Crestwood agreed to acquire from Sendero Midstream Partners for $600 million cash assets in Eddy County, including 350 million cfd of processing capacity, 140 miles of natural gas gathering lines, and more than 53,000 […]

Apache recently added a third drilling rig in Delaware Basin, and the Houston-based company said after that rig completes six wells it will move to Alpine High in Reeves County to drill two 3-well pads. Apache officials told Midland Reporter Telegram they “did not need natural gas at $9 per Mcf to make Alpine High […]