U.S. Energy Information Agency expects another record month for crude oil production in Permian Basin.  In its Dec. 13 drilling productivity report, EIA forecast production of 5.031 million barrels of crude oil per day in January 2022 – the second straight month for a record forecast and the first monthly forecast of at least 5 […]

Houston-based Cimarron, global provider of environmental and emissions control equipment and services and parent company of Midland’s Hy-Bon Engineering, is one of 12 companies selected by U.S. Department of Energy to participate in its emissions reduction program known as REMEDY.  Cimarron will receive a grant of $1 million for its hybrid torch design coupled with […]

Baker Hughes said Permian Basin extended its streak of no declining rig counts to 24 weeks as of Dec. 10.  Permian Basin added 3 rigs in the previous week for a new total of 286 (168 a year ago).  The basin last had a declining rig count June 25.  Also, there are 272 rigs in […]

Houston-based ConocoPhillips said last week its annual production for 2022 is expected to be 1.8 million boed, including 200,000 boed from its recent acquisition of Shell properties in Permian Basin.  ConocoPhillips expects companywide capital expenditures of $7.2 billion next year (up from $5.3 billion forecast for 2021), including $700 million in Permian Basin.  The 2022 […]

ExxonMobil and San Francisco-based climate tech firm Scepter said Monday they will work together to deploy advanced satellite technology and proprietary data-processing platforms to detect methane emissions.  In phase one, they will design and optimize a plan for satellite placement and coverage to capture methane emissions from ExxonMobil’s operations in Permian Basin.  Scepter will deploy […]

Bloomberg reported this week that the Committee on Science, Space and Technology in the U.S. House of Representatives sent letters to 10 oil companies operating in Permian Basin asking them to disclose and stop leaks of methane.  Among the companies were Pioneer Natural Resources, ExxonMobil, Occidental Petroleum, ConocoPhillips and Chevron.  Rep. Eddie Bernice Johnson, D-Texas, […]

New Mexico led major producing states with the addition of 5 oil and gas drilling rigs in the past week, according to a weekly report Dec. 3 from Baker Hughes.  New Mexico has 88 active rigs – up 47 percent from a 2021 low of 60 in March.  Baker Hughes said there also are 283 […]

Texas’ statewide flaring fell to a record low in September, according to the latest data from Railroad Commission of Texas.  The commission said Dec. 2 the percentage of natural gas flared in Texas fell from a previous record low of 0.61 percent in July 2021 to a new record low of 0.21 percent in September […]

Oklahoma City-based Devon Energy said last month in its 3Q operations announcement that production in Delaware Basin averaged 409,000 boed (52 percent oil) in 2021Q3 – an increase of 39 percent from 2020Q3.  The growth was driven by 52 new wells that started production on Devon’s 400,000 net acres in New Mexico and Texas.  Devon […]

San Ramon, Calif.-based Chevron said in its upstream business in 2022 it will spend $8 billion on currently producing assets, including $3 billion for unconventional development in Permian Basin.  Also, its $15.3 billion capital and exploratory spending program for 2022 (20 percent more than is expected in 2021) will include $1.5 billion for other global […]