For the first time since March, Permian Basin, Texas, New Mexico and U.S. each posted an increase in rig counts in Baker Hughes’ weekly report of Aug. 21. U.S. added rigs for the first time since March 6 – up 10 in the past week to 254 (from 2020 low of 244). Permian Basin added […]

Irving-based HomeBound Resources said Aug. 10 it has acquired assets in Midland Basin in Glasscock, Martin, Midland and Reagan counties in Texas and Lea County in New Mexico for $4.4 million. The transaction includes 55 drilled wells and 106 acres of proven undeveloped reserves with about 50 locations and was made on behalf of an […]

Graham-based Barron Petroleum said last week it discovered a field of 13,000 acres in Val Verde County in west Texas estimated to hold 417 bcf or 74.2 million barrels in oil and gas reserves. The family-owned company worked with geoscientist William J. Purves since 2018. Fort Worth Star Telegram said Barron successfully drilled two wells […]

Houston-based Tellurian reportedly will defer construction of Permian Global Access pipeline and 2 other of 4 pipelines proposed to supply natural gas to Driftwood LNG plant in Lake Charles, La. By defering construction the company hopes to trim 30 percent of Phase I costs. Final investment decision is expected in 2021. Permian Global Access is […]

Mountain View, Calif.-based Kairos Aerospace completed its first of two surveys of oil and gas wells and gas pipelines in Permian Basin this year. Kairos surveyed more than 62,000 wells and almost 25,000 miles of pipelines from more than 800 companies over 6,444 square miles in west Texas and southeastern New Mexico. Kairos said its […]

Government officials in New Mexico said this week the amount of money flowing into the state’s largest permanent fund has declined dramatically as the pandemic and resulting oil price decline curtailed production in Permian Basin. Santa Fe New Mexican reported Thursday monthly contributions to the state’s Land Grant Permanent Fund fell to $37.2 million in […]

Oslo-based Rystad Energy said Aug. 14 most U.S. onshore operators will restore most shut-in oil volumes by end of 2020Q3. Rystad’s report was based on analysis of quarterly reports of 25 public oil operators. Curtailments peaked in May with a net 772,500 barrels per day taken off the market by 25 operators. That decreased to […]

Texas, which started 2020 with 404 oil and gas drilling rigs, idled 4 rigs last week for a count of 100 active rigs, according to the weekly report of Aug. 14 from Baker Hughes. New Mexico lost another rig to fall to 45 (105 to begin 2020), and U.S. idled 3 rigs for a new […]

Denver-based Ovintiv and Center-based High Roller Wells filed permits with Railroad Commission of Texas for 6 wells each in Permian Basin last week. Houston Chronicle reported Ovintiv plans to drill 6 horizontal wells in Howard County targeting Spraberry to depths of 10,000 feet. And High Roller Wells plans to drill 6 injection wells in Winkler […]

Permian Basin is providing most of the growth in numbers of hydraulic fracturing crews returning to work in U.S. Houston investment bank Tudor Pickering Holt & Co. said the number of active frac crews grew by 6.8 percent in July to nearly 100 (more than 300 in July 2019). Permian Basin accounted for 10 of […]