Tulsa-based Laredo Petroleum said recently in its quarterly financial report that it will send a completions crew to Howard County in September to begin operations on 15 wells in 2020Q4. Well costs are expected to be $550 per lateral foot. Laredo expects the additional activity to improve production beginning in 2021Q1. Jason Pigott, president and […]

Keep Texas Moving, a coalition of Texas Association of Business aimed at promoting road improvements, visited west Texas Monday and called for continued investment in infrastructure. “Roads are not keeping pace,” Aaron Cox, TAB senior vice president, said. “Texas is adding over a thousand people and hundreds of vehicles a day. The increase in commercial […]

Austin-based Parsley Energy, independent focused on Permian Basin, said last week in its quarterly financial report that it reactivated 2 rigs and 2 hydraulic fracturing spreads in July. Parsley’s 2020Q4 plans include stabilized activity of 4 or 5 drilling rigs and 1 or 2 frac spreads. The company operated 15 development rigs and 5 frac […]

After a record high of 8.0 bcfd in January, U.S. exports of LNG fell to 3.1 bcfd in July, according to a report this week from U.S. Energy Information Administration. The most affected LNG terminals were Corpus Christi and Freeport in Texas and Sabine Pass in Louisiana. EIA estimated about 46 cargoes were canceled in […]

U.S. drilling rig count resumed its decline last week, falling by 4 rigs to 247 from 251 previous week and 934 previous year, according to Aug. 7 report from Baker Hughes. There were 122 rigs in Permian Basin (124 previous week, 444 previous year), 104 rigs in Texas (unchanged in previous week, 454 previous year) […]

Houston-based Occidental Petroleum said Monday in its quarterly financial report it plans to operate only 1 drilling rig in Permian Basin for the remainder of 2020 with plans to drill 12 to 20 wells compared to 118 wells during the first six months of 2020. Bloomberg said Oxy’s announcement illustrates “the scale of the shale […]

Houston-based EOG Resources led the state’s operators with 9 drilling permits filed last week with Railroad Commission of Texas, according to Houston Chronicle, followed by 8 permits by Hilcorp Energy and 6 each by Marathon Oil, ExxonMobil, ConocoPhillips and Lario Oil & Gas. For the week of July 29 to Aug. 4 ExxonMobil filed permits […]

Midland’s Diamondback Energy said last week in its quarterly financial report that its crude production in 2020Q2 fell to 176,323 barrels per day from 191,229 b/d in 2020Q1 with plans to operate 5 or 6 drilling rigs and 3 or 4 completion crews for the remainder of 2020. Diamondback drilled 37 gross horizontal wells in […]

Last week while on his first visit to Midland-Odessa as president, Donald Trump signed four energy infrastructure permits and officially extended export authorizations for LNG through 2050. Terms for LNG exports previously lasted 20 years. “The United States is now the No. 1 producer of oil and natural gas on the face of the earth,” […]

Texas Petro Index from Texas Alliance of Energy Producers fell to 157.5 for June for a decline of 24 percent since TPI was 207.1 a year ago. It was the 16th straight month for TPI from petroleum economist Karr Ingham to decline. Ingham said, “Crude oil prices declined sharply beginning in March along with the […]