Crude production in seven major regions of U.S. is forecast to continue growing in December by U.S. Energy Information Administration.  EIA said in its latest drilling productivity report Nov. 14 that production is expected to grow by 91,000 b/d from November to 9.191 million b/d in December.  That includes a record 5.499 million b/d in […]

Midland-based Diamondback Energy made its second major acquisition in as many months with the Nov. 16 announcement that it is acquiring all leasehold interest and related assets of Lario Permian, subsidiary of family-owned Lario Oil & Gas. Value of the cash-and-stock transaction is $1.5 billion ($850 million cash). Closing is expected Jan. 31, 2023, for […]

A recent report in Houston Chronicle said the emerging sand mining industry in west Texas – virtually nonexistent a decade ago – includes seven mobile mines that save companies hundreds of thousands of dollars per well.  Research firm Rystad Energy told the Chronicle west Texas now has 24 sand mines, including seven mobile, to take […]

Texas and U.S. posted their highest counts of active drilling rigs so far this year in Baker Hughes’ weekly report of Nov. 11.  Texas had 373 rigs (up 4 in past week, up 109 in past year), and U.S. had 779 rigs (up 9 in past week, up 223 in past year).  (Texas also had […]

Houston-based Select Energy Services said it completed the acquisition on Nov. 1 of Permian Basin water recycler Breakwater Energy Partners in a stock-for-stock transaction (assumed $12.6 million of debt).  Breakwater provides water infrastructure, recycling, transfer and disposal to operators in Permian Basin with complementary water logistics in Eagle Ford.  Breakwater operates four commercial recycling facilities […]

San Antonio-based Stakeholder Midstream said Nov. 1 it will install a second treating and processing train at its Camp Viejo facility in Yoakum County to serve producers in Permian Basin’s northwest shelf in Yoakum, Lea and surrounding counties.  The second train (80 million cubic feet per day) will double the inlet gas capacity to 160 […]

Midland-based Diamondback Energy said its revenues grew in 2022Q3 as oil prices increased even though its production declined.  Diamondback produced 390,600 boed (224,300 b/d of oil) in 2022Q3 compared to 404,300 boed during 2021Q3.  Diamondback drilled 48 gross horizontal wells in Midland Basin and 11 gross horizontal wells in Delaware Basin in 2022Q3, and the […]

Houston-based Marathon Oil said Nov. 1 it agreed to acquire Eagle Ford assets of Ensign Natural Resources for $3 billion.  The transaction, expected to close by yearend 2022, nearly doubles Marathon’s position in Eagle Ford.  The acquired assets cover 130,000 net acres (99 percent operated) in Bee, DeWitt, Karnes and Live Oak counties in the […]

Count of active drilling rigs in Permian Basin remains 346 for the fourth straight week, according to Baker Hughes, as losses offset gains.  As of Nov. 4, there were 369 rigs in Texas (up 1 in past week), 106 rigs in New Mexico (unchanged) and 770 rigs in U.S. (up 2).  U.S. count included 2022 […]

Houston-based Enterprise Products Partners said last week its pipelines transported record volumes of products in 2022Q3.  A.J. (Jim) Teague, co-CEO, said Nov. 1, “During the third quarter, our pipelines transported a record 11.3 million barrels per day equivalent of NGLs, crude oil, natural gas, refined products and petrochemicals.  Enterprise’s natural gas pipelines transported a record […]