U.S. Energy Information Administration said Thursday the nation’s power plant operators generated 6.9 million megawatt hours (MWh) of electricity from natural gas on a daily basis in the lower 48 states July 9.  It’s probably the most in history and certainly since at least Jan. 1, 2019, when EIA began collecting hourly data about natural […] The post U.S. operators generate record megawatt hours of electricity from natural gas appeared first on Permian Basin Oil and Gas Magazine ..read more

Katy-based U.S. Silica said last week its previously announced agreement to be acquired by funds managed by affiliates of investment firm Apollo Global Management was approved by the company’s stockholders.  Closing of the all-cash transaction valued at $1.85 billion is expected by the end of 2024Q3. U.S. Silica is a diversified industrial minerals company, logistics […] The post U.S. Silica now private after approval of acquisition by Apollo Global appeared first on Permian Basin Oil and Gas Magazine ..read more

Newport Beach-based Clean Energy Fuels said Wednesday it started construction of a renewable natural gas production facility at South Fork Dairy in Dimmitt in Castro County.  Groundbreaking occurred for a facility that will produce RNG, an ultra-clean transportation fuel that is made from organic waste and receives a negative carbon intensity score.  South Fork Dairy […] The post Clean Energy Fuels starts construction of RNG plant in Dimmitt appeared first on Permian Basin Oil and Gas Magazine ..read more

For years, the Permian Basin Petroleum Association has been the leading proponent of domestic energy, rallying around our nation’s need to establish a domestic energy policy that promotes places like “Midland, not Moscow.” And this July while we celebrate the 248th anniversary of the founding of our United States, our efforts to encourage natural resource […] The post Let Energy Freedom Ring appeared first on Permian Basin Oil and Gas Magazine ..read more

U.S. Production. Rystad Energy is out with a U.S. production forecast through 2025. Rystad Energy expects onshore U.S. Lower-48 production growth to be concentrated in the Permian. After growing about 350K bpd between the fourth quarter of 2022 and the fourth quarter of 2023, this year Rystad Energy expects fourth quarter combined Bakken, Eagle Ford, and […] The post Rig Counts, Consolidation, Super DUG, and E-Fleets appeared first on Permian Basin Oil and Gas Magazine ..read more

Enverus said last week the number of frac crews working in Permian Basin grew as of June 28 to 114 from 108 the previous week.  The count is down from 139 a year ago.  Other leading regions include Rockies with 30 crews (up from 28 previous week, down from 69 a year ago), Gulf Coast with 26 crews (up from 24 previous week, down from 53 a year ago) and Eastern with 14 (up from 12 previous week, down from 31 a year ago). Enverus said July 16 that ExxonMobil leads both U.S. and Permian Basin in active rigs.  In the U.S. as of July 12, ExxonMobil leads with 38 rigs (down from 39 wee ..read more

The weekly rig count by Houston-based Baker Hughes shows 305 rigs in Permian Basin for the fourth straight week.  It’s been 13 weeks since Permian recorded an increase (up 2 to 318 April 19).  A year ago Permian reported 333 rigs. Also, U.S. added 2 rigs to 586 (669 a year ago), and there were 276 in Texas (276 week ago, 322 year ago) and 108 in New Mexico (107 week ago, 113 year ago) as of July 19. Eddy County, N.M., added a rig last week for 53 to extend its lead over Lea, N.M., with 51 (unchanged).  There are 31 rigs in Martin (unchanged), 26 in Reeves (up 2) and 22 each in L ..read more

Dallas-based Energy Transfer said last week it formed a joint venture with Sunoco to combine the two companies’ crude oil and produced water gathering assets in the Permian Basin.  The JV will be operated by Energy Transfer and will include more than 5,000 miles of crude oil and water gathering pipelines and crude oil storage capacity of more than 11 million barrels.  Energy Transfer said July 16 it will have 67.5 percent interest with Sunoco holding 32.5 percent. Not included in the JV is Energy Transfer’s long-haul crude pipeline network that transports crude from Permian Basin to ..read more

The Permian Basin is the undisputed leader in American oil and natural gas production—with all due respect to our colleagues and compatriots in North Dakota. With this stature comes enormous responsibilities, not just from the oil and gas industry and its workers, but across the states and counties of the Permian as well. Being so far removed from population centers, the Permian is a frontier where thrives the grit and can-do, will-do attitude of the people who live here. Given how environmentally challenging and physically remote the Permian is, it is not surprising that some will say it is n ..read more

Geologists and engineers from Railroad Commission of Texas will consult with environmental experts from other states to analyze an agency program that protects underground sources of drinking water.  The commission said last week it requested the Groundwater Protection Council, an organization of groundwater experts, to conduct an independent peer review of its Class II underground injection control.  Class II injection wells are used for oil and gas operations such as enhanced oil recovery, disposal of produced water, and underground hydrocarbon storage. The council includes more th ..read more