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The Latest Breaking News from Permian Basin

Exxon’s Potential Pioneer Deal: Short-Term Gains for Long-Term Pain

Exxon Mobil is hunting for more Permian Basin assets. That’s why informal talks with Pioneer Natural Resources are happening. The move might seem like a natural for XOM, but it could turn out to be one acquisition too many. Here’s why.

Barchart

Despite Rules, New Mexico Oil and Gas Producers Keep Polluting

A tour of the Permian Basin highlights weak enforcement by state and federal agencies.

Capital & Main

U.S. Permian Basin oil production — and profits — have surged

President Biden has been asking for more oil. Producers now think prices will be high enough for the next several years to justify it.

Axios

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Flaring and Venting Spike in December Cold Snap

Questions over whether cold weather in New Mexico an 'emergency.'

Capital & Main

Texas environmentalists push the EPA to crack down on methane emissions, saying state agencies have “failed us”

Commenting on the EPA’s proposed new rule to reduce methane leaks nationally, environmentalists said Texas regulators are hesitant to address emissions of the climate super-pollutant.

The Texas Tribune

EPA moves away from Permian Basin air pollution crackdown

The oil industry pushed hard against the proposal to issue an ozone nonattainment designation, which would have required that companies reduce oilfield emissions.

The Texas Tribune

EPA Backs Down from Permian Air Pollution Crackdown

Oil sector advocates pushed hard against an ozone nonattainment designation, which would have required oilfield emissions reductions.

Texas Observer

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$To ease looming West Texas water shortage, oil companies have begun recycling fracking wastewater$

To ease looming West Texas water shortage, oil companies have begun recycling fracking wastewater

Oil and gas companies are increasingly reusing “produced water” as West Texas aquifers are being depleted and the practice of injecting wastewater into disposal wells triggers more earthquakes.

The Texas Tribune

Texas natural gas drops toward zero as output swamps pipelines

Natural gas prices in the Permian Basin of West Texas are plunging toward zero as booming production overwhelms pipeline networks, creating a regional glut of the fuel.

Tribune News Service

Why Nebraska’s fall from grace is a cautionary tale for Texas, Oklahoma ahead of SEC move

These are exhilarating times for the football programs at Oklahoma and Texas. While the schools patiently wait to be showered with millions in SEC TV money, the Sooners sit at No. 6 in the current AP rankings, top dogs in the Big 12 once more. At No. 22, Texas isn’t…

Tribune News Service

‘Wildfire of disinformation’: how Chevron exploits a news desert

As the closures of newspapers leave Americans struggling for information, Chevron has swooped in to serve up a mixture of local news and propaganda

The Guardian - US

G2 Energy Issues Shares to the Sellers of Masten Unit

Vancouver, B.C. - TheNewswire - September 2, 2022 - G2 Energy Corp. (CSE:GTOO), (CSE:GTOO), (OTC:GTBE), (FWB:FKN:UD9) (the "Company" or "G2") announces that pursuant to the previously announced news releases, on June 1, 2022, in connection with the acquisition of the Masten Unit (an oil and gas producing field) (the "Masten Unit")…

Benzinga

Texas’ oil and gas industry will produce “massive amount” of toxic wastewater with few reuse options, study finds

Oil and gas companies produce 3.8 billion barrels of wastewater per year in the arid Permian Basin. A state consortium is trying to figure out whether it can be reused.

The Texas Tribune

EPA says it is looking for “super-emitters” of methane gas in Texas’ Permian Basin

The federal environment agency says it will continue flyovers of the Permian Basin in Texas and New Mexico until Aug. 15 using infrared cameras to survey oil and gas operations.

The Texas Tribune

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The Independent UK

EPA announces flights to look for methane in Permian Basin

The Environmental Protection Agency says it will conduct helicopter overflights to look for methane “super emitters” in the nation’s largest oil and gas producing region

The Independent UK

Hidden Menace: Massive methane leaks speed up climate change

New aerial surveys show that massive amounts of methane are venting into the atmosphere from oil and gas operations across the Permian Basin

Benzinga

G2 Energy Signs Purchase and Sale Agreement for Additional Oil Properties

Vancouver, B.C. - TheNewswire - July 7, 2022 - G2 Energy Corp. (CSE:GTOO), (CSE:GTOO), ((, (FWB:1NZ.F) (the "Company" or "G2") is pleased to announce the Company's wholly owned subsidiary G2 Energy TX2, Inc. has signed a Purchase and Sale Agreement (the "PSA") dated April 12, 2022 with subsequent amendments dated June…

The Street

North America Crude Oil Steps Up With More Supply

Despite a robust list of headwinds faced by producers, including labor shortages and weather-related disruptions, North American crude output is expected to keep climbing and is even poised to set new records.

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Investors Business Daily

Is Chevron Stock A Buy Following Recent Record Earnings? Here's What Charts Show

Chevron has been hindered by falling crude oil prices as the stock continues to fall below key moving averages.

The Independent UK

Ukraine war ups pressure for US oil; industry faces hurdles

President Joe Biden’s move last week to ban oil from Russia over its invasion of Ukraine was met with calls to boost U.S. production to help bring down soaring gasoline prices

Benzinga

Occidental's 1PointFive Sells Carbon Removal Credits To Airbus

1PointFive, a subsidiary of Occidental Petroleum Corp's (NYSE:OXY) Oxy Low Carbon Ventures business, entered an agreement for the sale of 400,000 tonnes of carbon removal credits from its planned first Direct Air Capture (DAC) facility using Carbon Engineering's DAC solution to Airbus SE (OTC:EADSY). Deal terms were not disclosed. Airbus pre-purchased the capture and…

AFP

Shaken by fracking quakes, Texas is forced to act

Houston (AFP) - "You get used to it.The walls shake," says Sam, a resident of Midland, a town in west Texas where hydraulic fracturing for oil and gas -- known as "fracking" -- is causing more and more earthquakes.

Financial Times

Permian Basin: high oil price breathes new life into US shale

The 2020 price drop almost killed the US industry, but oil production is at record levels despite political pressure

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