Firehouse Subs blazed its way onto the Hobbs scene with its grand opening and ribbon-cutting ceremony Friday. The event was supported by more than 40 people including at least a dozen members of the Hobbs Fire Department. Interim City Manager and Fire Chief Manny Gomez welcomed Firehouse Subs, giving franchise co-owner Jack Kassis the symbolic key to the city, and …

Diamondback Energy to acquire Energen MIDLAND, Texas–(BUSINESS WIRE) Diamondback Energy, Inc. and Energen Corporation announced that they have entered into a definitive agreement under which Diamondback will acquire Energen in an all-stock transaction valued at approximately $9.2 billion, including Energen’s net debt of $830 million as of June 30, 2018. The consideration will consist of 0.6442 shares of Diamondback common …

EnLink Midstream to Build New Delaware Basin Crude Oil Gathering System DALLAS, June 27, 2018 /PRNewswire/ — The EnLink Midstream companies (EnLink), EnLink Midstream Partners, LP (NYSE: ENLK) (the Partnership or ENLK) and EnLink Midstream, LLC (NYSE: ENLC) (the General Partner or ENLC), announced that the partnership will construct a new crude oil gathering system in the Northern Delaware Basin called the Avenger Crude Oil Gathering …

Kinder Morgan, EagleClaw, Apache announce development of the Permian Highway Pipeline Project HOUSTON–(BUSINESS WIRE)–Jun 25, 2018–Kinder Morgan Texas Pipeline LLC (KMTP), a subsidiary of Kinder Morgan, Inc., EagleClaw Midstream Ventures, LLC, a portfolio company of Blackstone Energy Partners, and Apache Corporation announced they have signed a letter of intent for the development of the proposed Permian Highway Pipeline Project (PHP …

OPEC countries to pump more oil to contain price increase By KIYOKO METZLER, Associated Press VIENNA (AP) — The countries of the OPEC cartel agreed on Friday to pump 1 million barrels more crude oil per day, a move that should help contain the recent rise in global energy prices. Questions remain, however, over the ability of some OPEC nations — …

Supreme Court: Online shoppers can be forced to pay sales tax By JESSICA GRESKO, Associated Press WASHINGTON (AP) — States will be able to force shoppers to pay sales tax when they make online purchases under a Supreme Court decision Thursday that will leave shoppers with lighter wallets but is a big win for states. More than 40 states had asked …

OPEC oil ministers gather to discuss production increase By KIYOKO METZLER, Associated Press VIENNA (AP) — The oil ministers of the OPEC cartel were gathering Tuesday to discuss this week whether to increase production of crude and help limit a rise in global energy prices. The officials were arriving in Vienna ahead of the official meeting Friday, when they will also …

Supermajors need to invest nearly $30 billion in Permian Basin through 2020 HOUSTON–(BUSINESS WIRE)–Jun 18, 2018–A new energy report from business information provider IHS Markit says that the three supermajors active in the Permian Basin — Exxon Mobil, Royal Dutch Shell and Chevron  — will need to invest nearly $30 billion in the oil and gas play through 2020 to …

New IHS Markit Outlook – “Stunning” Permian Basin oil production to more than double from 2017-2023, exceeding expectations (BUSINESS WIRE)–Jun 13, 2018–Oil production in the Permian Basin, already a major force in global supply growth, will rise nearly 3 mbd by 2023—a level of growth exceeding most recent estimates, a new outlook by business information provider IHS Markit (Nasdaq: INFO) …

Trump declares oil prices too high, blames OPEC WASHINGTON (AP) — President Donald Trump is declaring that oil prices are too high and blaming a coalition of countries that control a significant portion of the world’s supply of crude petroleum. Trump tweeted on Wednesday: “Oil prices are too high, OPEC is at it again. Not good!” OPEC is the Organization …