The Associated Press reported an explosion caused the 14 tanks to go up in flames and caused an oil and brine spill.

Schlumberger on Friday reported its first profitable quarter in a year, a further sign that the industry is recovering from recent oil busts and the economic fallout from the ongoing global pandemic.

Schlumberger NV on Friday joined rivals in predicting a steady recovery in the oil industry this year after the world’s top oilfield services provider’s fourth-quarter results beat estimates, aided partly by growing demand for drilling.

Oilfield equipment and services provider Baker Hughes Co on Thursday joined larger rival Halliburton Co in saying the energy industry’s worst downturn in decades would turn a corner this year.

Water gathering volumes are expected to average 60 to 70 MBbl/d for full year 2021.

One of the Permian Basin’s most dangerous intersections will be a lot less risky in two years, when the Texas Department of Transportation inaugurates an overpass on the west side of town at State Highways 302 and 115. The $55.5-million project will also be a boon to the energy business as the passage of heavy oilfield trucks is greatly facilitated, said Midland-Odessa Transportation Alliance Vice President Dustin Fawcett of Midland. Construction will start immediately.

New Mexico’s Senate agreed to take up discussion on a bill that would increase penalties for produced water spills by the oil and gas industry, while also requiring companies disclose more about what’s in the water and banning the use of freshwater in most cases.

Liebman Group and Black Cliffs Partners announce the acquisition of Pine Island Chemical Solutions, a regional chemical provider in the oil & gas industry.

Lawmakers to weigh whether wastewater from oil fields could replenish the state's aquifers

In total, companies recorded spilling approximately 4,761 barrels of oil, 32,149 barrels of produced water and 951 barrels of other materials last year, according to a Star-Tribune analysis. That’s a total of about 19,475 barrels fewer than the year before.

NGL expects to use the net proceeds of the offering, together with borrowings under a new $500.0 million asset-based revolving credit facility, to (i) repay all outstanding borrowings under and terminate NGL’s existing revolving credit facility, (ii) repay all outstanding borrowings under and terminate NGL’s $250.0 million term credit agreement and (iii) to pay fees and expenses in connection therewith.

EDF tracks state trends in oil and gas regulation related to the protection of land, water and local communities, reporting notable state actions each year.

"My bill would require that all oil and gas operators change to clean brine and stop wasteful freshwater use that causes unnecessary draining of aquifers and the Pecos River."