Weir Oil and Gas, an international company that serves the upstream market, opened a $30 million service center in David Mims Business Park last week. The service center of 92,000 square feet combines Weir’s three Permian Basin facilities into one location for 150 employees. The new plant offers pressure pumping and pressure control assembly, repair […]
Danos to construct central tank battery in Midland
Gray, La.-based Danos said April 10 it has been awarded a contract to construct a central tank battery in Midland for an unnamed Texas-based independent exploration and production company. Danos’ Amelia Integrated Services will fabricate pipine and structural components that will be shipped to the installation site for assembly and construction. The three-month project will […]
Texas Petro Index climbs to 213.2; rig counts, production, employment up
Karr Ingham’s Texas Petro Index increased for the second consecutive month to 213.2 in February from 212.5 in January. The index had declined the two previous months from 213.3 in October to 212.4 in November and 212.2 in December. The index by Ingham, petroleum economist from Amarillo, is based on a comprehensive set of economic […]
Texas rig count returns above 500; U.S. count above 1,000 for past year
Baker Hughes’ count of active oil and gas rigs returned above 500, according to the April 12 report, after three weeks below 500. Three rigs were added in Texas in the past week for a new total of 502. Permian Basin also added 2 rigs to reach 464, but New Mexico declined 2 to 105, […]
Permian oil production forecast: 4.136 million barrels per day in May
The latest Drilling Productivity Report from the U.S. Energy Information Administration forecasts crude oil production in Permian Basin to remain above 4 million barrels per day in May. The April 15 report says Permian production is expected to grow to 4.136 million b/d in May from 4.094 million b/d in April – 53 percent of […]
Chevron acquires Anadarko to create Permian’s biggest producer
Chevron’s pending acquisition of The Woodlands-based Anadarko for total transaction value of $50 billion increases Chevron’s Permian Basin output by about 50 percent, according to drillinginfo, and makes it the largest producer in the basin. Anadarko’s Delaware Basin acreage is in the heart of Chevron’s holdings in the basin, creating a 75-mile-wide corridor that allows […]
To Turn Up the Pressure
The year 2019 began with the the frac industry under pressure as a whole, and pressure pumpers were no exception. A sudden oil price drop in December, coupled with downward pricing impetus from backlogged pipelines and year-end budget exhaustion led to a drop in completions—and a freefall in demand for fracturing crews and frac sand. […]
NextDecade reaches 20-year LNG agreement with Shell NA
Houston-based NextDecade said April 1 it has entered into a 20-year LNG supply agreement with Shell NA. The agreement with Shell is for two million tonnes per year of liquefied natural gas from NextDecade’s Rio Grande LNG export project (27 million tonnes per year) in Brownsville. NextDecade said the agreement is “the first-ever long-term contract […]
Callon Petroleum sells non-core assets in Midland Basin
Houston-based Callon Petroleum said Monday it has reached agreement to sell certain non-core assets in the Midland Basin for an initial price of $260 million. The assets include Callon’s Ranger operating area in the southern Midland Basin of 9,850 net Wolfcamp acres, more than 80 producing horizontal wells, and 70 net delineated locations. Daily production […]
Texas ends 12 weeks of declining rig counts by adding 8 for 499
A 12-week streak of declining rig counts in Texas ended with Baker Hughes’ April 5 report that the state added 8 in the previous week to reach 499 active rigs. Baker Hughes said rigs also were added in Permian Basin, New Mexico and U.S. in the past week. As of April 5 there were 462 […]