My Ethics class interviewed a successful Harvard MBA who also had a law degree from another Tier One university. He worked for many years in the oil and gas industry, including, at one point, working for three Fortune 500 Corporations in Midland, Houston, San Antonio, India, and Abu Dhabi. Our interviewee, who wants to be […]
What’s So Smart About Artificial Intelligence?
Click here to listen to the Audio verison of this story! The boom/bust cycle has challenged the oil industry in many ways over the decades. Since the turn of the millennium, the newest challenge has been how to adopt new technology when there’s the frantic activity of a boom one minute and the layoffs and […]
Permian Basin drives growth in tight oil production in U.S. onshore lower 48
Onshore crude oil production in U.S. lower 48 states has more than tripled since January 2010, according to U.S. Energy Information Administration, driven by growth in tight oil production in Permian Basin. Onshore production includes both legacy oil production primarily from vertically drilled wells and newer tight oil production primarily from horizontally drilled wells. EIA […]
DOE cancels 24 financial awards for clean energy projects, including 4 in Texas
Chris Wright, U.S. energy secretary, said last week the U.S. Department of Energy is cancelling 24 awards issued by the Office of Clean Energy Demonstrations totaling more than $3.7 billion in taxpayer-funded financial assistance. Sixteen of the 24 awards were signed between election day Nov. 5, 2024, and inauguration day, Jan. 20, 2025. The awards, […]
Diamondback subsidiary Viper acquires Sitio Royalties in $4.1 billion deal
Midland-based Viper Energy, subsidiary of Diamondback Energy, said Tuesday it agreed to acquire Sitio Royalties in an all-equity transaction valued at $4.1 billion. The agreement, which includes Sitio’s $1.1 billion of debt, is expected to close in 2025Q3. Diamondback will own 41 percent of Viper’s outstanding common stock after closing.” “This combination creates a leader […]
Permian People June 2026
ExxonMobil announced April 2 that Karen T. McKee, president of ExxonMobil Product Solutions Company, was to retire effective May 1. The Board of Directors appointed Matt Crocker president, ExxonMobil Product Solutions Company and vice president Exxon Mobil Corporation. He succeeded McKee May 1. Crocker, who has been ExxonMobil’s President/Global Business Solutions since 2023, joined the […]
Permian rig count falls to 278; U.S. dips to 563; Eddy County, N.M., returns to 50
Counts of active drilling rigs in Permian Basin and U.S. by Baker Hughes continue sinking to low counts last reported in November 2021. In the weekly report of May 30, there were 278 rigs in Permian Basin (down 1 from 279 one week earlier, down 32 from 310 a year earlier) and 563 in U.S. […]
ProPwr division of ProPetro secures contract for power generation in Permian
Midland-based ProPetro Holding Corp. recently said its ProPwr division secured its first contract to commit 80 megawatts of power generation for an exploration and production operator in Permian Basin. ProPetro said May 20 that asset deployment is scheduled to begin in 2025 third quarter and continue through 2026. ProPwr will deliver turnkey power to a […]
Matador, San Mateo Midstream reach startup of Marlan plant in Eddy County
Dallas-based Matador Resources and affiliate San Mateo Midstream last week announced startup of an expansion of San Mateo’s Marlan cryogenic natural gas processing plant in Delaware Basin. The expansion adds 200 million cfd of natural gas capacity to the plant in Eddy County, N.M., to bring total capacity to 260 million cfd. Joseph Wm. Foran, […]
The Changing Landscape of Leasing and Minerals
Click here to listen to the Audio verison of this story! The flurry of merger and acquisition (M&A) activity over the last two years has changed the minerals landscape in the Permian Basin, along with most producing basins in the United States. Fewer operators control larger acreages. Also, the definition of what constitutes a […]
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