Baker Hughes said Friday the U.S. count of active drilling rigs fell for the eighth straight week, and rig counts also declined in Permian Basin and Texas. As of Sept. 1 there were 631 rigs in U.S. (632 week ago, 760 year ago), 319 in Permian Basin (320 week ago, 342 year ago), 306 in […]
Construction starts in Lincoln County, N.M., for massive wind energy project
Groundbreaking ceremony was held Friday in central New Mexico for Pattern Energy’s SunZia transmission and wind project, reportedly “the largest clean energy infrastructure project in U.S. history.” The 550-mile high-voltage transmission line will begin near Corona in Lincoln County southeast of Albuquerque and extend to south central Arizona. Pattern Energy said it will construct about […]
Coterra raises 2023 guidance for production in Permian, Anadarko, Marcellus
Houston-based Coterra Energy recently reported second quarter production that was 15,000 boed above high end of guidance, and the company increased fullyear guidance at midpoint by two percent. Coterra said Aug. 7 that its operations in Permian, Anadarko and Marcellus basins lifted 2Q production to 665,000 boed. Guidance for 2023 increased to 630,000 boed to […]
Innovation Transforms Environmental Services
One oilfield service sector that’s readily plugging in to increased planetary awareness is the environmental services niche. Two companies, Petro Waste (now under new ownership as described below) and Milestone Environmental Services, are among those who are growing their footprint. One whose footprint is already global—Halliburton—is hard at work developing software to make environmental impact […]
Tivoli Midstream acquires oil pipeline system in north Texas
Houston-based Tivoli Midstream, through subsidiary Tivoli Services, said Monday it acquired a crude oil pipeline system in north Texas from affiliates of Phillips 66. The NTX system is comprised of about 140 miles of crude oil gathering and transportation pipelines and storage capacity in the Barnett Shale in Archer, Clay, Jack, Palo Pinto, Stephens, Wichita […]
Enverus says Permian oil production forecast sustains production levels to 2040
Enverus Intelligence Research released a report Tuesday that quantifies geologically viable but not yet economically proven inventory in Permian Basin. The report investigates the impact this undeveloped resource has at the operator level and the supply outlook for the Permian Basin. Stephen Pratt, author of the report and Enverus’ Permian analyst, said, “Geologically viable but […]
Vital Energy reports record oil production in second quarter
Tulsa-based Vital Energy, pure-play Permian Basin independent, said recently its oil production in second quarter exceeded high end of guidance and set a company record with 44,360 barrels per day. Vital said, “Production outperformance was driven by improvements in base production and acceleration of production from new wells.” Vital also reported 90,030 boed in 2Q. […]
OPEC+ Production Cuts To Overwhelm Demand Recovery
Oil and gas prices have declined as investor concerns about the impact of the Russia-Ukraine war have faded due to the European Union’s considerable success in eliminating Russian oil and gas imports, according to analyst firm Morningstar. Even after the recent selloff, crude prices are still elevated compared with Morningstar’s midcycle forecasts. This explains why only […]
Is There Enough Upstream Investment?
by Wood MacKenzie executives Fraser McKay, Head of Upstream Analysis; Ian Thom, Research Director, Upstream; and Ann-Louise Hittle, Vice President, Oil Markets The oil and gas sector is in an upcycle, as demand rebounds strongly from the Covid-19 pandemic. The roll-out of a low-carbon energy system is going to take time. Oil will continue to drive the global economy and define energy security for many years to come. After three years […]
Aerial Mapping Will Help Bring Broadband Internet to Rural Texas
Woolpert has been contracted to collect high-density lidar data for more than 6,800 square miles of rural Texas to map electrical distribution poles and wires along with surrounding natural and man-made infrastructure. The data will be collected via fixed-wing manned aircraft. The high-density point cloud will be classified and used to construct survey grade 3D models and […]
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