Houston-based Callon Petroleum said last week more than 80 percent of its 2023 capital program of $1 billion will be spent in Permian Basin. Joe Gatto, president and CEO, said Feb. 22, “Our 2023 business plan builds on the strong operational execution and financial outcomes we delivered last year.” Gatto said 55-to-60 percent of the […]
Diamondback plans to increase capex in 2023 to $2.5 billion-to-$2.7 billion
Midland-based Diamondback said last week its 2023 oil production guidance is up to 256,000 to 262,000 b/d compared to 223,600 b/d in 2022 (226,100 b/d in 2022Q4). Oil production guidance for 2023Q1 is 248,000 to 252,000 b/d. Diamondback expects to drill 325 to 345 gross wells in 2023 and complete 330 to 350 gross wells […]
Riley Exploration Permian acquires oil, gas assets in Eddy County
Oklahoma City-based Riley Exploration Permian said Tuesday it agreed to acquire oil and gas assets in Permian Basin from Pecos Oil & Gas, affiliate of Cibolo Energy Partners, for $330 million. The assets in Eddy County, N.M., include 11,700 contiguous net acres (99 percent held by production), current production of 7,200 boed (4,200 b/d oil), […]
Encouragement Matters
It is an unfortunate reality that the danger in our industry of oil and gas is not limited to our locations, jobs, or even our commutes. Aside from the workplace and the traffic, the tentacles of danger have crept into our industry in the form of mental unrest and stress by social, financial, and overall […]
Veritas Acquires Woodmac
(BUSINESS WIRE)—Veritas Capital, an investor at the intersection of technology and government, announced Feb. 2 that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK). Wood Mackenzie is an industry leader in providing data, analytics, and insights used to power the energy, renewables, and natural resources industry for nearly […]
Texas’ Gas Supply Steady During Winter Storm Mara
The natural gas supply in the state of Texas held steady to help provide heating to homes and fuel for electricity generation during Winter Storm Mara (late January), according to the Railroad Commission of Texas. The RRC kept round-the-clock contact with operators and other state agencies during Winter Storm Mara. Natural gas utilities reported no […]
Companies Partner for High HP, Low Emissions
GD Energy Products (GDEP), a total solutions provider for the frac, drilling, and well servicing pumps market, and Catalyst Energy Services, an emerging stimulation service company specializing in hydraulic fracturing treatment, announced on Jan. 10 their partnership to bring high horsepower, lower emissions technology to hydraulic fracturing. Together, the companies commit to applying their innovations […]
SLB Acquires Gyrodata Ltd.
(Business Wire) SLB announced Feb. 3 its completed acquisition of Gyrodata Incorporated, a global company specializing in gyroscopic wellbore positioning and survey technology. The transaction incorporates Gyrodata’s wellbore placement and surveying technologies within SLB’s Well Construction business, bringing customers innovative drilling solutions. This combination will improve wellbore quality and reduce drilling risk to unlock remote […]
O&G Robotics to Grow Tenfold by 2030
The single major advantage of robotics is automation, which drives other improvements in efficiency, productivity, and safety. Automation enables extensive inspection and maintenance tasks to be conducted while feeding back data to help limit operational costs and improve efficiency. Advances in modular and customizable robots will result in growing deployment of robotics in the oil […]
Capitol Updates
by Julie Anderson Oil and gas issues continue to garner attention among Permian Basin lawmakers in both Texas and New Mexico, meaning industry advocates have been hard at work advising against problem legislation and lending support to bills with positive intent. New Mexico: 56th Legislature Enters Home Stretch With adjournment around the corner on March […]
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