Declining counts of active oil and gas drilling rigs continue in Permian Basin, Texas and U.S. Baker Hughes said as of June 9 the decline in the U.S. count reached six consecutive weeks. Baker Hughes reported 346 rigs in Permian Basin (348 previous week, 345 year ago), 347 in Texas (353 previous week, 356 year […]
DOE awards contracts to five companies for Big Hill SPR site in Texas
U.S. Department of Energy said Friday it awarded contracts to five companies to deliver 3.1 million barrels of crude oil to the nation’s strategic petroleum reserve at Big Hill SPR site in Jefferson County south of Beaumont in southeast Texas. DOE announced a purchase plan in May to refill the emergency stockpile after a record […]
Knight Energy Services acquires Odessa’s Platinum Pipe Rentals
Houston-based Knight Energy Services, portfolio company of private equity firm Voyager Interests, said last week it acquired Odessa’s Platinum Pipe Rentals. The combined business will have 18 locations across the nation with a fleet of more than 200,000 pieces of rental tools and equipment, including more than seven million feet of drill pipe and tubing. […]
Putting the Pieces Together
Since late 2021 oilfield construction has begun returning to busting dirt and pouring concrete, hopefully leaving 2020’s collapse in the dust. But issues with supply chains and hiring are holding back the good times to some degree. Permian companies like Saulsbury Industries and Electrical Maintenance and Construction (EMC) are finding ways to adapt to these […]
Legislature, governor continue Texas Produced Water Consortium
Senate Bill 1047 in the recent 88th session of the Texas legislature to continue the Texas Produced Water Consortium was signed into law May 13 by Gov. Greg Abbott. The consortium was created in 2021 to study the economics, treatment technologies, and environmental and public health considerations for beneficially using produced water outside the oil […]
Mewbourne, Endeavor rank among top 5 of Enverus private operators list
Two companies that operate primarily in Permian Basin are among the top five in Enverus Intelligence Research’s list of the top 100 private oil and gas producers in the U.S. based on gross operated production in 2022. Rockies operator Continental Resources, a newcomer to Enverus’ chart, leads the list at 591,315 boed. Permian operators Mewbourne […]
New Mexico board approves new rule to curb oilfield emissions
New Mexico’s environmental improvement board recently approved a new rule to curb oilfield emissions that cause ground-level ozone. The so-called “ozone precursor rule” is intended to reduce this pollutant in areas where fossil fuel operations elevate it to levels deemed unsafe. Advocates told the Santa Fe New Mexican that the new regulation “will make New […]
Production in Texas, New Mexico increases, Enverus expects growth to accelerate
Texas and New Mexico continue to grow crude oil production, according to U.S. Energy Information Administration, and Enverus Intelligence Research said this week it “expects oil growth to accelerate” in the second half of the year. EIA said Texas production averaged 5.4 million barrels per day in March – up 97,000 b/d over February and […]
VTX Energy Partners acquires additional acreage in southern Delaware Basin
VTX Energy Partners, upstream company of Vitol, said Monday it will acquire 12,000 net leasehold acres contiguous with the Delaware Basin Resources position it acquired in March. The deal brings its total southern Delaware Basin position to 47,000 net acres. VTX said it agreed to acquire assets comprised of leasehold, production and associated water infrastructure […]
Remote Work
Goodbye Henry Ford. Considering my hope for a better Permian, we, as employers, need to be flexible with our workforce. Recruiters need help finding new employees. Millennials and Gen Z workers do not want to have to spend every day at work in an office. You know, these employees want more life balance. Also, the […]
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