Dallas-based Cardinal Midstream Partners said last week it agreed to acquire the natural gas gathering and processing system of Medallion Midstream Services in Loving and Reeves counties. It consists of about 80 miles of high- and low-pressure natural gas gathering pipelines and a processing plant (140 million cubic feet per day). Closing is expected in […]
Targa to build Daytona NGL pipeline from Permian to north Texas
Houston-based Targa Resources said Nov. 3 it will construct the Daytona NGL pipeline to expand its common carrier Grand Prix NGL pipeline system. Daytona will transport NGLs from Permian Basin to Targa’s Grand Prix NGL pipeline (550,000 b/d) in north Texas for delivery to Targa’s fractionation and storage complex in Mont Belvieu. It is expected […]
Conducting a Human Resource (HR) Audit
The best HR audits are the ones you control. The worst are those prompted by a letter from a government agency. Clean up one issue at a time while there is still time. All organizations need a major HR audit every few years and an annual review to ensure that the policies and procedures comply […]
Coming: The Year of Natural Gas
For decades natural gas was more of a nuisance than a blessing in the Permian Basin, where oil, specifically, was the economic engine of the region. Oil still is king, but natural gas is starting to flex some serious economic muscle these days, due to ripple effects from world events. This competition is creating its […]
Enverus: Delaware, Midland basins have 85 percent of sub-$40 inventory
Enverus last week released a basin-by-basin look at North American drilling inventory with analysis of well locations remaining at various prices. The Calgary-based research firm estimates there are 125,000 remaining undeveloped locations holding 60 billion barrels of oil that break even below $40 WTI across North America. Enverus said Delaware and Midland basins comprise 85 […]
Permian rig count remains 346, Texas posts largest decline of 3 to 368
Permian Basin held steady with 346 active drilling rigs for the third straight week as of Oct. 28, according to Baker Hughes’ weekly count, while Texas posted the biggest decline among major producing states (down 3 rigs in past week to 368). Also, there were 106 rigs in New Mexico (up 1 in past week) […]
Pioneer to concentrate development on locations with higher potential
Dallas-based Pioneer Natural Resources said last week it plans to concentrate its development program starting in 2023 on locations with higher potential. That comes after a year in which officials said results have not been satisfactory. Scott D. Sheffield, CEO, said Oct. 27, “We have increased the return thresholds for wells to be included in […]
Midland’s ProPetro acquires Silvertip Completion Services in $150M deal
Midland-based ProPetro Holding Corp., oilfield services company that provides completions services to upstream oil and gas companies, said this week it acquired another Midland company, Silvertip Completion Services Operating, a provider of wireline perforating and pumpdown services. Value of the transaction, which includes cash ($30 million), stock and assumed debt, is $150 million. ProPetro said […]
Scholarship Program to Give Back to Industries
GPS Insight, a leading provider of SaaS-based fleet and field service management software solutions, announced Oct. 4 the launch of the GPS Insight “You are the Reason” Skilled Trades Scholarship Program, awarding two scholarships for $10,000 each to students planning to pursue full-time skilled trades study at a college or accredited vocational-technical school in the 2023-2024 academic year. The […]
Companies Team to Deliver Solutions
Schlumberger and Cognite announced Sept. 14 a partnership to integrate Schlumberger’s Enterprise Data Solution for subsurface with Cognite Data Fusion, Cognite’s leading open industrial DataOps platform. Through this partnership, customers can integrate data from reservoirs, wells, and facilities in a single, open platform, and leverage embedded AI and advanced analytics tools to optimize production, reduce costs, and […]
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