Wisdom consists of the anticipation of consequences. (Norman Cousins) Start the new year off right and decide to start a succession plan at a minimum of two levels of the organization: the middle and the executive levels. The new supply chain issue for 2023 is human capital or having enough employees to do the job. […]
Throttling Up
While there is one main thing that affects the oil and gas industry—the price of the commodities in question—those commodities are subject to world politics and economics. The latter influences are many and varied, and are making today’s market anything but stable for everyone, including the service sector. “It is changing at breakneck speed,” said […]
Permian Basin reports 2022 year-to-date high rig count of 352
Permian Basin and U.S. reported high rig counts for 2022 year-to-date in the weekly report of Nov. 23 from Baker Hughes. In the last report before Thanksgiving, there were 352 rigs in Permian (349 week ago, 280 year ago), 372 in Texas (375 week ago, 273 year ago), 105 in New Mexico (103 week ago, […]
Energy Transfer expects Grey Wolf gas plant to come online this year
Dallas-based Energy Transfer said Nov. 1 in its announcement of 2022Q3 results that its Grey Wolf cryogenic processing plant in Winkler County in Delaware Basin is expected to come online this year with capacity of 200 million cfd. Also, its Bear gas processing plant in Delaware Basin is expected to come online in 2023Q2. The […]
ConocoPhillips reports record production in Q3 for lower 48
Houston-based ConocoPhillips said Nov. 3 its lower 48 assets delivered record production in 2022Q3 of 1.013 million boed, including 668,000 boed from Permian Basin and 224,000 boed from Eagle Ford. The company said this was its first lower 48 production of more than one million boed, and it contributed to a company record global production […]
Occidential production growth in 2023 to come from Permian Basin
Houston-based Occidential Petroleum said Nov. 8 that production in Permian Basin increased in 2022Q3 to 523,000 boed from 499,000 boed in 2021Q3. Oxy topped midpoint of guidance for Q3 with 1.18 million boed. Vicki Hollub, president and CEO, said Oxy expects Q4 production of 1.2 million to 1.26 million boed with the Permian Basin accounting […]
Biden administration issues approval of export terminal off Texas coast
Biden administration recently approved plans to build the nation’s largest oil export terminal anchored about 30 miles south of Freeport off Texas’ gulf coast. When completed in 2025 it will add two million b/d to the U.S. oil export capacity. Approval by maritime administration in U.S. Department of Transportation was filed in the federal register […]
APA plans return to single-digit production growth in 2023
Houston-based APA Corp. said recently it plans to return to single-digit growth in production in 2023 – driven by Permian Basin oil increases – after three years of production declines. APA said Nov. 2 in its announcement of 2022Q3 operating results that adjusted production was 310,000 boed with upstream capital investment of $492 million – […]
Resolutions… and Rejoinders
It’s never too early to put in a word for something or to speak up for a worthy endeavor. Especially in a world where there are plenty of folks who are doing their best to pre-empt our directions and make our decisions for us. (Are you listening, Washington?) Let it be resolved that the Permian […]
ESG Reporting: Easing the Anxiety
By Lindsey Scott From Amazon to Walmart, companies across the globe are striving to implement ESG initiatives that can stand up to increased scrutiny. The energy industry, like all industries, is facing the possibility of new standards for carbon emission disclosures that will need to be disclosed to shareholders, stakeholders, and regulators. Simply put: today’s investors are relying on more robust […]
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