Baker Hughes’ count of active drilling rigs in Permian Basin continued its retraction in the weekly report of Sept. 9. There were 340 rigs in Permian – down from 342 the previous week but up from 254 a year ago. It’s Permian’s sixth decline in the last eight weeks from a 2022 high of 351 […]
Palisade to build Rail Runner produced water pipeline from Delaware Basin
Houston-based Palisade Pipeline said recently it will build Rail Runner, produced water pipeline system, in the Watco Railroad right-of-way from Lea County, N.M., to Winkler County, Texas, along SH 18. Rail Runner will transport produced water from northern Delaware Basin to saltwater disposal well systems in Winkler County. Palisade said Aug. 30 its infrastructure also […]
The Value of a Mentor
Greetings and salutations! Over the last 25 years, I have found that safety is a profession that is not necessarily inspired by the lure of large monetary gains. Although it can be an incredibly fulfilling and rewarding profession, the job description is unique due to the concept of making a living by proving that one […]
Two Kinds of Green
“It’s not easy being green,” Kermit the Frog famously said, and many oil and gas producers feel the same way about ESG and the growing number of environmental regulations. ESG is short for “Environmental, Social, and Governance”—three non-financial factors that investors increasingly take into consideration when investing in companies, including energy companies. And it’s not […]
Callon increases production guidance in Delaware Basin for 2023
Houston-based Callon Petroleum said last month it expects to produce 102,000 to 105,000 boed (63 percent oil) in Q3 with 38-to-42 gross wells placed on production with operating expenses between $245 million and $255 million. Callon said Aug. 3 currently it operates 6 rigs – 3 in Delaware Basin, 2 in Midland Basin and 1 […]
HighPeak reduces operating expenses, emissions with 60MW substation
Fort Worth-based HighPeak Energy recently commissioned its 60MW high-voltage substation, began removing rental generators to reduce lease operating expenses and emissions, and launched a local sand project. HighPeak removed at least 70 percent of rental generators in Flat Top operating area, and electrification of the substation enabled HighPeak to power its first drilling rig with […]
Rig count declines in Permian Basin for fifth time in past seven weeks
Rig count in Permian Basin declined last week for the fifth time in the past seven weeks, according to Baker Hughes, as WTI fell below $85 for the first time since January. As of Sept. 2, there were 342 rigs in Permian Basin – down 6 in the past week, but up 92 in the […]
Texas receives record $10.8 billion in oil, gas production taxes in FY 2022
State of Texas received a record $10.83 billion in oil and natural gas production taxes in fiscal year 2022 that ended Aug. 31. Comptroller Glenn Hegar said Sept. 1 that Texas received $6.36 billion in oil production taxes (up from $3.45 billion last year) and $4.47 billion in revenue from gas production (up from $1.57 […]
Permian Resources forecasts 2023 production of 150,000 to 165,000 boed
Midland-based Permian Resources Corp., the combine of the Centennial Resource-Colgate Energy merger announced in May, said last week it expects Q4 production of 140,000 to 150,000 boed (52 percent oil) with capital expenses of $300 million to $325 million assuming 38-to-42 gross wells spudded and completed. The combine is the largest pure-play exploration and production […]
Insurance Benefits are Key to Employee Attraction and Retention
The number one problem in the Permian Basin is recruiting and retaining quality employees. Benefits, including health and supplemental insurance and retirement offerings, are vital to solving the problem. By this time, I hope most of my readers have selected an online, full-service human resource management system (HRIS) to service the organization from job inception […]
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