The saying about the weather—if you don’t like it, just wait a minute, it’ll change—has become interchangeable with oil prices. Actually, oil prices tend to change even if you do like the current ones. The last two years have pelted the industry with everything from the tornadoes of negative prices to the sunshine of triple […]
Report: Global liquids fuel production to increase in 2023 despite OPEC
U.S. Energy Information Administration said Tuesday it expects global liquids fuel production to increase by 1.5 million barrels per day in 2023 despite declining production in OPEC and Russia. EIA attributes the increased production to “strong growth from non-OPEC countries, which increase by 2.3 million b/d… Non-OPEC production growth is largely driven by counties in […]
Haaland visits orphaned well in Texas, commission requests more federal funds
U.S. interior secretary Debra Haaland (D-New Mexico) visited Texas recently, and officials from Railroad Commission of Texas took advantage to request additional federal funds to plug more orphaned oil and gas wells. Last year Texas was the first state to begin plugging orphaned wells using initial grants from the federal Infrastructure Investment and Jobs Act. […]
Vital Energy increases production forecast in Permian Basin for 2023
Tulsa-based Vital Energy, an independent energy company focused on assets in Permian Basin, this week increased its 2023 production guidance because of improved performance in Q1 and the closing of its acquisition of Driftwood Energy in Reagan and Upton counties in the Midland Basin. Vital forecasts 2023 production of 76,000 to 80,000 boed – up […]
HR in a Box: Keep it Simple, Keep it Legal
I recently presented on my favorite Human Resources (HR) topics and was pleasantly surprised that more participants than not answered over half my questions correctly. The same day of the presentation, a client called and asked me a question; I answered that the client had to pay the individual who resigned unless they wanted to […]
Oxy subsidiary leases 55,000 acres for carbon capture, sequestration hub
1PointFive, subsidiary of Houston-based Occidental Petroleum, leased more than 55,000 acres along the Gulf Coast in Texas to develop a carbon capture and sequestration hub in Chambers, Jefferson and Liberty counties. The Bluebonnet hub, with capacity of about 1.2 billion metric tons of CO2, will be located near refineries, chemical plants and manufacturing facilities between […]
Report: Occurrences of earthquakes in Permian Basin declining
The number of earthquakes in the Permian Basin is declining, according to research scientist Peter Hennings from University of Texas. Dr. Hennings was featured luncheon speaker April 4 in Midland at the national technical conference of the American Association of Drilling Engineers. “Operators and regulators are adapting – using data and trends successfully,” he said. […]
Texas adds rigs for fourth straight week, Eddy County leads Permian with 55
Count of active drilling rigs in Texas increased for the fourth straight week in the April 6 report from Houston-based Baker Hughes. And the rig count increased for the third time in the last four weeks in Permian Basin. There were 353 rigs in Permian Basin (352 previous week, 332 year ago), 377 in Texas […]
Flying High: Drones and Airplanes
The airways over the Permian Basin have long been highways to elsewhere for people traveling for business or pleasure. In recent years the advent of drones hauling cameras and other monitoring equipment has added another dimension to the skies. Oxford, Mississippi-based Nicholas Air’s connection with the Permian Basin began quietly, with just one family, a […]
EIA: More electricity generated from renewable sources than from coal in 2022
U.S. Energy Information Administration said more electricity was generated from renewable sources of fuel in 2022 than from coal for the first time. Electricity generated from renewable sources such as wind and solar has grown rapidly in the past decade. Doug Lewin, president of Stoic Energy, power consultant, told Houston Chronicle, “It’s been a really […]
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