Nabors Industries said Nov. 16 it has launched its Canrig red zone robotics (RZR) rig floor module, a modular rig upgrade that automates routine drilling activities. Nabors retrofitted an existing rig with RZR and successfully drilled multiple horizontal wells for ExxonMobil subsidiary XTO Energy in Permian Basin. In 2021 Nabors and Exxon proved fully automated […]
Comptroller transfers $7.3 billion to state funds from oil, gas tax revenue
Texas comptroller Glenn Hegar said Nov. 29 about $7.3 billion in tax revenue from the state’s oil and gas industry has been transferred to the state highway (SHF) and economic stabilization funds (ESF). Each received about $3.64 billion. “It is critical that we invest in the infrastructure needed to keep our state fiscally healthy,” Hegar […]
Callon Petroleum reports productivity improvements in Delaware, Midland
Houston-based independent Callon Petroleum said in its announcement of 2022Q3 operating results that oil productivity in the first 120 days online was up 26 percent in Delaware Basin and up 28 percent in Midland Basin compared to 2021Q3. Joe Gatto, president and CEO, said Nov. 2, “Callon’s strong production growth this quarter was the product […]
Cardinal Midstream acquires natural gas system from Medallion
Dallas-based independent midstream company Cardinal Midstream Partners said recently it is acquiring natural gas gathering and processing assets in Delaware Basin from Medallion Midstream Services. The system acquired includes about 80 miles of pipelines in Loving and Reeves counties and a gas processing facility (140 million cfd) for top-tier producer customers. Closing is expected in […]
Succession Planning
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 […]
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