For a basin that celebrated 100 years of commercial production in 2021, you would think the best days of the Permian Basin were behind us. However, in November of 2021, the region set a new record for oil produced on a daily basis. Then 2022 came around, and the Permian Basin set another production record […]
Growth in rig count, production slows amid rising costs
Growth in rig count and production is slowing amid rising costs in oil and gas industry. Baker Hughes said as of May 13 there were 335 rigs in Permian Basin (unchanged in past week, up 104 in past year), 345 in Texas (up 1 in past week, up 129 in past year), 98 in New […]
Devon Energy opens mobile sand mine in Loving County
Oklahoma City-based Devon Energy is opening a first-of-its-kind mobile sand mine on 15,000 acres of land it acquired in Loving County in 2018. Sand from the mine will be integrated into operations beginning in Q2 to save Devon up to $200,000 per well and meet 25 percent of its Delaware Basin sand needs this year. […]
Continental acquires bolt-on acreage in Ward, Winkler counties
Denver-based Continental Resources said recently it acquired bolt-on acreage believed to be about 15,000 acres in Ward and Winkler counties in Delaware Basin for $200 million cash. Continental allocated $100 million to $125 million for capex for the acquired acres as part of a 2022 budget increase. The acquisition is adjacent to acreage where Continental […]
Diamondback acquires assets in “high-rate-of-return area” of Ward County
Midland-based Diamondback Energy said May 2 it acquired assets from an undisclosed seller for $230 million. The 6,200 net acres in Ward County in Delaware Basin had 2022Q1 production of 2,300 boed with an estimated 58 horizontal locations (43 net) and laterals averaging more than 10,300 feet. Enverus said the seller was Permian pure play […]
Aris Water Solutions to provide produced water services for Chevron
Houston-based Aris Water Solutions said last week it has a long-term, full-cycle water management agreement with Chevron in the Permian Basin. Aris will provide produced water handling and recycling services in parts of Chevron’s core position in Eddy and Lea counties in New Mexico and Culberson and Reeves counties in Texas. The agreement will facilitate […]
Diamondback Energy acquires Rattler Midstream in merger agreement
Midland’s Diamondback Energy and Rattler Midstream said Monday they reached a merger agreement for Diamondback to acquire all publicly held common units in Rattler for $575 million in stock. The deal comes three years after the midstream partnership’s $765 million IPO. Each public unitholder of Rattler will receive 0.113 of a Diamondback common share for […]
Inspect What You Expect
Throughout the years I’ve run across numerous catchy little phrases in the safety world. Maybe you’ve heard some of them: Safety, You Can Live with It! Safety First! Or… Safety, First to Go! (LOL). Safety is No Accident. Think Safety, It Couldn’t Hurt. Seldom do they change any behaviors. Some companies run contests to generate […]
To Go with the Flow
As usual, the oil industry has seemed to turn on a dime. Two years ago producers were filling swimming pools with excess oil because it was a commodity nobody wanted during the Pandemic. In 2022, it’s still a commodity that certain groups don’t want, but they have to admit they need it. That’s due to […]
Where has Professionalism Gone?
Loose lips sink ships. Less is more in professional communication. Being clear and concise is the key. There is no need to fill the air with words that might get you in trouble. What is said cannot be taken back once it is out, either in conversation or in writing, including on social media. I […]
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