Permian Basin and Texas each finished the year with a high count of active oil and gas drilling rigs for the year, according to Dec. 30 report from industry services firm Baker Hughes. There were 353 rigs in Permian Basin (352 week ago, up 20.4 percent from 293 a year ago) and 376 rigs in […]
EIA forecasts oil production of 5.579 million b/d in January in Permian
Oil production in Permian Basin and other major producing regions of U.S. continues to rise in monthly drilling productivity reports from U.S. Energy Information Administration. EIA said in its Dec. 12 report that production for January in Permian Basin is expected to increase to 5.579 million barrels per day from 5.542 million b/d last month […]
U.S. Energy completes 3-well pad in Ward County with Atlantic Energy
Arlington-based U.S. Energy Development said Dec. 20 it completed its Rio Hondo three-well pad in western Ward County. Each of the three Wolfcamp B horizontal wells had about 9,900 feet of completed lateral. “We are very pleased with our drilling performance,” Kevin Duncan, vice president, said. “Completing frac stages as designed is no easy feat […]
Scepter to launch balloon with methane-detection sensors for ExxonMobil
The first stratospheric balloon equipped with methane-detection sensors is scheduled to launch this month by San Francisco-based Scepter for ExxonMobil on the Texas side of the Permian Basin. Philip Father, CEO of Scepter, said balloons carrying hyperspectral sensors operating in short-wave infrared never have been commercially deployed to get this detailed level of data. Balloons […]
2023 Legislative Sessions
The Texas Legislature meets in a regular session every two years, convening on the second Tuesday in January of every odd-numbered year in Austin. These biennial sessions are limited to 140 days. The governor has the authority to call special sessions as necessary, which cannot exceed 30 days. The 88th Texas Legislature is set to […]
Interpreting Force Majeure
Recently the Texas Supreme Court heard oral arguments in a case titled Point Energy Partners Permian, LLC, et al., v. MRC Permian Company, which is a review of an El Paso Court of Appeals’ decision regarding the interpretation of the force majeure clause contained in the litigants’ lease. The underlying facts are as follows: MRC […]
Water Recycling Pipeline Promises Multiple Benefits
XRI Holdings, LLC, a water recycling company in the Permian Basin, announced Dec. 1 they have commenced construction of their Evolution Pipeline System. The system is a purpose-built large-scale, multi-producer water recycling and produced water infrastructure network connecting XRI’s existing pipeline infrastructure system in Midland County to its significant infrastructure footprint located in Reagan and […]
Wood-Mac Launches New Tool
Wood Mackenzie, the leading provider of decision intelligence for the world’s natural resources sector, announced in November their launch of Lens Gas and LNG, a new data analytics solution that offers a uniquely integrated view that connects markets and assets on a global scale. As the newest addition to Wood Mackenzie’s Lens data analytics platform, Lens […]
Long Term Outlook for the U.S. Economy
by Dr. M. Ray Perryman Gazing out over the next few decades, I see at least three major challenges confronting the U.S. economy. First, we have to overcome the consequences of the lingering effects of the pandemic, including getting inflation under control, dealing with the inevitable fallout that effort will involve, and working through ongoing supply […]
O&G Contracts Decline Globally
The overall number of contracts in the oil and gas industry declined by 7 percent in Q3 2022, decreasing from 1,662 in Q2 2022 to 1,542 in Q3 2022, according to GlobalData, a data and analytics company. According to GlobalData’s latest report, “Oil and Gas Industry Contracts Analytics by Sector (Upstream, Midstream and Downstream), Region, Planned and Awarded […]
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