Midland-based ProPetro Holding Corp., oilfield services company that provides completions services to upstream oil and gas companies, said this week it acquired another Midland company, Silvertip Completion Services Operating, a provider of wireline perforating and pumpdown services. Value of the transaction, which includes cash ($30 million), stock and assumed debt, is $150 million. ProPetro said […]
Scholarship Program to Give Back to Industries
GPS Insight, a leading provider of SaaS-based fleet and field service management software solutions, announced Oct. 4 the launch of the GPS Insight “You are the Reason” Skilled Trades Scholarship Program, awarding two scholarships for $10,000 each to students planning to pursue full-time skilled trades study at a college or accredited vocational-technical school in the 2023-2024 academic year. The […]
Companies Team to Deliver Solutions
Schlumberger and Cognite announced Sept. 14 a partnership to integrate Schlumberger’s Enterprise Data Solution for subsurface with Cognite Data Fusion, Cognite’s leading open industrial DataOps platform. Through this partnership, customers can integrate data from reservoirs, wells, and facilities in a single, open platform, and leverage embedded AI and advanced analytics tools to optimize production, reduce costs, and […]
Layoffs Continue Amid Jobs Slide
Companies across sectors, including technology, retail, and banking and payments, continued to announce layoffs, and a sizable decline in active jobs (number of jobs available for application) is also apparent in August 2022, reveals GlobalData, a data and analytics company. An analysis of GlobalData’s Jobs Analytics database has identified a seven index-points decrease in active jobs in August 2022 due to […]
Is WTI Crude Recession Proof?
By Ryan Dusek How quickly things have changed. Just a year ago, the Federal Open Market Committee (FOMC) gave a picturesque view of the economy. Any inflation was transitory and would likely fall to 2 percent in 2022. The federal funds rate would remain lower longer with little chance of a recession. At that same time, […]
Hempstead Facility Adds Capabilities
Logan Industries, a hydraulic repair, manufacturing, and rental company, has expanded its machining capabilities at its Hempstead, Texas, facility, adding a CNC horizontal boring mill and a CNC vertical turning center. The state-of-the-art facility, which encompasses more than 50,000 square feet of covered workspace, enables Logan to offer world-class machine design, manufacturing, and service. Both machines […]
The Not-So-Great Resignation
by Dr. M. Ray Perryman Among the most widely discussed economic phenomena in our post-pandemic world is the so-called “Great Resignation,” a phrase used to describe what seems on the surface to be unusually high numbers of people leaving their jobs after the arrival of COVID-19. It goes without saying that the toll the pandemic […]
Geoprediction Software Gets Update
Ikon Science, a global provider of knowledge management solutions designed to optimize subsurface discovery, announced Sept. 26 the release of RokDoc Version 2022.4., an industry-leading geoprediction software. As global energy demand continues to grow and drilling activities increase to meet this challenge, subsurface teams in E&P companies are challenged to deliver key reservoir insights faster […]
The Future of the Permian Basin Remains Bright
We are so thankful for all of you that joined us in Midland last month to participate in our 60th Annual Meeting. We are so proud that for so many years, our humble Association has worked diligently to support the safe and responsible development of our region’s natural resources and all of your work and […]
Texas, U.S. add rigs in past week, Permian Basin unchanged with 346
Texas and U.S. added oil and gas drilling rigs last week, according to Baker Hughes’ weekly count as of Oct. 21, while Permian Basin was unchanged with 346 rigs (268 year ago). There were 371 rigs in Texas (365 week ago, 249 year ago), 105 in New Mexico (109 week ago, 87 year ago) and […]
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