by Chuck Gallagher At a recent conference where I spoke on AI, I was asked, “Will AI displace me?” My response was simple: “If you don’t learn to work with AI and use the incredible tools that will make many of our jobs easier, allowing us to do more important creative thinking and working […]
Strong O&G Demand Will Supporting Growth of Permian Basin: GlobalData
The global oil demand has been on the rise after the COVID-19 pandemic. Moreover, the Russia-Ukraine conflict caused major alterations in energy supply routes, which went in favor of U.S. shale drillers, including those in the Permian Basin. The Permian Basin remains the largest oil-producing shale play in the United States. Strong global demand and […]
UTPB Hosts Fall Recruiting Events
The University of Texas Permian Basin, in its efforts to connect employers with the bright, talented students earning degrees there, have organized their Fall Recruiting Event, with activities slated for four separate occasions. The first was scheduled for Aug. 28. That “Part-Time Job Fair” was to run from 2 to 4 p.m. at the UTPB […]
BLM Completes Sale of Federal Helium System
The Bureau of Land Management on June 27 closed on the sale of the Federal Helium System, fulfilling one of BLM’s primary responsibilities under the Helium Stewardship Act of 2013. BLM will continue working with the new owner, Messer, during a 45-day hand-off period to support a smooth transition from federal to private ownership. The Helium […]
Retail price for gasoline in U.S. for Labor Day 13 percent lower than last year
Approaching the Labor Day holiday weekend, the retail price for all formulations of regular gasoline in the U.S. averaged $3.31 per gallon Aug. 26 – 13 percent lower than the same time last year. The decrease in prices paid at the pump is driven by weak growth in global and U.S. petroleum product demand, continued […]
EIA forecasts Permian to contribute to increases in crude oil, natural gas
U.S. Energy Information Administration said last week it forecasts crude oil production in the U.S. will grow to 13.7 million barrels per day and marketed natural gas production will grow to 114.3 billion cfd in 2025. EIA said Aug. 21, “Most of the forecast growth in oil and natural gas production comes from the Permian […]
ONEOK grows in Permian with deal for Medallion Midstream, EnLink interest
Tulsa-based pipeline operator ONEOK said Wednesday it will acquire Medallion Midstream and controlling interest in EnLink Midstream from Global Infrastructure Partners for $5.9 billion. By acquiring Medallion – the largest privately held crude gathering and transportation system in Midland Basin – along with 43 percent interest in EnLink, ONEK establishes a fully integrated platform at […]
The Dallas Fed’s Outlook, Opinions in Madrid, a new Exchange, and a Good Steak Joint Gone
The journal entries below are excerpted from recent installments of James Wicklund’s “Things I Learned…” newsletter. Perspective. The Dallas Federal Reserve Bank issued their 2nd quarter review of the oil and gas industry. Production was little changed; costs rose faster for OFS and still rose but more slowly for E&P. OFS utilization improved but margins were […]
Permian, Texas add drilling rigs, Lea County now leads Permian Basin
Permian Basin and Texas each added drilling rigs for the second time in three weeks, according to the weekly report of Aug. 23 from Baker Hughes. There were 306 rigs in Permian Basin (303 previous week, 320 year ago) and 274 in Texas (273 previous week, 307 year ago). Also, there were 106 rigs in […]
Granite Ridge adds drilling locations in Delaware, Midland basins
Dallas-based Granite Ridge Resources said recently in an operational update it closed multiple transactions in second quarter that added 16.4 net future drilling locations for $22.4 million. And in traditional non-op, Granite Ridge acquired 51 gross (4.7 net) future drilling locations in Delaware, Midland and three other basins for a total cost of $12.6 million. […]
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