Petroleum economist Karr Ingham of Amarillo has been named president of Texas Alliance of Energy Producers. Ingham had been interim president since 2023 after earlier serving for five years as executive vice president. The alliance said he will continue to serve as the organization’s economist and issue the Texas Petro Index and Texas Permian Basin […]
The Luck of a Safety Guy!
Some of the most commonly heard phrases in the oilfield when describing accidents are references to some sort of luck. Luck is defined as success or failure, apparently brought by chance rather than through one’s own actions. Regardless, whether it is good luck or bad luck (or, as some claim, it may be “no luck […]
Permian Basin crude production to reach 6.66 million b/d in August
U.S. Energy Information Administration forecasts total crude oil production in Permian Basin will grow to 6.66 million barrels per day this month after 6.61 million b/d in June and 6.64 million b/d in July. U.S. total crude oil production is forecast at 13.73 million b/d in August after 13.68 million b/d in June and 13.72 […]
Produced Water Society conducts Permian Basin conference
Produced Water Society is conducting its ninth annual Permian Basin Summit this week in Midland. The three-day event that began Monday addresses produced water issues faced by operators, water midstream companies and water services providers. About 400 people are expected to attend to hear speakers that include state Sen. Kevin Sparks (R-Midland), member of Senate […]
APA to increase oil production in 3Q by growing output in Permian Basin
Houston-based APA Corp. said recently it expects to increase U.S. oil production by 8 percent in third quarter as it grows production in Permian Basin. John J. Christmann IV, CEO, said Aug. 1, “In the Permian Basin, we had outstanding second quarter oil production performance and are raising our outlook for the back half of […]
Permian Basin adds drilling rigs for first time in 15 weeks
Permian Basin has broken its streak of 15 straight weeks without adding oil and gas drilling rigs. Baker Hughes said as of Aug. 9 there were 304 rigs in Permian Basin (303 previous week, 327 year ago), 276 in Texas (274 previous week, 312 year ago), 107 in New Mexico (108 previous week, 113 year […]
Diamondback increases production guidance, lowers expenses for 2024
Midland-based Diamondback Energy last week increased fullyear guidance for 2024 production and decreased its forecast for capital expenditures. Diamondback reported production of 276,100 barrels of oil per day (474,700 boed) during second quarter with 80 gross operated wells drilled (71 in Midland, 9 in Delaware) and 86 wells completed (79 in Midland, 7 in Delaware). […]
Automation Embraces Electrification
The oil and gas industry follows a trajectory that mirrors the progression of the world. There has been the pursuit of prosperity, certainly. But apart from that, the pursuit of information has in itself come to carry great significance and the accumulation of information brings with it power. As the oil and gas industry has […]
Report: M&A activity reports third straight quarter of heightened value
Calgary-based Enverus Intelligence Research said recently that upstream M&A activity (mergers and acquisitions) marked its third straight quarter of heightened value with more than $30 billion transacted. That brings year-to-date activity as of July 30 to nearly $90 billion and nearly $250 billion transacted in the last 12 months. Andrew Dittmar, principal analyst, said, “M&A […]
Texas industry reports fewer jobs again despite record production
Employment numbers in the Texas industry declined in five of the first six months of 2024 even though U.S. oil production is breaking records. According to Texas Workforce Commission and Texas Oil & Gas Association, upstream oil and gas employment fell again in June by 2,000 jobs compared to May. Todd Staples, president of TXOGA, […]
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