San Ramon, Calif.-based Chevron said last week it raised 2022 production growth in Permian Basin to 15 percent after Q1 when Chevron continued its recovery from the 2020 global pandemic. Permian unconventional production grew to a record 692,000 boed in 2022Q1, and chairman and CEO Mike Wirth said he expects production to increase to 700,000 […]
Streamline flare systems analysis by using a single platform
Smart investment that saves lives and capital in the future Often thought of in terms of cost, safety and flare systems are nonetheless a critical part of any operation—and their value is never more apparent than in the event of a failure. With revenue lost due to downtime, the cost of repairs and replacement, environmental […]
Under the Double Eagle
By Paul Wiseman “We always either had success or we learned, but the key was that we kept going after each success and we kept going after each failure,” said Cody C. Campbell, one of two cofounders of Double Eagle Energy Holdings. “We’ll continue to have successes and we’ll continue to have failures and we’ll […]
Petrodollar Paranoia
by Dr. M. Ray Perryman Recently, there has been much focus on the “petrodollar” and whether it will continue as the currency of choice in the oil market. China and Saudi Arabia have discussed shifting away from it, a move that some worry will end the dollar’s dominance in world markets; others seem to think […]
U.S. Oil Supply Likely To Increase
Enverus Intelligence Research, a part of Enverus, a leading global energy data analytics and SaaS technology company, released on March 21 a new report examining the likely responses by U.S. oil producers, both public and private, to high oil prices and increased concerns about energy security in the wake of Russia’s recent invasion of Ukraine. […]
Tubulars Maker Starts 40-acre Facility
Corrosion Resistant Alloys, LP (CRA), a just-in-time (JIT) manufacturer of high quality corrosion resistant alloy tubulars, announced March 29 that the company had broken ground on the construction of a new manufacturing facility in Brenham, Texas. The new facility will deliver an expansion of manufacturing capabilities and capacity, streamline processes, and further advance CRA’s vision […]
Is Oil Price Volatility Increasing?
By Steve Hendrickson If you’re like me, you probably feel that the volatility of oil prices has been very high in the past couple of years. After all, oil prices were well above $100/bbl recently and had a negative price scarcely two years ago. And we’re experiencing significant global events that have an economic impact that influences […]
Rig counts: 334 in Permian Basin, 346 in Texas, up 2 to 695 in U.S.
Baker Hughes’ count of active oil and gas drilling rigs remained flat for the week that ended April 22 in Permian Basin, Texas and New Mexico. U.S. added 2 rigs in the previous week to reach 695 (438 a year ago). There were 334 rigs in Permian (226 year ago), 346 in Texas (211 year […]
ConocoPhillips completes laterals of 15,000 feet with record results in Upton
Two laterals completed in December 2021 by ConocoPhillips in Upton County delivered a cumulative average of 170,821 boe (1,898 boed) per well in their first three months – Conoco’s highest in Upton County. The two wells averaged 15,596 feet. During a 24-hour test the wells delivered an average of 3,631 boed (85 percent oil). Enverus […]
Oil production in Permian Basin to reach 5.137 million b/d in May
Crude oil production in Permian Basin continues to grow in forecasts by U.S. Energy Information Administration. EIA said in its drilling productivity report of April 18 that production in May in Permian Basin is expected to reach 5.137 million barrels per day – 82,000 above April production of 5.055 million b/d. Across the seven major […]
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