Irving-based ExxonMobil CFO Kathy Mikells said this week in a presentation of the company’s corporate plan that ExxonMobil expects to produce 700,000 oil-equivalent barrels per day by 2025 in Permian Basin (367,000 in 2020). The global energy giant plans to maintain capital spending plans of $20 billion to $25 billion per year through 2027 and […]
Taking up the Challenge
With Thanksgiving just past, and Christmas on the way, it’s a time of hope and thanksgiving for all. I encourage you all to be thankful not just for the gifts you have, but for the challenges you face. These challenges make you stronger, sharper, and help you grow. With constant attacks, or challenges, from every […]
In Retooling Mode: Oilfield Services
With the tidal wave of disruptions over the last two years, the oilfield service sector has had to pivot, reboot, and refocus just like the rest of the industry. Midland-based Forty A&M LLC specializes in shooting fluid levels and well optimization, and California-based Tetra Tech’s Permian business mainly consists of treating and handling produced water. […]
Your PBPA Membership Protects the Permian Basin
As we move away from another successful annual meeting and look to the year ahead, we are all reminded of the impact that our association has in promoting and defending the vital Permian Basin oil and gas industry. Your work, your support, and your engagement to develop affordable, abundant, and reliable domestic energy in the […]
Allied Energy reworks three wells in Stephens County to produce oil, gas
Carrollton-based Allied Energy said last month it is successfully producing oil at three wells on Gilmer lease in Stephens County. Allied said three wells have been pumping and producing crude oil and natural gas since Oct. 11, and the company is “presently working on securing a gas purchase agreement.” The Gilmer lease is a 300-acre […]
Permian Basin adds 6 drilling rigs, Texas adds 7 to lead new activity
Permian Basin and Texas once again were the leaders in new drilling rig activity last week as the basin heads toward record production in December. Baker Hughes said as of Nov. 19 there were 278 rigs in Permian Basin (up 6 in past week, up 156 in past year) and 271 rigs in Texas (up […]
Northern acquires non-operated assets in Delaware, Midland basins
Minneapolis-based Northern Oil and Gas said last week it agreed to acquire substantially all non-operated Permian Basin assets owned by certain affiliates of Fort Worth-based Veritas Energy for $406.5 million. The assets of about 6,000 net acres are located in Delaware and Midland basins in Eddy and Lea counties in New Mexico and Loving, Reeves, […]
Breakwater begins construction on recycling facility in Howard County
Houston-based Breakwater Energy Partners said last week it started construction on Morita, a commercial recycling facility in Howard County that Breakwater said will be “one of the largest produced water recycling facilities in the Permian Basin with throughput capacity in excess of 200,000 barrels per day.” Morita will be commercially permitted for receipt, storage, handling, […]
A Rising Tide
MIDLAND, TEXAS—A full day’s slate of speakers and panels concluded what organizers and participants deemed one of the most forward-looking annual meetings of recent years of the Permian Basin Petroleum Association, convening here Sept. 29-30 in this oil-centric city. A luncheon keynote address by Texas Lieutenant Governor Dan Patrick highlighted the proceedings. The 59th Annual […]
BLM to begin moratorium on leasing in northwest New Mexico
U.S. Department of Interior said Monday its Bureau of Land Management will publish a notice soon to begin a two-year moratorium on new oil and gas leasing in a 10-mile radius of Chaco Canyon in northwest New Mexico in the gas-rich San Juan Basin. The bureau will study whether and how to institute a 20-year […]
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