San Antonio-based NuStar Energy said last week its Permian Basin crude system set a quarterly throughput record in 2021Q4 and is expected to continue to grow in 2022. “We’re encouraged by what we’re hearing and seeing from our producers as well as the crude price outlook,” Bradley Barron, president and CEO, said Feb. 3. Oil […]
Getting Your House In Order
How do employers find employees during an extreme labor shortage? This month we examine quality hiring and best practices as the Great Resignation continues. Workers in the shortest supply are service workers, educators, and healthcare workers. A recent visit to the emergency room at a hospital near you was beyond shocking. There were four times […]
6 ways QuickSet is changing the game in gas lift
“Closed-loop” design eliminates fugitive methane emissions and more… The QuickSet™ skid by Liftrock is an environmentally friendly control system that eliminates methane emissions from gas lift operations and delivers other key operating advantages. Here is a look at how QuickSet is changing the game in gas lift, and how operators in the Permian are benefitting. […]
Oil in the Family
“Everyone’s looking at you and expecting you to do nothing.” Third generation oil entrepreneur Bryan Sheffield credits those words whispered in his ear by father Scott Sheffield, founding CEO of Pioneer Natural Resources, as helping challenge him to instead do much with his life’s opportunities. The younger Sheffield—also the grandson of Parker and Parsley founder […]
Commission says flaring rate in Texas continues to decline
Texas’ statewide flaring rate fell to another record low in November 2021, according to Railroad Commission of Texas. The commission said Jan. 26 the percentage of natural gas flared in Texas dropped from a previous low of 0.20 percent in September to a new low of 0.19 percent in November. Average rate of flaring has […]
U.S. rig count grows for 18th straight month since July 2020
Rig counts in Permian, Texas and U.S. posted small gains for the week ended Jan. 28, according to Baker Hughes. There are 293 rigs in Permian Basin (up 1 in past week, up 101 in past year), 284 in Texas (up 4 in past week, up 102 in past year), 94 in New Mexico (down […]
Maverick acquires Permian Basin properties from ConocoPhillips
Houston-based Maverick Natural Resources said last week it agreed to acquire producing properties in Permian Basin from ConocoPhillips for $440 million. The assets in central basin platform and northwest shelf produced more than 11,000 boed (50 percent oil) in September 2021. The position spans about 144,500 net acres in Andrews and Ector counties in Texas […]
ExxonMobil to relocate corporate headquarters from Irving to Houston
ExxonMobil said Monday it will relocate its corporate headquarters from Irving to its campus in Spring north of Houston as part of its restructuring. The company will combine its chemical and downstream companies and centralize its technology and engineering organizations. Effective April 1 it will reorganize into three business lines – upstream company, product solutions […]
Earthstone acquires Midland Basin assets of Bighorn Permian Resources
The Woodlands-based Earthstone Energy said Monday it has agreed to acquire assets in Midland Basin of privately held Bighorn Permian Resources in a cash and stock deal valued at $860 million ($770 million cash). Earthstone will acquire about 110,600 net acres (98 percent operated) primarily in Reagan and Irion counties. Average production was 42,400 boed […]
Feb. 24: See You at the Horseshoe
Innovation has always been at the heart of the oil and gas industry and in particular here in the Permian Basin. No sector has been as dynamic over the last few years as water management. As the President of the Permian Basin Petroleum Association I know how important water use has been for operators across […]
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