Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

Honeywell, University of Texas collaborate on carbon capture technology

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Des Plaines, Ill.-based Honeywell said Dec. 15 it will commercialize carbon capture technology created by researchers at University of Texas in Austin that could significantly reduce carbon dioxide emissions from many industrial sources.  The proprietary technology from Texas’ carbon management program reduces the cost of capturing carbon dioxide emissions from power plants and other heavy […]

Nabors completes first well for Exxon with automated land rig in Permian

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Nabors’ Pace-R801 drilling rig, the world’s first fully-automated land rig, recently completed its first well to a depth of nearly 20,000 feet for ExxonMobil in Permian Basin, according to a report last week in Houston Chronicle.  The Chronicle said this “marks a milestone in the automation of the oil and gas industry… Robots are transforming […]

Commission suspends deep injection of produced water in Gardendale SRA

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After four additional earthquakes in northwest Midland County last week, KOSA-TV and Midland Reporter Telegram reported this week the Railroad Commission of Texas suspended indefinitely all deep injection of produced water by oil and gas operators effective Dec. 31.  Operators of disposal wells in Gardendale seismic response area will not be permitted to inject below […]

Earthstone Energy acquires assets in Delaware Basin from Chisholm

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The Woodlands-based Earthstone Energy said last week it reached agreement with Fort Worth-based Chisholm Energy to acquire 36,100 net acres (92 percent operated) in Delaware Basin in Eddy and Lea counties in New Mexico.  Purchase price is $604 million in cash and stock ($340 million cash at closing in 2022Q1).  Robert J. Anderson, president and […]

EIA monthly forecast tops 5 million b/d for oil in Permian for first time

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U.S. Energy Information Agency expects another record month for crude oil production in Permian Basin.  In its Dec. 13 drilling productivity report, EIA forecast production of 5.031 million barrels of crude oil per day in January 2022 – the second straight month for a record forecast and the first monthly forecast of at least 5 […]

It Comes at a Premium

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For many companies in the Oil Patch—producers or service companies—insurance is one of the top expenses, especially when the reckoning includes health policies—and premiums for that coverage are rising quickly. But the protection from loss and liability provided by insurance is important, and for many service companies it’s required by most Master Service Agreements (MSAs). […]

The Permian in Perspective: A Q&A with Jason Reimbold

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An energy lending institution since 1910, BOK Financial (it derives its current name from its earlier name, Bank of Oklahoma) maintains offices in Houston, Denver, Tulsa, Oklahoma City, and Dallas, and invests more of its portfolio in Permian Basin projects than in any other basin. Jason Reimbold, Managing Director of Energy Investment Banking at BOK […]

Cimarron, Hy-Bon selected for DOE emissions reduction program

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Houston-based Cimarron, global provider of environmental and emissions control equipment and services and parent company of Midland’s Hy-Bon Engineering, is one of 12 companies selected by U.S. Department of Energy to participate in its emissions reduction program known as REMEDY.  Cimarron will receive a grant of $1 million for its hybrid torch design coupled with […]

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