Houston-based ConocoPhillips said last week its annual production for 2022 is expected to be 1.8 million boed, including 200,000 boed from its recent acquisition of Shell properties in Permian Basin. ConocoPhillips expects companywide capital expenditures of $7.2 billion next year (up from $5.3 billion forecast for 2021), including $700 million in Permian Basin. The 2022 […]
ExxonMobil, Scepter to use satellites to detect emissions in Permian Basin
ExxonMobil and San Francisco-based climate tech firm Scepter said Monday they will work together to deploy advanced satellite technology and proprietary data-processing platforms to detect methane emissions. In phase one, they will design and optimize a plan for satellite placement and coverage to capture methane emissions from ExxonMobil’s operations in Permian Basin. Scepter will deploy […]
Safe Tidings
This is my favorite time of the year! It is every safety person’s “reward time” of the year! No, not necessarily the monetary reward, but rather the reward of employees enjoying their families and friends. Another untold bonus is being able to return to work for some Holiday Relief. As I write about the different […]
The Show Goes On
ODESSA, TEXAS—The Oct. 19-21 run of the Permian Basin International Oil Show came off nicely for a show that had to bounce back from disappointment. There was the disappointment that came from having to call off the scheduled 2020 run of the event, due to Covid. And there has been the disappointment, felt across the […]
The Future of Work
Where will employees want to live and work? Time to drop a pin: Work-life balance has changed, and workers are in the driver’s seat. High wages in the Permian are commonplace, but the work-life saga is coming to a town near you, even in Timbuktu. Those companies and locations that are forward-thinking may be the […]
U.S. House committee urges more disclosure on methane leaks in Permian
Bloomberg reported this week that the Committee on Science, Space and Technology in the U.S. House of Representatives sent letters to 10 oil companies operating in Permian Basin asking them to disclose and stop leaks of methane. Among the companies were Pioneer Natural Resources, ExxonMobil, Occidental Petroleum, ConocoPhillips and Chevron. Rep. Eddie Bernice Johnson, D-Texas, […]
New Mexico leads producing states with addition of 5 rigs last week
New Mexico led major producing states with the addition of 5 oil and gas drilling rigs in the past week, according to a weekly report Dec. 3 from Baker Hughes. New Mexico has 88 active rigs – up 47 percent from a 2021 low of 60 in March. Baker Hughes said there also are 283 […]
Natural gas flaring in Texas falls to record low in September
Texas’ statewide flaring fell to a record low in September, according to the latest data from Railroad Commission of Texas. The commission said Dec. 2 the percentage of natural gas flared in Texas fell from a previous record low of 0.61 percent in July 2021 to a new record low of 0.21 percent in September […]
Devon Energy reports increased production in Delaware Basin
Oklahoma City-based Devon Energy said last month in its 3Q operations announcement that production in Delaware Basin averaged 409,000 boed (52 percent oil) in 2021Q3 – an increase of 39 percent from 2020Q3. The growth was driven by 52 new wells that started production on Devon’s 400,000 net acres in New Mexico and Texas. Devon […]
Chevron to spend $3 billion for unconventional development in Permian
San Ramon, Calif.-based Chevron said in its upstream business in 2022 it will spend $8 billion on currently producing assets, including $3 billion for unconventional development in Permian Basin. Also, its $15.3 billion capital and exploratory spending program for 2022 (20 percent more than is expected in 2021) will include $1.5 billion for other global […]
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