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
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
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
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 […]
Pioneer leads U.S. operators with 26 rigs, Lea tops Permian with 60
Baker Hughes said Permian Basin extended its streak of no declining rig counts to 24 weeks as of Dec. 10. Permian Basin added 3 rigs in the previous week for a new total of 286 (168 a year ago). The basin last had a declining rig count June 25. Also, there are 272 rigs in […]
ConocoPhillips forecasts 200,000 boed in Permian with $700 million capex
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 […]
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