Back in 1971, I started working in the oilfield. It was in the summer after graduation from high school that I started as a roughneck. Yep, I worked lead tongs on a “triple.” It had 3 (quiet…sarcasm) Waukesha engines powering that rig. It was a deep hole triple (3 joints of pipe in a stand), […]
Rig counts of June 25 remain unchanged in Texas, New Mexico, U.S.
Baker Hughes said June 25 counts of active oil and gas drilling rigs in Texas, New Mexico and U.S. remain unchanged in the past week. Texas has 221 rigs (112 year ago), New Mexico has 75 rigs (50 year ago), and U.S. has 470 rigs (265 year ago). There also are 236 rigs in Permian […]
Magellan, Enterprise, ICE establish new WTI futures contract to Houston
Magellan Midstream Partners, Enterprise Products Partners and Intercontinental Exchange (ICE) said June 21 they are establishing a new futures contract for delivery of crude oil to Houston. The Midland WTI American Gulf Coast contract will be launched in early 2022, subject to regulatory approval, “in response to market interest for a Houston-based index with greater […]
EOG Resources reports highest 24-hour rate since 2019 in Lea County
Enverus reported recently that Houston-based EOG Resources tested its highest 24-hour rate since 2019 at an upper Wolfcamp well in Lea County, N.M., in Delaware Basin. EOG completed 55 net wells in Delaware Basin in 2021Q1, and it plans to complete 275 net wells there this year. Enverus said the Hawk 35 Federal #708H was […]
Surge partners with U.S. Well Services for its first all-electric field trial
Houston-based Surge Energy US Holdings said June 25 it will partner with U.S. Well Services on a field trial using USWS’ all-electric Clean Fleet for Surge’s first completions with all-electric hydraulic fracturing. Surge is an independent oil and gas company focused on its 110,000 net acres in Midland Basin. Linhua Guan, CEO of Surge, said, […]
New state law creates Texas Produced Water Consortium at Texas Tech
Gov. Greg Abbott signed into law June 18 a bill that created the Texas Produced Water Consortium at Texas Tech University. State and private groups will collaborate to study the economics, technology and environmental impact of the reuse of produced water. The consortium is required to develop a report by September 2022 to propose regulatory […]
Global O&G Contracts Stable in Early 2021
Oil and gas contract activity remained relatively stable in Q1 2021, with the industry recording a marginal decrease in the number of contracts and at the same time an increase in disclosed contract value, according to GlobalData, a leading data and analytics company. The latest report by GlobalData, “Q2 2021 Global Oil and Gas Industry […]
Archrock Donates Compressor System to Midland College
Archrock Inc., which markets itself as the leading provider of midstream natural gas contract compression services in the United States, on June 7 donated a compressor package worth approximately $200,000 to Midland College. This donation included a contained portable gas lift compression system, equipped with updated Centurion and EICS controls. Headquartered in Houston, Archrock operates […]
XRI Acquires Hibernia’s Water Infrastructure Assets
XRI Holdings, LLC, a leading full-cycle water management and midstream company with fixed infrastructure owned throughout the Permian Basin, announced May 27 that it has acquired the produced water infrastructure assets of Hibernia Energy III, LLC, through its wholly-owned subsidiary, Celtic Disposal, LLC. Through this transaction, XRI will become the long-term provider to Hibernia of […]
$100 Oil on the Horizon?
By Steve Hendrickson, president, Ralph E. Davis (RED) Associates In late May, RED Associates made a case for significantly higher oil prices over the next few years due to a set of converging factors that would create a supply/demand imbalance, pushing oil prices above $100 per barrel. This argument could be summarized like this: resumption […]
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