Houston-based Marathon Oil will accelerate activity in Permian Basin and SCOOP/STACK in 2021Q3, according to Enverus. This quarter will be Marathon’s busiest with $340 million in capital expenses of fullyear $1 billion, including completion of multi-well pad at Marathon play on Texas side of the Delaware Basin. Enverus said average 2021 production will increase by […]
Pin Oak Corpus Christi completes Taft pipeline for Permian Basin crude
Pin Oak Corpus Christi said last week it completed the 20-inch Taft pipeline that connects Pin Oak Taft terminal with Flint Hills Resources Midway station and Cactus II Taft terminal. The bidirectional pipeline, fully supported by commercial contracts, provides inbound receipt of a suite of Permian Basin and Eagle Ford grades and redelivery options to […]
U.S. interior department to resume auctions, including New Mexico
Reuters reported this week the U.S. Department of Interior will open millions of acres for oil and gas exploration, including land in New Mexico and Oklahoma, to comply with a court order requiring it to resume lease auctions. President Biden paused drilling auctions after he took office in January pending an analysis of their impact […]
An Inspired Selection
Midland Inspires awarded a deserving nonprofit with a check for $100,000 in a July 19 ceremony recognizing the organization for its outstanding community service. Family Promise of Midland, a charity that benefits homeless families, was the recipient of the funds. Ellen K. Ramsey, the chair of Midland Inspires’ board of directors, shared these remarks: “Family […]
Shale Producers Stay Disciplined
The speed at which new rigs are put to new developments is considerably less than in previous price cycles. Most U.S. shale producers are being conservative in their production and capital guidance, as priorities remain fixed on protecting balance sheets and generating free cash flow. For many operators, this has led to a drawdown of […]
Is the Electric Vehicle Game About to Change?
By Steve Hendrickson, president of Ralph E. Davis Associates Electric vehicles (EVs) and their hybrid cousins have been a long time coming. It seems all of the automakers have dabbled in them at one time or another, and to varying degrees, but most had small production numbers and failed to generate a profit. Tesla finally […]
Diamondback, affiliate Viper increase forecast for oil production in 2021
Midland-based Diamondback Energy said Aug. 2 it increased 2021 oil guidance to 219,000-to-222,000 barrels per day (up from 212,000-to-216,000 b/d forecast earlier) and lowered full-year 2021 cash capital expense guidance to $1.525 billion-to-$1.625 billion – down 6 percent at midpoint from $1.60 billion-to-$1.75 billion. Oil production in Permian Basin in 3Q is forecast to be […]
New Mexico reports 80 drilling rigs for first time since April 2020
New Mexico added another drilling rig in the past week, according to Baker Hughes, to reach 80 active oil and gas rigs for the first time since April 2020. There were 47 rigs in New Mexico a year ago. Baker Hughes said as of Aug. 20 also there were 231 rigs in Texas (232 week […]
Oil production in Permian to increase to 4.805 million b/d in September
U.S. oil production from seven major shale formations is forecast to grow by 49,000 barrels per day in September, according to drilling productivity report of Aug. 16 from U.S. Energy Information Administration. That growth is led by Permian Basin, which is expected to increase by 49,000 b/d from 4.756 million b/d in August to 4.805 […]
Halliburton executes SmartFleet fracturing system in Permian Basin
Houston-based Halliburton Co. said Aug. 19 it successfully executed its SmartFleet intelligent fracturing system with a major operator in Permian Basin. Aaron Hunter, vice president-Midland Basin for ConocoPhillips, described SmartFleet as “a tool that provides valuable insights into subsurface fracture placement. These insights lead to informed decisions that improve fracture performance.” Halliburton vice president Michael […]
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