Houston-based NexTier Oilfield Solutions announced Monday the commercial launch of Power Solutions, its division that provides comprehensive fueling services to natural gas-powered fleets in Permian Basin. It integrates the latest in CNG supply and field gas handling technologies with NexTier’s portfolio of natural gas-fueled completion services and displaces a significant portion of carbon-heavy diesel with […]
Pioneer plans to operate 22-to-24 horizontal rigs in Permian in 2021
Dallas-based Pioneer Natural Resources said Monday in its second-quarter financial report it plans to operate 22-to-24 horizontal drilling rigs in Permian Basin in 2021, including 1 rig in Delaware Basin and 3 rigs in southern Midland Basin joint venture area. Pioneer’s 2021 capital program is expected to place 470-to-510 wells on production with oil output […]
Bryan Sheffield’s Formentera Partners makes first purchase
Reuters reported July 30 that Bryan Sheffield’s new fund Formentera Partners made its first purchase. The private equity income fund bought oil wells in Texas panhandle for about $121 million from an undisclosed seller. The assets span about 11,000 acres with production of 30 million cubic feet equivalent per day from about 200 wells. Sheffield, […]
Whistler pipeline begins operation from Permian Basin to Texas coast
Whistler pipeline began commercial operation July 1 to provide about 2.0 billion cubic feet per day of natural gas transport capacity from Permian Basin to Texas Gulf Coast. The pipeline consists of a 450-mile transmission line running between Waha hub in west Texas and Agua Dulce (providing shippers with access to Gulf Coast industrial and […]
Callon Petroleum to acquire assets of Delaware Basin operator Primexx
Houston-based Callon Petroleum, Permian and Eagle Ford driller, said Wednesday it will acquire leasehold interests and related oil, gas and infrastructure assets of Delaware Basin operator Primexx Energy Partners in a cash ($440 million) and stock transaction valued at $788 million. Dallas-based Primexx has a contiguous leasehold of 35,000 net acres in Reeves County with […]
Demand Side, Not Supply, Key to Decarbonization
By Rupert Darwell By any standard, the London meeting of finance ministers of the Group of Seven leading Western economies a week before the G7 leaders’ summit was historic. By committing to transformative structural change to meet net-zero greenhouse gas targets and other environmental objectives, G7 finance ministers turned themselves into adjuncts of their environment […]
Boom-or-Bust Road Trip
There’s a new book on the Permian Basin, and its creators are taking the tome to the people. Joe Specht, emeritus library director at McMurry University, Abilene, is among the contributors to the recently published Boom or Bust: Narrative, Life, and Culture from the West Texas Oil Patch (Oklahoma University Press). The collection of essays […]
The A.I. Factor
Science fiction abounds with stories of robot or computer takeovers, from 2001 A Space Odyssey’s HAL 9000 to Dr. Who’s Cyber Men—along with the flip side, the original Star Trek’s “Spock’s Brain” episode where the bad guys hooked Spock’s brain up to the system that controlled their civilization’s air conditioning and other processes. Whether any […]
CLEAN Future Act Could Pose Problem
A little-noticed section of an environmental bill pending in Congress could reclassify water extracted from oil and gas wells as hazardous waste, dramatically driving up drilling costs in the United States and destabilizing energy markets around the world, according to a new report from Rice University’s Baker Institute for Public Policy. If the legislation becomes […]
North America to Dominate LNG Liquefaction Additions
North America is expected to lead the global liquefied natural gas (LNG) liquefaction capacity additions by 2025, contributing around 63 percent, says GlobalData, a leading data and analytics company. The Former Soviet Union (FSU) region is a distant second place, with 18 percent, followed by the Middle East at 10 percent. GlobalData’s latest report, “Global […]
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