MIDLAND, TEXAS—When Harold Hamm and a few members of his executive staff sat down with PB Oil and Gas Magazine in the Petroleum Museum in this oil-centric capital one sunny day this fall, the founder and leader of Continental Resources was keeping a timetable that would soon see them huddling up with the Permian Basin […]
Bright Spots Glimpsed on the Construction Side
Ed Sullivan, the Chief Economist and Sr. Vice President of Market Intelligence for the Portland Cement Association (PCA)—which represents America’s cement manufacturers—said on Oct. 14 the Federal Reserve’s recent move to lower interest rates coupled with easing inflation signals a significant retreat in interest rate levels by the end of next year, all to the […]
Upstream M&A Descends in Q3
Enverus Intelligence Research (EIR), a subsidiary of Enverus, an energy-dedicated SaaS company, released in mid-October its summary of 3Q24 upstream M&A activity. Following 12 months of heightened consolidation in oil and gas, the pace of deals significantly slowed in the third quarter of 2024, with $12 billion in announced deals, the lowest quarterly total since 1Q23. […]
U.S. Dominance in Global LNG Can Extend
National Center for Energy Analytics (NCEA) Senior Fellow Tristan Abbey recently published a report examining the politicization of liquid natural gas (LNG) exports and recommending three pathways to ensure the United States maintains, even expands, the economic and geopolitical benefits from its dominant position in the global LNG market. Abbey explores the history of LNG […]
OHH Opens DFW Chapter
Oilfield Helping Hands (OHH), a non-profit organization that helps oilfield families in financial crisis due to no fault of their own, announced Oct. 28 the launch of its Dallas/Fort Worth Chapter. The chapter fosters support within the oil and gas community by connecting individuals and organizations committed to improving the lives of families in times of […]
Robotics Continue to Transform O&G
With the applications of robotics continuously evolving, the oil and gas industry has emerged as a significant adopter of the technology to improve safety and efficiency of operations. Robots equipped with advanced technologies are yielding increasingly positive results, bringing a continued transformation in the operations of oil and gas companies, says GlobalData, a data and […]
System Reduces Diesel Consumption
North American pressure pumping operators using a new dynamic gas blending (DGB) system reduced diesel consumption by approximately 100 million gallons in 2023 alone, according to Caterpillar Oil and Gas. This outcome, quantified via telemetry, signals that pressure pumping operators significantly lowered fuel costs by leveraging the DGB solution. The system, known as the Cat®Tier […]
Two Stock Bargains in the Delaware Basin
In recent months I have discussed multiple stock investment opportunities in the broad Permian Basin. Today, I will focus on two that are bargains in the Delaware Basin specifically. The Delaware has a higher percentage of natural gas to oil production than the Midland. While in the past companies were very focused on oil, […]
Texas adds 2 rigs, Permian Basin remains at 303 for fourth straight week
Permian Basin reported 303 drilling rigs for the fourth straight week, and Texas defied the national trend by adding 2 rigs in the past week. Baker Hughes said in its weekly report of Nov. 22 that there were 281 rigs in Texas (279 last week, 303 year ago), 102 in New Mexico (unchanged in past […]
LandBridge closes purchase of 5,800 acres in Delaware Basin in Lea County
Houston-based LandBridge announced last week the closing of its previously announced acquisition of about 5,800 largely contiguous surface acres in Lea County, N.M. It expands LandBridge’s holdings into a new area of the Delaware Basin that supports existing water infrastructure. LandBridge said, “The acreage is well-positioned to drive further revenue growth through additional water infrastructure, […]