by Tracy Gray Thanks to the pandemic, delays in turnarounds, and restrictions on the numbers of contractors on rigs, pipelines and production sites forced companies to delay work that had been planned for years. As we continue to emerge from the restrictions, industry experts predict a bottleneck of turnaround projects into 2023 as companies work to […]
Electric Fracs Get “Pumped” Up
Houston-based GD Energy Products (GDEP), a solutions provider for the drilling, well servicing, and frac pumps market, has partnered with U.S. Well Services to supply 3,000-horsepower pumps for their Nyx Clean Fleet. Each custom-designed pump is powered by an electric drive motor to create an environmentally sustainable frac unit. Tony McLain, vice president of sales, […]
Undrilled Locations Number 125,000+
Enverus Intelligence Research (EIR), a subsidiary of Enverus, an energy-dedicated SaaS platform, released on Oct. 25 a basin-by-basin look at North American drilling inventory and an analysis of how many well locations remain at various prices. “We believe the fear around near-term shale drilling inventory exhaustion is largely overblown,” said Dane Gregoris, report author and […]
Texas oil, gas industry September employment up in past month, year
Texas Independent Producers and Royalty Owners Association said Texas direct upstream employment for September was 202,900 – an increase of 900 from August 2022 and 34,000 from September 2021. TIPRO said in September there were 11,382 active unique industry job postings in Texas, including 4,181 in Houston, 1,028 in Midland and 541 in Odessa. Top […]
Active rigs in Texas, U.S. continue to grow to 2022 high counts
Texas and U.S. posted 2022 high counts of active drilling rigs for the second straight week. Baker Hughes said as of Nov. 18 there were 349 rigs in Permian (down 1 past week, up 71 in past year), 375 in Texas (up 2 in past week, up 104 in past year), 103 in New Mexico […]
Laredo Petroleum expects Q4 production of at least 32,000 b/d of oil
Tulsa-based Laredo Petroleum said Nov. 3 it expects 2022Q4 production of 72,500 to 75,500 boed (32,000 to 34,000 b/d of oil) with capital expenditures of $135 million to $145 million. Focused on the Permian, Laredo now is operating two drilling rigs and one completion crew and expects to complete 13 wells in Q4. Production in […]
Railroad Commission sends inspectors to Reeves County after 5.4 quake
Railroad Commission of Texas deployed inspectors to Reeves County after an earthquake of 5.4 magnitude Nov. 17 west of Pecos near the Reeves-Culberson border. The agency is monitoring seismic data from U.S. Geological Survey, TexNET seismic monitoring program and private operator monitoring stations. RRC inspectors are examining disposal activity at disposal wells in the area, […]
Crude production forecast grows to record in Permian; DUC trend reverses
Crude production in seven major regions of U.S. is forecast to continue growing in December by U.S. Energy Information Administration. EIA said in its latest drilling productivity report Nov. 14 that production is expected to grow by 91,000 b/d from November to 9.191 million b/d in December. That includes a record 5.499 million b/d in […]
Diamondback Energy acquires Lario Permian in another billion-dollar deal
Midland-based Diamondback Energy made its second major acquisition in as many months with the Nov. 16 announcement that it is acquiring all leasehold interest and related assets of Lario Permian, subsidiary of family-owned Lario Oil & Gas. Value of the cash-and-stock transaction is $1.5 billion ($850 million cash). Closing is expected Jan. 31, 2023, for […]
Rallying Point
by Jesse Mullins MIDLAND, TEXAS—A packed house greeted the speakers and panelists at the 60th Annual Meeting of the Permian Basin Petroleum Association on Sept. 29, held here as customary in the Petroleum Club downtown on Wall Street. The all-day activities of Sept. 29 followed an evening icebreaker event held on the 28th at the […]