Mastering running an efficient meeting is a necessary skill for leaders. Most attendees do not like meetings because meetings take time away from doing their jobs, and the organization risks losing some of their bottom lines because of the time away from performing the essential functions of positions. Due to Covid and beyond, meetings have […]
Swinging into Spring
ODESSA, TEXAS—The Odessa Country Club was the site on April 12 for the day-long golf tournament that has come to be known as the Permian Basin Petroleum Association “Spring Swing.” Beautiful weather greeted the full slate of teams. The format was a four-man scramble. If enthusiastic participation in golf tournaments can be construed as a […]
Texas adds 4,300 exploration and production jobs in March
Texas Oil and Gas Association said data from Texas Workforce Commission show that Texas added 4,300 jobs in March in oil exploration and production. It was the largest single monthly gain since summer of 2011. The sector has added 12,000 jobs since September 2020 to bring the total drilling and extraction employment in the state […]
Permian, Texas rig counts exceed year-ago totals for first time in 2 years
For the first time in two years before the global pandemic, current rig counts in Permian Basin and Texas are greater than year-ago totals when drilling began to decline because of falling demand for crude products. Baker Hughes reported as of April 30 there were 224 rigs in Permian (226 a week ago, 219 a […]
ExxonMobil raises 2021 production estimate for Permian Basin
ExxonMobil raised its 2021 production estimate in Permian Basin because of operating efficiencies that are reducing costs for well drilling and completions and improving recovery rates. ExxonMobil raised 2021 Permian output to 410,000 to 430,000 boed from 400,000 boed. Darren Woods, CEO, said April 30 that 2020 capital spending was down 35 percent despite technology […]
Matador notes “strong initial well performance” in multiple formations
Dallas-based Matador Resources said April 28 in the first 4 months of 2021 it brought 19 operated horizontal wells online with drilling and completion costs averaging $657 per completed lateral foot. Production in 2021Q1 of 74,000 boed (56 percent oil) was down 11 percent from 2020Q1. Matador brought online its first four high-impact wells in […]
Ovintiv says Q1 well costs match guidance of $480 per foot in Permian Basin
Denver-based Ovintiv said April 28 its focus on operational efficiency and supply chain management led to 2021Q1 well costs at or below 2021 guidance. Ovintiv drilled 22 net wells and turned 24 net to sales in Permian Basin in 2021Q1. Drilling and completion costs averaged $480 per foot in 2021Q1 – down 11 percent from […]
Vencer Energy acquires Midland Basin assets of Hunt Oil Co.
Houston-based Vencer Energy, U.S. upstream unit of oil trader Vitol, said April 30 it agreed to purchase Midland Basin assets of Hunt Oil Co. Vencer is acquiring 44,000 acres in five counties with current production of 40,000 boed. Purchase price was not announced. The acquisition is the first for Vencer, which began last year. Ben […]
Be Prepared
In view of recent events of snow-mageddon that we all recently experienced in Texas, there arises the issue of being continually prepared. Any safety person worth their weight should play the “what if” game continually, as should anyone in any other position in the petroleum gas industry. When it comes to operations, safety, accounting, investments, […]
A Woman’s Prerogative
Over many decades, the Permian Basin’s Good Old Boy network found a lot of oil, pioneered a lot of recovery techniques, and made the Scharbauer Hotel the stuff of legend. Today’s networks are more inclusive, with women increasingly taking roles in field work, in skilled positions, in management, in corporate leadership, and in jobs up […]
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