Enverus said flaring intensity in Permian Basin, measured via satellites, was about 180 MMcfd in February. Estimated flared volumes are holding in line with the post-covid19 activity drop. Permian flared volumes fell from about 520 MMcfd in March 2020 to about 300 MMcfd in April. Enverus added, “Although operators returned to the play, total flaring […]
U.S. count of active rigs above 400 for first time in 10 months
U.S. count of active oil and gas drilling rigs climbed above 400 last week for the first time since May 2020. Baker Hughes said as of Feb. 26 there were 402 rigs in U.S. (397 previous week), 208 rigs in Permian Basin (204 previous week), 197 rigs in Texas (194 previous week) and 62 rigs […]
Permian production forecast to decline to 4.315 million b/d in March
Production of oil and natural gas is expected to decline again this month in seven U.S. major producing regions, according to the latest drilling productivity report from the U.S. Energy Information Administration. Across the seven regions, oil production is forecast to decline by 77,000 b/d in March to 7.504 million b/d from 7.581 million b/d […]
U.S. Energy acquires two oil development projects in Delaware Basin
Arlington-based U.S. Energy Development Corp., privately-held oil and gas operator, last week said it acquired interests in Shetland and WarWink oil development projects in Delaware Basin. Shetland is located in an opportunity zone in Eddy County, N.M., and contains an interest in 14 producing wells and 6 recently proposed oil wells targeting initial production in […]
Fresh Challenges under a New Administration
The first real American industry to stretch across the windswept plains, the first to practice a trade across what is now known as the Permian Basin of Southeast New Mexico and West Texas, was cattle and ranching. For so many years, fences didn’t separate grazing grounds or cattle train routes. There was nothing but geography […]
NM O&G Faces Possible Ban on Freshwater Use
by Michael Vanderhider It appears that New Mexico’s state government is continuing to move in the direction of environmentalists and away from oil and gas operators. However, New Mexico enjoys significant revenue from the production of oil and gas, so it’s debatable whether actions taken to slow production will have widespread support. In December 2020, […]
The Permian Perseveres and Midland Inspires
In the midst of a worldwide pandemic, and in just over six months’ time, Midland’s newest non-profit, Midland Inspires, has brought together a community of more than 100 women seeking to positively transform lives in Midland County, Texas, through high-impact, inspirational, and lifelong giving. The organization will award a $100,000 grant each year to a […]
Merger Mania Drives 2020 Upstream M&A Resurgence
Enverus, a leading energy SaaS and data analytics company, is releasing its summary of Q4 and full year 2020 U.S. upstream mergers and acquisitions (M&A). After an anemic start, 2020 upstream M&A accelerated dramatically in the second half of the year as a challenging economic backdrop spurred a wave of industry consolidation. Activity crested in […]
Midland Welcomes New Data Center
BBT, formerly Big Bend Telephone, has announced the opening of the first Multi-Tenant Colocation Data Center facility in Midland, Texas. The Data Center is located approximately 10 miles west of downtown Midland, adjacent to Midland International Space Port. The facility will be a major network access point for the entire Permian Basin and surrounding region. […]
Heavy Equipment Prices Rising, Says Ritchie Brothers
With its auctions 100 percent online due to COVID-19, Ritchie Bros. drew record buyer demand in 2020. As a result, the company’s latest Used Equipment Market Trends report is showing price inflation across all majority equipment categories. For example, U.S. truck tractor prices increased 8 percent over the same time period (three months ending December) […]
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