Happy New Year! I am certainly glad 2020 is in the rear-view mirror. I only wish this COVID-19 (Corona virus) was in the rear-view mirror as well. So, greetings and salutations. To say that 2020 was a strange and tough year is like calling Moby Dick a guppy. If you are reading this, I hope […]
Going with the Flow
The iconic pump jack, emblazoned on hats, jackets, signs, and the hearts of oil and gas people everywhere, is alive and well. No one thinks it’s going anywhere any time soon, because it does still have much work to do. But underneath the surface, some cracks are appearing in its once ubiquitous and seamless armor. […]
Frank Late, Paul Morris, Fred Newman named to Petroleum Hall of Fame
Three new members will be added to the Petroleum Hall of Fame April 29 at Bush Convention Center in Midland. They are Frank M. Late, a native of Arkansas and automobile dealer who launched his oil and gas career in 1944 with the beginning of Cactus Drilling; Paul L. Morris, a native of West Virginia […]
Rig counts, active fracturing units continue trend of small gains in 2021
The trend of increasing counts of active oil and gas drilling rigs continued in first week of 2021. Houston-based oilfield services firm Baker Hughes said as of Jan. 8 U.S. count rose 9 to 360 rigs, Permian added 4 rigs in past week to reach 179, Texas count remained unchanged with 161 rigs, and New […]
Strengths of Texas LNG Brownsville include “access to Permian feed gas”
Port of Brownsville said Jan. 5 it reached long-term lease agreement with Texas LNG Brownsville to secure the Texas LNG export project site for up to 50 years. The port’s announcement said, “The lease agreement is an important milestone bringing the FERC-permitted project closer to a final investment decision while also confirming to LNG buyers […]
Northern Oil and Gas adds 219 net acres in 4 transactions in Permian
Minneapolis-based Northern Oil and Gas said Jan. 7 its 11 transactions in 2020Q4 included 4 in Permian Basin that accounted for 1.1 net wells in process, 219 net acres and 0.6 net undrilled locations. Northern invests in non-operated minority working and mineral interests in oil and gas properties in Permian and Williston. Northern’s $8.4 million […]
Here Comes 2021
We have turned the page on 2020 and I think we are all looking forward to whatever 2021 might offer in comparison to the year gone by. For PBPA right off the bat, 2021 offers legislative sessions in both Texas and New Mexico, along with a new administration in Washington, D.C. New Mexico will convene […]
Biden picks New Mexico Rep. Deb Haaland as interior secretary
U.S. Rep. Debra Haaland (D-NM) is president-elect Joe Biden’s nominee for secretary of the U.S. Department of the Interior, which oversees land management, ocean energy management, wildlife management and science, and geological sciences. Haaland, 60, is a graduate of Highland High School in Albuquerque and University of New Mexico and a former chair of the […]
Yergin: Global oil demand will take at least another year to recover
IHS Markit vice chairman Daniel Yergin said recently that global oil demand likely will take at least another year to return to pre-pandemic levels. Shale production will remain relatively unchanged at about 11 million b/d until late 2021 before it starts rising, IHS Markit said, and it will increase at a much more moderate pace. […]
U.S. adds 90 rigs in fourth quarter, best since second quarter of 2017
Texas and Oklahoma were the only major producing states that added oil and gas drilling rigs in the final week of 2020. Baker Hughes said as of Dec. 31 there were 175 rigs in Permian Basin (173 previous week), 161 rigs in Texas (159 previous week), 65 rigs in New Mexico (unchanged) and 351 rigs […]
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