This month’s topic is absolutely pertinent and timely. Normally it is a sleep-inducer of a topic, the reason being that its ramifications are long term, as opposed to short term—and short term ramifications generally attract greater attention. Silica and silicosis have been an issue in the oilfield and construction industries for quite some time. Largely […]
Changing Landscape
It might be said that any land person still breathing and eating in the first quarter of 2021 is either a few pounds lighter or must have won the lottery. That’s because, in an oil price downturn, especially one as sudden and deep as the 2020 model, land services are usually the first to succumb […]
PBPA joins coalition in goal of ending routine flaring by 2030
Texas Methane and Flaring Coalition said Wednesday in Austin it supports a goal of ending routine flaring by 2030. The coalition includes seven trade groups, including Permian Basin Petroleum Association, and more than 40 Texas operators. It was formed in 2019 “to develop industry-led solutions designed to mitigate and reduce methane emissions and flaring.” PBPA […]
ExxonMobil new carbon capture, storage business includes southeast Texas
ExxonMobil said last week it created a new business, ExxonMobil Low Carbon Solutions, to commercialize its low-carbon technology. The new business will focus on carbon capture and storage and hydrogen. ExxonMobil Low Carbon Solutions plans more than 20 new carbon capture and storage projects with $3 billion in investments through 2025. The projects include U.S. […]
Port of Houston receives federal grant of $19.5 million for expansion
Port of Houston received a grant of $19.5 million from U.S. Army Corps of Engineers to begin an expansion project. The project will widen and deepen the channel for safer and more efficient navigation of vessels calling the port’s eight public terminals and more than 200 private facilities. Port of Houston is the nation’s No. […]
Permian, Texas rig counts continue to grow, New Mexico again declines
Improving oil prices continue to spark a growing rig count as Permian Basin added 6 rigs in the previous week for 198 actively at work as of Feb. 5, according to Baker Hughes. Permian drilling rig count is up 13 percent since starting 2020 with 175 rigs. Baker Hughes said there are 189 rigs in […]
Patterson-UTI relocates dual-fuel spread to Texas from Northeast
Houston-based Patterson-UTI Energy said last week it will relocate one of its dual-fuel spreads from the Northeast to Texas. Andy Hendricks, CEO, said Feb. 4, “While industry completion activity in the Permian increased in the fourth quarter, in the Northeast, where we have a strong presence, industry completion activity decreased significantly and remained at this […]
Earthstone to resume drilling in Midland County after record output in 2020
The Woodlands-based Earthstone Energy said last week its production guidance for 2021 is 19,500 to 21,000 boed after record volumes in 2020 of 15,382 boed (56 percent oil) to exceed guidance of 14,500 boed. Estimated proved reserves at yearend were 78.9 million boe. Earthstone’s 2021 capital budget of $90 million to $100 million assumes a […]
Mergers, Acquisitions, Furloughs, Layoffs—and your Employees
This month, I am highlighting the Worker Adjustment and Retraining Notification Act of 1988 (WARN Act). If your company staffs fewer than 100 employees, this law does not apply to you, but just the same it is better to treat your employees well when you sell your company, or when you furlough or lay off […]
De-mystifying ESG
Rachel Carson’s Silent Spring, released in 1962, is considered the starting point of environmental awareness for the general public. That book was focused on overuse of pesticides and their effect on bird populations—hence the “silence” Carson saw coming to springtime. Today that concern has spread greatly, to include fossil fuels, among other things. Investors in […]
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