Fort Worth-based Contango Oil & Gas said Nov. 30 it has reached agreement to acquire assets in Permian Basin, Big Horn and Powder River via a bank-owned liquidation of assets of Mid-Con Energy for $58 million. Contango will acquire 7,500 boed of production (55 percent liquids) and 182,000 net acres. The Permian asset is located […]
EIA releases new structure, thickness maps for Wolfcamp in Midland Basin
U.S. Energy Information Administration said Nov. 24 it has released new structure and thickness maps for the Wolfcamp play in Midland Basin in west Texas and eastern New Mexico. The Wolfcamp formation has attracted numerous oil companies because of the potential of its multiple hydrocarbon-producing zones. The stacked Wolfcamp formation has four intervals. EIA said […]
CEO Sheffield says Pioneer expects production growth of 0-5% in 2021
Irving-based Pioneer Natural Resources chairman and CEO Scott D. Sheffield said Tuesday Pioneer is putting drilling rigs back to work in Permian Basin with plans for production growth of 0 to 5 percent in 2021 as demand recovers. He told Reuters’ Future of Oil & Gas 2020 virtual conference he expects global oil demand to […]
PBPA is Your Advocate
We have made it to December in what has been an incredibly unprecedented year. The world is going through a pandemic the likes of which none of us have experienced before. Along with that pandemic, we have seen a dramatic change in energy demand and, consequently, in operations in the Permian Basin. However, one thing […]
The AI Factor
AI as a concept is way past its sweet sixteen, but only in recent years has it become confident enough to learn to drive. Sooner than later it will be fully licensed and out on the streets. It’s the same in the Oil Patch, say experts. Companies are relying on AI for more and more […]
Strategies to Reduce Flaring
By Brody Sherman Increasingly stringent flaring regulations have been a hot topic of discussion in the upstream oil and gas industry for several years. Levels of natural gas flaring in the United States have risen due to increased oil and gas production resulting from the “shale revolution” and pipeline infrastructure constraints. The most recent and […]
Ten LNG Projects Delayed By Pandemic
At least 10 proposed liquefied natural gas (LNG) export projects that have been approved for construction by regulators are now delayed by at least a year, as companies confronted by both the COVID-19 recession and the oversupply of natural gas have postponed final investment decisions. The analysis is based on corporate announcements and regulatory decisions […]
Blackbuck Acquires Water Infrastructure from Cimarex Energy Company
Blackbuck Resources LLC, which designs, builds, and operates water infrastructure, announced it has closed on a transaction to purchase Cimarex Energy Co.’s Whites City water infrastructure in Eddy County, N.M. The acquired assets include approximately 65 miles of pipeline and 100,000 barrels per day of installed and permitted disposal capacity. As part of the sale, […]
White House Orders Study of Frac’ing’s Economic Impacts
The International Association of Drilling Contractors (IADC) released on Nov. 2 the following statement on the President’s Executive Order concerning hydraulic fracturing from President Jason McFarland. “IADC welcomes the Administration’s efforts to take a serious look at the plethora of economic benefits that hydraulic fracturing brings to the United States. Experts widely agree that this […]
ConocoPhillips Likely Betting on Crude Demand Recovery
Following ConocoPhillips’ $9.7 billion acquisition of shale rival Concho Resources, Steven Ho, oil and gas analyst at GlobalData, a leading data and analytics company, offers his view on the acquisition: “This transaction is beneficial to both parties and in line with what has been expected for the industry in terms of merging opportunities,” Ho said. […]
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