Greetings and salutations! I am so pleased to be writing the last article for 2020. Needless to say, 2020 has been a year of distinction. I am incredibly pleased to see 2020 in the rear-view mirror. Christmas, however, is always a special time to reflect and this year is no different. Normally I just launch […]
Being Woke: Oilfield Services Adapt to 2020
The key words in today’s economic world would seem to include “disruption, adaptation, and creativity.” Nowhere are these words more pertinent than in the oilfield services sector. There, additional key phrases would be “burning iron” and “squeezing profits.” The three companies contacted for this article exemplify another word—“diversity”—as each has taken a different path to […]
Laredo Petroleum expects to complete 15 wells in 4Q in Howard County
Tulsa-based Laredo Petroleum said last month in its quarterly financial report that it currently is operating one drilling rig and one completion crew in Howard County and expects to complete 15 wells during 2020Q4. The 15-well package is expected to be fully online this month. After resuming activities in 2020Q3, Laredo produced 87,857 boed, including […]
Cimarex Energy oil production down 16 percent in third quarter
Denver-based Cimarex Energy said last month in its quarterly financial report that it currently is operating four drilling rigs and two completion crews in Permian Basin. Production in 2020Q3 averaged 180,300 boed – decrease of 9 percent from 2019Q3. Oil volumes of 62,900 b/d were down 16 percent from 2019Q3. Cimarex said Nov. 4 it […]
S&B Engineers completes nation’s third largest NGL plant for Phillips 66
S&B Engineers and Constructors said Nov. 23 it completed two NGL fractionation plants for Phillips 66 at its Sweeny hub in Old Ocean that quadruple processing capacity to 400,000 b/d. S&B provided engineering, procurement and construction on two of the world’s largest units with combined processing capacity of 300,000 b/d. The complex includes Phillips 66’s […]
Permian Basin adds drilling rigs for sixth straight week
Permian Basin added drilling rigs for the sixth straight week, and U.S. resumed a growing count of active rigs after a decline, according to the latest report from Baker Hughes. As of Nov. 25, there were 161 rigs in Permian Basin (156 previous week), 147 rigs in Texas (144 previous week), 58 rigs in New […]
Contango Oil & Gas acquires assets in Permian, Big Horn, Powder River
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 […]
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