Oslo-based research firm Rystad Energy said July 28 natural gas output from Permian Basin is expected to rebound in the second half of 2020, but the low-investment environment created by covid19 “will likely postpone approvals for important key pipelines which may necessitate increased flaring from 2023 onwards.” In the second half of the year and […]
Marathon ends crude oil processing at refinery in Gallup, N.M.
Findlay, Ohio-based Marathon Petroleum said this week it is permanently ending crude oil processing at two of its U.S. refineries, including one in Gallup, N.M., with capacity of 27,000 barrels per day, as a result of “decreased product demand caused by the ongoing coronavirus health crisis.” Marathon also will idle its refinery in Martinez, Calif. […]
Solaris expands produced water management agreement with Concho
Houston-based Solaris Water Midstream said July 29 it reached agreement with Concho Resources to expand their joint venture for long-term produced water management. Their agreement previously covered Concho’s acreage in Eddy County, N.M., and it was expanded to include Lea County, N.M. Solaris now manages Concho’s produced water gathering, transporation, disposal and recycling for 2.3 […]
QEP Resources leads state in permits with 14 in Andrews County
Denver-based QEP Resources filed permits last week with Railroad Commission of Texas for 14 new horizontal wells on state-owned lands in Andrews County to lead the state in filing for the week. Houston Chronicle said it marked QEP’s first permits filed since January – 29 permits to date this year – after filing for 70 […]
Hire to Retire: Be Prepared
Times have changed, and less is more. In July, I wrote about bringing back your employees to either full employment or from working from home. We have all learned that not everyone has to be physically present to get their jobs done. In that light, I would guess that commercial real estate is going to […]
Changing with the Times
The decade of 2010 opened to a “black gold rush” built upon horizontal drilling and hydraulic fracturing, drawing in a flood of investment money of all kinds. Investors dreamed of funding an unlimited Christmas list for producers and service companies alike, asking only that the list be used to expand the company so it could […]
Restructurings Signal Paradigm Shift
Q&A With Opportune Managing Partner David Baggett: Oil & Gas Restructurings Signal Paradigm Shift The upstream oil and gas industry is currently undergoing a paradigm shift as companies scramble for cash and face bankruptcies and restructurings under the weight of heavy debt loads while operating in one of the worst downcycles in history, according to […]
Where Will Crude Prices Go From Here?
Two competing narratives dominate the talk today where crude oil prospects are concerned. There is the break-your-spirits pessimism parroted by the Covid-crisis crowd, beating their drumbeat of disaster. For them, the lockdowns ought be locked in a year or more at a crack. Then there is the bullishness of the glass-half-full crowd, finding positivity in […]
A Case for Optimism
In the wake of the Saudi-Russian Price War, it’s understandable if some care not what the Saudis think about the fortunes of oil and gas in what remains of 2020. That said, there is, for those who care to hear it, a profession of optimism from the Saudi’s top oilman. IHS Markit reported that Saudi […]
Refiners Reconsider Strategies
Demand for transportation fuel has taken a huge hit on oil refineries since late March 2020 amid COVID-19 lockdowns, according to researchers at GlobalData. Being ill prepared to tackle such sudden demand erosion at such a short notice, these refiners had no choice but to limit production, revisit business portfolios, slash capital expenditure, and stall […]
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