After a brief rally, rig counts in Permian Basin, Texas, New Mexico and U.S. have resumed declines, according to Baker Hughes. As of Sept. 11, there were 124 rigs in Permian Basin (125 week ago, 419 year ago), 105 rigs in Texas (106 week ago, 430 year ago), 46 rigs in New Mexico (47 week […]
Northern Oil & Gas makes first acquisition in Delaware Basin
Minneapolis-based Northern Oil & Gas last week said it made its first acquisition in Delaware Basin. Northern acquired assets in Lea County from an undisclosed seller, including 66 net acres with 1.1 initial net wells proposed. The proposed wells are expected to be spud in late 2020 or early 2021. Total acquisition costs plus initial […]
XTO Energy withdraws applications for permits in Eddy County
ExxonMobil subsidiary XTO Energy said last week it withdrew its applications for permits to construct and operate natural gas facilities in Eddy County of Permian Basin in southeastern New Mexico. The applications were for facilities to be known as Husky Gas Plant and Central Delivery Point with capacity of 1.5 billion cfd of natural gas, […]
Risk
From the inception of the oilfield, risk has been a part of the business. Most everyone agrees that the first oil well in the world was drilled by Colonel Edwin Drake in Pennsylvania in 1859, a whopping 21 meters in depth, which equals 68’ 10”. However, that is not the case—at least that well was […]
Reducing Water Transfer Costs at Remote Fracking Sites with Open Secure Automation
Fracking uses highly pressurized water, mud and sand to fracture shale until it releases the oil or gas trapped within its layers. Ensuring a continuous supply of the millions of gallons of water needed for this operation is a logistical challenge that is vital to wellsite cost control and profitability. Meeting this challenge has been […]
There’s Green in “Clean”
With ESG becoming the new EBITDA in the eyes of stockholders and investors, environmental companies—as the “E” in ESG—are finding more interest in their services. That’s helping them somewhat in weathering what is becoming the “Year of the Black Swan,” 2020. Others are combining that with creative ways to leverage accumulated data to improve services […]
RSEG: Flaring increases during summer months in Permian Basin
Enverus Intelligence from RS Energy Group said Sept. 4 that flaring intensity in Permian Basin, measured by satellite, averaged about 440 MMcfd in August – down from about 480 MMcfd in July. RSEG said flaring intensity had increased from about 330 MMcfd in June through the end of July by about 150 MMcfd or 45 […]
Rig counts in U.S., Permian, Texas, New Mexico remain above low for year
Rig counts as of Sept. 4 in U.S., Permian Basin, Texas and New Mexico remain above the 2020 low counts registered last month, according to the latest report from Baker Hughes. There were 256 rigs in U.S. (254 previous week, 2020 low of 244), 125 rigs in Permian Basin (125 previous week, 2020 low of […]
HighPeak Energy to increase production in northeast Midland Basin
Fort Worth-based HighPeak Energy, Inc., said Aug. 24 it plans to increase production by yearend by bringing 15 horizontal wells online and drilling an additional six wells. High Peak Energy, Inc., is the company formed by the closing of Pure Acquisition Corp.’s acquisition of oil and gas assets of HighPeak Energy LP and HighPeak Energy […]
ConocoPhillips withdraws flaring permit requests at 41 sites in west Texas
Houston-based oil and gas producer ConocoPhillips last week withdrew a request to Railroad Commission of Texas to extend flaring permits at 41 sites in west Texas. John Roper of ConocoPhillips told Reuters that the company is reducing flaring in the Goldsmith area in Andrews and Ector counties in Permian Basin by improving operations. “These efforts […]
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