Inspectors with the Railroad Commission of Texas are continuing critical inspections of the Permian Highway Pipeline (PHP), one of the largest pipeline projects under construction in Texas in 2020. Stretching more than 400 miles from the Permian Basin to the Houston area, the pipeline will bring West Texas’ natural gas to the world market. Given […]
Oilfield Services Pressured By Plummet in Oil Price
Exploration-focused oilfield service (OFS) companies will be the sector facing the largest demand decline as a result of oil and gas producers cutting their capex and operating expenditure, followed closely by drillers, Fitch Ratings says. The impact will be felt across the entire OFS sector, but diversified companies and service providers working in regions with […]
OleumTech Opens Midland Office
OleumTech, a provider of wireless industrial automation and IoT solutions, announced in July the opening of a new office in Midland with a training facility that the company describes as state-of-the-art. The office will primarily accommodate and support customers in the region. The new location will house a full display of OleumTech products for demonstrations […]
Global O&G Deals Reach $28B in Q2
Total oil and gas industry deals for the second quarter of 2020 were worth $28 billion, according to a July 29 report from GlobalData. The value marked an increase of 106 percent over the previous quarter and a drop of 68 percent when compared with the last four-quarter average of $88 billion. In terms of […]
Economic Outlook for the United States
by The Perryman Group The U.S. job market has recently shown signs of recovery, though total employment remains well below pre-Covid-19 levels. The most recent U.S. jobs reports indicate gains of 2.7 million jobs in May and 4.8 million in June, with a decrease in the unemployment rate from 14.7 percent in April to […]
Chevron’s Noble Acquisition Bets on Future Gas Demand
Following the news that Chevron is to acquire Noble Energy for $13bn, Adrian Lara, senior oil and gas analyst at GlobalData, a leading data and analytics company, offered this view: “Since the crash of oil price and demand in March 2020, there has been an increasing expectation for mergers and acquisition (M&A) activity to show […]
Adapting to a New Digital Normal
While we all continue to address ongoing Covid-19 challenges, the Permian Basin Petroleum Association has been developing new and innovative methods to engage with our members as we advocate on behalf of operators and Permian Basin communities. While surely not our preference, PBPA has had to make informed decisions that protect the health of our […]
U.S. buildup of natural gas pipelines includes three projects in Permian
U.S. Energy Information Administration said this week in the first 6.5 months of 2020 about 5 billion cubic feet per day of additional natural gas pipeline capacity entered service in U.S. Projects primarily connect additional natural gas supplies to existing infrastructure; they include three projects totaling more than 1 billion cfd connecting to Waha hub […]
Permian moves from “dearth of takeaway capacity” to “surplus of pipe”
Oil & Gas 360 said Aug. 17 a series of pipeline project completions in late 2019 and early 2020 “moved the Permian from a dearth of takeaway capacity to a surplus of pipe.” Analysts said, “Pending projects led by ExxonMobil and Enterprise Products Partners would cause the Permian’s crude pipeline capacity to nearly double the […]
Permian, Bakken to add crude oil production in September
Production of crude oil is forecast to decline again in September in the nation’s seven major producing regions, according to latest drilling productivity report from U.S. Energy Information Administration. The EIA forecast Aug. 17 for September is 7,558,000 barrels per day – down 19,000 from 7,577,000 in August. Permian and Bakken are the only regions […]
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