Dissolvable technology has been an evolving success story — innovation answering necessity in an industry never short of challenges. Today, dissolving plugs are a frequent if not typical component of most well completions, in all wellbore or downhole environments. Dissolvable plugs have proven to be particularly effective in long laterals with higher stage density. In […]
Cybertech’s New Norm
As the principal adversary hunter at Dragos, Joe Slowik is tasked with finding, tracking, and deleting malicious actors. Having seen firsthand the havoc that industrial control system adversaries can wreak on organizations both large and small, Slowik does not mince words: the threats and risks are real and potentially life threatening—i.e., sabotage of worksite safety […]
Mixed Signals Reflect Uncertainty in 2020
In this month’s roundup of news and views, we share some reports that, taken together, reflect the ups and downs, as well as the bullishness/bearishness, that jockeys for influence in the oilfield circa 2020. These are the full versions of the “Drilling Deeper” news items that appeared as abbreviated versions in the print edition of […]
PBPA: Out to Pave the Way
The Permian Basin Petroleum Association has been on a years-long crusade to bring not just attention but real remedies to what might be the Permian Basin’s biggest need: adequate highway and road infrastructure. Michael Lozano, manager of Community and Legislative Affairs for PBPA, spoke to this magazine recently about the long road they have traveled, […]
Phillips 66 to defer Red Oak pipeline amid 2020 budget cuts
Operators in Permian Basin’s energy industry continue to announce reductions in capital budgets for 2020. They include: Phillips 66 said March 24 it will defer its Red Oak pipeline as part of reducing its 2020 capital budget by $700 million to $3.1 billion. With Plains All American Pipeline, Phillips 66 formed Red Oak Pipeline to […]
Petro index declines again as production grows, total employment declines
Texas Petro Index by petroleum economist Karr Ingham declined for the 11th straight month in January 2020 to 191.9 after 193.6 the previous month in December 2019 and 212.5 a year ago in January 2019 (base 100 in January 1995, peak 313.9 in November 2014). In the past year, as of January, oil price (monthly […]
Permian Basin oil production to reach 4.792 million b/d in April
Permian Basin is forecast to be the only one of seven major producing regions in U.S. to grow its crude oil production in April, according to the drilling productivity report of March 16 from U.S. Department of Energy. Permian is expected to add 38,000 barrels per day in April compared to March to reach 4.792 […]
Officials consider consequences of drop in oil prices for state budget
Although it’s too soon to know how current global and national events will affect the state budget, the budget-writing process will begin soon as lawmakers prepare to convene in Austin in January 2021 for the next session of the legislature. Texas’ last budget adopted in spring 2019 was balanced with $2.9 billion to spare, comptroller […]
Basic Energy Services acquires C&J Well Services from NexTier
Fort Worth-based Basic Energy Services said March 9 it acquired production assets of NexTier for $94 million. NexTier’s production operation, known as C&J Well Services, was established in San Angelo in 1948 by Frank Pool and is reportedly the third largest rig servicing provider in the U.S. Keith L. Schilling, president and CEO, said, “This […]
Commission cancels March 31 meeting as calls come to limit production
Railroad Commission of Texas canceled its meeting scheduled Tuesday, March 31, because of the coronavirus outbreak as the commission receives calls to limit crude production. The commission has the authority to determine how much oil a lease can produce, according to Houston Chronicle, but it hasn’t used that power since 1973. The Chronicle said, “With […]
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