Houston-based Apache Corp. said Feb. 26 it currently does not plan to drill additional wells on its disappointing shale discovery Alpine High near Balmorhea in west Texas. Clay Bretches, CEO of Altus Midstream, Apache’s pipeline spinoff, said, “Apache has no current plans for future drilling at Alpine High… Our financial results in 2019 were impacted […]
O&G’s X Factor
Never spend your money before you have it. —Thomas Jefferson What some might consider a bad habit—waiting 60-90 days to pay invoices—has birthed a business sector whose purpose is to bridge that gap by advancing money on those unpaid debts. Known as factoring or accounts receivable (AR) financing, this service allows companies—usually service providers—to stay […]
The Outlook for Land
As recently as 2018 a lease price of $95,000 per acre for a tract on the New Mexico side of the Permian Basin was setting records. Prices of $40,000 were not unheard of. How quickly things change! The dawn of 2019 saw the end of investors’ spend-and-grow mantra, and the birth of make-money-now thinking. Leasing, […]
An Industry Looks Ahead
In this month’s roundup of news and views, we share some reports that take an eye to the future. These are the full versions of the “Drilling Deeper” news items that appeared as abbreviated versions in the print edition of PB Oil and Gas Magazine’s March 2020 issue. Fewer Recessions Due to the Shale […]
Key to industry’s future: Reusing oilfield wastewater
New studies by scientists at University of Texas and three other universities conclude that reusing oilfield wastewater for hydraulic fracturing will be critical to maintaining productivity in U.S. shale plays. Scientists from Jackson School of Geosciences in Austin studied how much wastewater is produced in eight major U.S. shale plays and options for recycling and […]
Increase in use of natural gas leads to decrease in CO2 emissions
Officials from Grow America’s Infrastructure Now said last week in Midland the U.S. recorded the largest decrease in carbon dioxide emissions of any country last year because of its transition from coal to natural gas. They participated in a panel discussion with Midland-Odessa Transportation Alliance Feb. 20 about Permian Basin’s role in the energy industry. […]
Enbridge to buy Rio Bravo pipeline to Brownsville from NextDecade
Canadian pipeline operator Enbridge has agreed to buy for $25 million the Rio Bravo pipeline project from Houston liquefied natural gas company NextDecade. Enbridge will oversee construction and operation of the proposed 137-mile natural gas pipeline. Enbridge executive vice president Bill Yardley said Feb. 13 the transaction “fits squarely within our low-risk business model.” Rio […]
Permian, New Mexico, U.S. add drilling rigs in past week
Permian Basin, New Mexico and U.S. added drilling rigs again in the previous week, according to the Feb. 21 report by Baker Hughes, and Texas held steady with 397 active rigs. Permian Basin added 1 rig for a new total of 409 (473 a year ago), New Mexico added 2 rigs (113 previous week, 108 […]
Permian to add 39,000 b/d of crude oil production in March to 4.855 million
Permian Basin is the only one of seven major regions in U.S. expected to increase in crude oil production in March, according to drilling productivity report of Feb. 18 by U.S. Energy Information Administration. Permian is forecast to add 39,000 barrels per day to 4.855 million (4.816 million b/d in February). Across the seven regions, […]
Ring Energy to drill 10 horizontal wells in Yoakum County
Midland-based Ring Energy is seeking permission to drill 10 horizontal oil wells on five leases in Yoakum County on what the Houston Chronicle called “a geological target that most companies ignore.” The wells will target the Platang field of the San Andres geological layer to a total depth of 9,000 feet.
- « Previous Page
- 1
- …
- 259
- 260
- 261
- 262
- 263
- …
- 363
- Next Page »