New research by Deloitte, reported by Oil & Gas Journal, says shale operators in Permian Basin could generate capital efficiency gains of 23 percent if they fully optimized well designs. Combined with 19 percent gains possible in Eagle Ford in south Texas, Deloitte said that would represent a $24 billion capex savings opportunity for U.S. […]
Rig counts decline in Permian, Texas, New Mexico, U.S.
Declining counts of active oil and gas drilling rigs returned to Permian Basin, Texas, New Mexico and U.S. as of Oct. 25, according to Baker Hughes. The Houston-based oilfield services company said there are 417 rigs in Permian (422 previous week, 489 previous year), 418 rigs in Texas (423 previous week, 537 previous year), 110 […]
Chevron president says Permian not susceptible to “boom and bust” cycle
The president of Chevron-North America said Permian Basin won’t be susceptible to historic boom-and-bust cycles that have for decades occurred in the oil and gas industry. Speaking Tuesday at the Lone Star Energy Forum in Austin, Steve Green said, “We see a long, healthy pace of activity in the Permian and Texas for decades to […]
MDM Permian, FireDream Resources form alliance for Midland Basin wells
Addison-based MDM Permian said Oct. 11 it has formed an alliance with Frisco-based FireDream Resources to jointly develop up to 200 wells in the southern Midland Basin. MDM Permian is the prospect generator and operator for the agreement that begins with four wells in Irion County on the 160-acre Lindley lease from Canyon Sands at […]
What Sells, and Why: An Auction Primer
Via email, Ben Beasley, Director, Strategic Accounts (Ritchie Bros.) provided PB Oil and Gas Magazine with feedback, as follows. PB Oil and Gas: What are the top items, count-wise, being put up for auction in the Permian over the last six months, or since January, whichever way you have recent time frames calculated? How has […]
Living in the Real World
“The last sale we had, I got up [on the podium] at 10:00 in the morning and got down at 7:30,” said Machinery Auctioneers Owner/Auctioneer Terry Dickenson. “I never left the chair.” How does he keep from losing his voice after nine-and-a-half hours of constant auctioneering? “Well, the voice, you know—you just get on adrenaline” […]
Channeling a Future
MIDLAND, TEXAS—The assembled membership of the Permian Basin Petroleum Association welcomed Omar Garcia as its luncheon speaker when the association resumed its monthly luncheon meetings here at the Midland Petroleum Club on Thursday, Sept. 19. The keynote speaker for this occasion was Omar Garcia, Chief External Affairs Officer for the Port of Corpus Christi Authority. […]
Group attributes construction job growth to oil, gas industry in New Mexico
A surge in construction jobs continues in New Mexico thanks to the oil and gas industry, according to the Santa Fe New Mexican. Industry group Associated General Contractors of America said New Mexico added 4,300 construction jobs in one year from August 2018 to August 2019 to reach 51,000 construction jobs. The New Mexican said […]
All seven U.S. regions post declines in drilled but uncompleted wells
All seven major oil- and gas-producing regions in the U.S. posted declines in the count of drilled but uncompleted wells (DUC) in September. Anadarko (down 59 DUC wells from August) and Permian (down 49 DUC wells to 3,668) led the declines from the previous month. Across the U.S., there were 7,740 DUC wells in September […]
Texas marks consecutive weeks of rig count gain for first time since April
Texas recorded consecutive weeks of gains in count of active oil and gas drilling rigs as of Oct. 18 for the first time since April. Baker Hughes said Texas added 3 rigs in the previous week for a new total of 423 (540 a year ago) after adding 6 rigs in the Oct. 11 report […]
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