Crude oil production leader Permian Basin is expected to add an additional 48,000 barrels of production per day next month to reach 4.742 million barrels of crude oil per day, according to the drilling productivity report of Dec. 16 for seven major regions by the U.S. Energy Information Administration. Because of contractions in most other […]
Karr Ingham’s Texas Petro Index declines again to below 200
The Texas Petro Index by petroleum economist Karr Ingham declined for the eighth straight month in October and fell below 200 for the first time since 2010. The index, based on a comprehensive set of industry economic indicators, was 196.9 for October (base 100 in January 1995). The index started the year at 212.5 in […]
Interim charges in Texas House include oil and gas wastewater study
Interim charges to committees in the Texas House of Representatives include a joint charge to the energy resources and ways and means committees to study the status of recycling and reuse of produced oil and gas wastewater and evaluate methods to incentivize these processes. Speaker Dennis Bonnen also requested that the energy resources committee study […]
Baker Hughes to power Texas facilities with renewable souces wind, solar
Houston-based Baker Hughes said Dec. 11 it signed a 10-year agreement with French-owned power company EDF Energy to get 100 percent of electricity for its 170 facilities in Texas from renewable sources wind and solar. Baker Hughes said the power will come from the White Mesa wind farm of Apex Clean Energy near the west […]
Baker Hughes: Rig count rebounds in Permian Basin, Texas and U.S.
Baker Hughes’ count of active oil and gas drilling rigs rebounded in the weekly report for Dec. 20 for the first gains in Permian Basin, Texas and U.S. since October. Baker Hughes said there were 414 rigs in Permian Basin (400 a week ago, 486 a year ago), 418 in Texas (400 previous week, 531 […]
Henry Resources has Texas’ most productive well for 2019
Midland oil and natural gas company Henry Resources has the state’s most productive well, according to Enverus’ drillinginfo.com and the Houston Chronicle. Enverus ranked approximately 8,000 oil and natural gas wells in Texas this year based on production for the first six months of the life of each well. Henry operated three of the top […]
WPX Energy acquires Permian Basin assets from Felix Energy
Tulsa-based WPX Energy said Dec. 16 it is acquiring Denver-based Felix Energy, a Permian Basin operator, for $2.5 billion. WPX is purchasing Felix’s acreage in Loving, Ward and Winkler counties in west Texas in the core of the Delaware Basin for $900 million in cash and $1.6 billion in WPX stock. Felix has about 1,500 […]
Devon exits Barnett Shale with sale of assets to Banpu, Kalnin Ventures
Oklahoma City-based Devon Energy exits the Barnett Shale, “birthplace of the shale revolution,” with the sale of its Barnett assets for $770 million to Denver-based private equity firm Kalnin Ventures, which is backed primarily by Thailand coal mining and power giant Banpu. The shale position will be operated by BKU Oil & Gas Capital Partners. […]
Sharing Their Visions: Two Basin Thought Leaders
A PBPA Q&A with Christie Craddick, Texas Railroad Commissioner The Permian Basin Petroleum Association is pleased to serve up this feature for readers of Permian Basin Oil and Gas Magazine. This “PBPA Q&A” is an opportunity for readers to learn a little bit more about industry and regulatory leaders, energy pioneers and elected officials, about […]
EIA: U.S. companies vented, flared record volumes of natural gas in 2018
U.S. Energy Information Administration said recently that U.S. oil companies vented and flared a record amount of natural gas in 2018. Industry companies vented or flared 1.28 billion cubic feet of natural gas per day during 2018, the EIA said Dec. 6. At the current market price of $2.41 per million British thermal units, according […]
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