Big Oil is outside looking in. As the major oil companies return from offshore and overseas to American fields to grab a piece of the shale revolution, a revolutioncreated by independent oil and gas companies—largely in Texas and New Mexico—the Bigs find that the independents sit upon the leaseholds they (the majors) once controlled. And […]
A Different Kind of Liquids Play
The search for solutions to the Permian Basin’s water quandaries lead almost invariably to one destination: desalination. Anthony Smith claimed water treatment and re-use will be a critical focus going forward in the Permian Basin. “We have a big opportunity to treat and re-use flowback and produced water on daily basis,” offered Smith, the Permian […]
Seismic Shifts in the Seismic World
Whether you call it “seismic” or “geophysical,” this industry-within-an-industry keeps broadening its frontiers. On a hot day in June 1921 the first successful test of the reflection seismograph was completed north of Oklahoma City. “Here we are in 2013, less than a hundred years later, and a lot of exciting things are happening,” said Kevin […]
Sparklers, Oilfield Style
The Permian Basin Petroleum Museum unveiled some resplendent rocks in a dazzling exhibition, the Judson Mineral Gallery. The woman peered intently through the glass at each sparkling rock and finally commented, “This exhibit is as good as the one in Houston.” She was among the crowd attending a gala event at the Permian Basin Petroleum Museum in […]
Bull Ring: More Than a Steakhouse
In Santa Fe, The Bull Ring mixes the business of oil and gas with the pleasure of great food. The first thing you need to know about Santa Fe, New Mexico’s The Bull Ring is this: “It’s a place to see and be seen,” says Steve Henke, president of the New Mexico Oil and Gas […]
From the Chairman: Victims of Our Own Success
Pipeline “takeaway capacity” remains one of the most critical issues facing Permian Basin oil and gas interests. Is the Permian Basin oil and gas industry about to be a victim of its own success? We are seeing $20+/bbl price differentials between WTI Cushing and Brent crude prices and recently $8-10/bbl additional differential between Midland and […]
From the President: Seeking Consensus
Legislative matters, regulatory issues, and the science question, revisited. Both the Texas and New Mexico legislative sessions are in full swing. Both legislatures are full of new faces. In Texas, there are over 40 freshmen House members. PBPA hosted a luncheon for these new Texas house members last month the day before the session began. […]
From the General Counsel: NPRI Owners and Their Interests
The Non-Participating Royalty Interest Owner has been known to make things interesting for operators when the former has not fully been taken into account. Operators of oil and gas lands can potentially tread some dangerous water when it comes to the payment of royalties to all interest owners. Typically, operators have Drilling Title Opinions drafted […]
From the General Counsel: No Going Back
The backdating of pooling agreements is not permissible, per the Texas Supreme Court. The Texas Supreme Court recently provided guidance on the practice of backdated pooling agreements when it denied review of a memorandum decision issued in June 2012 by the Eleventh Court of Appeals. Eddie E. Godfrey, individually, and Eddie E. Godfrey and Jay […]
From the Chairman: Transformational Times
The transition from conventional play to unconventional play has become the defining mark of the revitalized Permian Basin’s oil and gas industry—a transition that poses both rewards and challenges. The Permian Basin is going through a transformation from exploration for conventional reservoirs to targeting tight unconventional reservoirs. As a result, the Permian Basin is an […]
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