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 […]
Radiating Reliability
By Al Pickett, special contributor Up Hobbs way, a radiator magnate is paying it forward as he and his charges keep their clients’ motors cool and collected. When Permian Radiator Service and Supply broke ground on a new building recently in Hobbs, N.M., it was just another example of the impact that the booming oil […]
Drilling Efficiency
Drilling efficiency is the phrase on everyone’s lips, as the bar keeps getting set higher and higher. Industry observers weigh in on getting the most drilling done in the least time for the least money. Reducing drilling costs is an everyday topic in the oil patch and there is no simple answer. Is that site […]
Legislative Sessions
With the start of a new year, elected officials in Texas and New Mexico can begin digging into legislative issues instead of election infighting. Unlike previous years when the energy industry came under fire in both states concerning regulations or the commission that regulates its activities, 2013 is a year when experts are predicting relatively […]
The Vitality of the Independents
America has not fully grasped what has happened in the hinterlands of domestic energy, where old fashioned American ingenuity has achieved one of its greatest triumphs. In our first installment, we took up the idea that it wasn’t the major oil companies who re-invented the oil and gas industry—it was the independents, mainly in the […]
The Essential Element
Water, the universal solvent, the element that puts the “hydraulic” in hydraulic fracturing—this force of nature that also is a force that drives oil and gas exploration and production—is the hottest commodity in the industry. The No. 1 issue facing the Permian Basin today is not jobs or the economy. It is water. With drought […]
The Hands-Off Approach
Automation and remote monitoring are redefining the industry. As David Savells remarked, there is a saying in the oil and gas industry that “there is no way to recover lost production.” “If you lose two or three days of production, there is no way to make it up,” he observed. “That is why it […]
Economic Summit
The numbers out of Texas tell a story of economic prosperity. Number One exporting state. Extremely low unemployment rate. A leader in oil and gas production. In a presentation where seldom was heard a discouraging word, about the only washout was the state’s 40-year low in the numbers of cattle—a decline attributable to the extended […]
The Cline Beckons
Those living on the far eastern side of the Permian Basin have watched with interest as activity has surged in recent years with the development of the vertical, multi-zone Wolfberry play in the heart of the Basin. With the Midland-Odessa area enjoying remarkable growth, cities on the eastern shelf of the Permian Basin, such as […]
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