Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

The Dallas Fed’s Outlook, Opinions in Madrid, a new Exchange, and a Good Steak Joint Gone

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The journal entries below are excerpted from recent installments of James Wicklund’s “Things I Learned…” newsletter.   Perspective.  The Dallas Federal Reserve Bank issued their 2nd quarter review of the oil and gas industry. Production was little changed; costs rose faster for OFS and still rose but more slowly for E&P. OFS utilization improved but margins were […]

Granite Ridge adds drilling locations in Delaware, Midland basins

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Dallas-based Granite Ridge Resources said recently in an operational update it closed multiple transactions in second quarter that added 16.4 net future drilling locations for $22.4 million.  And in traditional non-op, Granite Ridge acquired 51 gross (4.7 net) future drilling locations in Delaware, Midland and three other basins for a total cost of $12.6 million. […]

Occidental 2024 forecast remains steady, Permian 2Q production above midpoint

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Houston-based Occidental Petroleum said recently its forecast for 2024 fullyear production remains 1,290,000 to 1,340,000 boed.  In its second quarter report, Occidental said its 2Q production was 1,258,000 boed – up from 1,172,000 boed in 1Q.  Oxy’s 2Q production in Permian Basin (587,000 boed) and Gulf of Mexico both exceeded midpoint of guidance.  U.S. oil […]

Water Y’all Talking About?

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Closely watched litigation regarding the definition and ownership of water has percolated up to the Texas Supreme Court. Interestingly, Cactus Water Services, LLC v. COG Operating, LLC[i] has received amicus curiae briefs from associations across the state representing farmers, ranchers, land, and mineral owners requesting the Court to uphold one of the fundamental foundations of […]

Lone Star Production president Grant Johnson named chairman of TIPRO

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T. Grant Johnson of Houston this week was named chairman of the board of directors for Texas Independent Producers and Royalty Owners Association. Johnson has worked more than 40 years in the energy industry and most recently served as president of Lone Star Production Co., a privately-owned corporation founded in 1991 to conduct exploration and […]

Delek Logistics to acquire H2O Midstream assets in Midland Basin

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Houston-based H2O Midstream and private equity firm EIV Capital said recently they agreed for H2O Midstream to be acquired by Delek Logistics Partners.  H2O Midstream provides gathering, transportation, recycling, storage and disposal solutions for produced water in Howard County.  EIV Capital and H2O Midstream partnered in 2016 to pursue produced water midstream opportunities in Permian […]

Enterprise to acquire Pinon Midstream assets in Lea, Winkler counties

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Houston-based Enterprise Products Partners said this week an affiliate is acquiring Pinon Midstream in a debt-free transaction for $950 million cash.  Pinon Midstream provides natural gas gathering and treating services in the core of the eastern Delaware Basin in southeastern New Mexico and west Texas.  Pinon’s assets include 50 miles of natural gas gathering and […]

Lateral Moves

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Longer laterals, faster completion times, and tightening budgets have pushed downhole tools to their limits in the last five years. Innovators at service companies like Neo Oil Tools, NOV, and Baker Hughes are also pushing the research envelope to adapt their equipment and procedures to the demands of today’s oilfield. In every case they’re finding […]

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