Permian Basin Petroleum Association will conduct its 2023 annual meeting this week at Permian Basin Petroleum Museum and Petroleum Club of Midland.  Speakers at the event Wednesday and Thursday will include state representatives Tom Craddick of Midland, Drew Darby of San Angelo and Brooks Landgraf of Odessa, Robert Crain of Texas Pacific Water Resources, and […]

Permian Basin, Texas, New Mexico and U.S. posted declines in counts of active drilling rigs in the past week, according to Baker Hughes.  Texas’ loss of 5 rigs was the largest among major producing states – none of whom posted a gain in the past week.  Texas’ count of 312 as of Sept. 22 is […]

Production of crude oil in Permian Basin is forecast to decline again in October, according to the latest drilling productivity report from U.S. Energy Information Administration.  EIA said Sept. 18 oil production in Permian will be down by 26 million barrels per day to 5.773 million b/d in October from 5.799 million b/d in September.  […]

U.S. exports of petroleum products grew 2 percent to nearly 6.0 million barrels per day in the first half of 2023 compared to the same period in 2022, according to U.S. Energy Information Administration.  EIA said Wednesday it’s the most U.S. petroleum product exports in the first half of any year in its records dating […]

The number of U.S. registered light-duty electric vehicles on the roads reached 2.13 million in 2021, according to U.S. Energy Information Administration, a significant increase from less than 100,000 EVs in 2012. EIA said Wednesday that EVs have become more popular in the U.S. over the past decade because of consumer preferences, increasing number of […]

Houston-based Marathon Oil said recently it turned eight wells to sales during second quarter of 2023 in Permian Basin, which featured the company’s “best-ever drilling performance.”  Mike Henderson, executive vice president, said during a 2Q earnings call Aug. 3 that Marathon’s Permian drilling in 2Q also produced its best completion efficiency.  Marathon’s production in Permian […]

Houston-based Evolution Petroleum and Pacific Energy Development Corp. said last week they will jointly develop PEDEVCO’s Chaveroo oilfield in the northwest shelf of southeastern New Mexico in Permian Basin.  Chaveroo, conventional oil-bearing San Andres field in Chaves and Roosevelt counties, originally was developed with vertical wells on 40-acre spacing.  PEDEVCO has drilled 10 horizontal infill […]

Somerville, Mass.-based Amplified Technologies said recently it launched new digital technology to provide oil and gas operators with realtime operations data.  The startup was launched with $10 million in funding.  The company’s customers, including several in west Texas, range from small operators with 12 wells to large operators with 2,500 wells.  Amplified said Aug. 29 […]

Rig counts in Permian Basin, Texas and U.S. continued to rebound, according to weekly report of Sept. 15 by Baker Hughes.  There were 322 rigs in Permian Basin (320 last week, 343 year ago), 317 in Texas (310 last week, 364 year ago) and 641 in U.S. (632 last week, 763 year ago).  The count […]