Welcome! Let me start off by saying that the title is just a rhetorical question. If you ask any safety person, they may say they have retired. Then if you do a small job around the house with them you will experience the fact that they do not retire. In that sense, they’re like the […]
ExxonMobil leads U.S., Permian in drilling rigs, Permian leads in frac crews
ExxonMobil is the most active driller in U.S. and Permian Basin, according to Enverus in its report of Oct. 8. Across the nation, ExxonMobil had 37 rigs followed by Occidental Petroleum and ConocoPhillips with 29 each, EOG Resources and Mewbourne Oil with 24 each, Continental Resources and Devon Energy with 21 each, Chevron with 19 […]
EIA reduces forecast for 2025 U.S. oil production to 11.3 million b/d
U.S. Energy Information Administration reduced its 2025 forecast for U.S. lower 48 states for crude oil production from last month by 1 percent to 11.3 million b/d. That reflects a downward revision to EIA’s WTI crude oil price forecast (to average $72/b in 4Q or $6/b lower than forecast last month). EIA said Oct. 8 […]
EIA reduces forecast for Brent crude oil spot price through yearend 2025
U.S. Energy Information Administration recently reduced its forecast for Brent crude oil spot price through the end of next year. EIA said Oct. 8 it expects the price to average $81 per barrel in 2024 ($83/b in previous forecast) and $78 per barrel in 2025 (down 7.7 percent from $84 per barrel predicted earlier for […]
Texas adds 6 drilling rigs in past week, Permian unchanged with 304 rigs
Texas led major producing states with a gain of 6 drilling rigs in the past week, according to the weekly report of Oct. 11 by Baker Hughes. Oklahoma was the only other state to add a rig. There were 304 rigs in Permian Basin (unchanged in past week, down 7 from 311 year ago), 285 […]
APA Corp. curtails production of natural gas, NGLs in third quarter
Houston-based APA Corp. curtailed about 103 million cubic feet per day of natural gas production in third quarter “in response to weak or negative Waha hub prices.” APA said Oct. 9 it also curtailed about 10,000 barrels per day of natural gas liquids in 3Q “mostly associated with the voluntary gas curtailments.” Reuters said APA […]
Water and Its Ways
For decades oil and gas producers had a great luxury—they could cheaply dispose of produced water in saltwater disposal wells (SWDs) near the production wells. But the old saying about going to the well once too often is becoming more and more real in the SWD space, necessitating some big changes, with potentially much higher […]
Testimony at hearing includes promise of clean air, warns of seismic activity
Testimony at last week’s hearing in Odessa about a proposed carbon dioxide injection site in Ector County included local leaders and executives promising cleaner air and more jobs and environmental activists warning of seismic activity and water contamination. About 15 people testified at the hearing Oct. 3 in Odessa conducted by U.S. Environmental Protection Agency […]
EIA: U.S. leads in exports of motor gasoline with 16 percent of global exports
U.S. Energy Information Administration reported recently that U.S. is the world’s largest exporter of motor gasoline (finished gasoline plus gasoline blending components) by supplying more than 16 percent of total global exports. U.S. motor gasoline exports in 2023 averaged 900,000 barrels per day, equivalent to about 10 percent of domestic consumption – enough to fill […]
Post Oak Energy Capital makes equity commitment to Permian E&P Ichthys
Houston-based private equity firm Post Oak Energy Capital said last week it completed an equity commitment to newly formed Ichthys Energy Partners, a Dallas-based exploration and production firm. Ichthys will seek to execute a growth strategy focused on operated and non-operated leasehold acquisitions and strategic partnerships in Permian Basin. Michael Poynter, CEO of Ichthys, said […]
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