Occasionally I travel to places outside of the Permian Basin. I know, I know. You might be asking, why would I ever leave the oasis that is Midland, Texas? Well, I figure if our oil has mobility around the world, I guess I can do a bit of traveling too. When I do travel, I […]
Gas production down in 2024, climbs in 2025 in Permian, Appalachia, Haynesville
In its short-term energy outlook released last week, U.S. Energy Information Administration said U.S. benchmark Henry Hub spot price for natural gas is forecast to stay below $2 per million British thermal units in second quarter. The price averaged an inflation-adjusted low of $1.72 per MMBtu in February. EIA said March 12, “We expect natural […]
U.S. added 7 rigs last week (largest increase in 6 months), Permian up to 316
U.S. oil and gas drillers added the biggest number of drilling rigs for a week in six months since September, according to the weekly report of March 15 from Baker Hughes. There were 629 rigs in U.S. – up from 622 the previous week, down from 754 a year ago. Also, there were 316 rigs […]
EIA forecasts Permian oil production to grow to 6.112 million b/d in April
Crude oil production in Permian Basin is forecast to increase by 8,000 barrels per day in April to 6.112 million b/d after 6.104 million b/d in March. In its drilling productivity report Monday, U.S. Energy Information Administration said oil production overall in seven major producing regions is forecast at 9.769 million b/d for April – […]
Where the Water Goes
An oil well produces three things: oil, natural gas and (mostly) water. All three of those things have to have somewhere to go in order for the well to operate, and right now only two of them are profitable. The last is working its way up from being a nuisance to being a useful byproduct, […]
EIA raises forecast for spot price of Brent crude oil to $88/b for 2024Q2
U.S. Energy Information Administration this week raised its forecast for spot price of Brent crude oil to $88 per barrel for the second quarter of 2024. That’s up $4 per barrel from Feb. 6 forecast. And EIA said Tuesday the forecast price for fullyear 2024 is $87 per barrel compared to $82 per barrel as […]
Permian Basin drives record production in U.S. for sixth straight year
U.S. Energy Information Administration said this week the U.S. produced more crude oil in 2023 than any nation ever for the sixth straight year. Crude oil production in the U.S., including condensate, averaged 12.9 million barrels per day in 2023 – breaking the previous U.S. and global record of 12.3 million b/d in 2018. Average […]
Operators report drilling test wells for carbon dioxide storage projects
Operators are drilling a new type of well in east Texas, where carbon dioxide pipelines, top-tier geology and industrial emissions are combining to spark a race to take advantage of incentives fueled by climate change. Houston Chronicle said Monday Chevron started drilling test wells in February for its 142,000-acre carbon storage project in Jefferson County […]
Kinetik completes gathering system expansion into Lea County, N.M.
Midland-based Kinetik Holdings said recently it completed the third of three strategic growth projects in its 2023 capital program when it placed online gathering system expansion into Lea County, N.M. Kinetik said the expansion was placed online Jan. 18 (two months ahead of schedule) and under budget. Jamie Welch, president and CEO, said Feb. 28, […]
R-e-s-p-e-c-t
Let’s launch into our subject by posing a question: How is today’s workforce different from that of any other generation in our industry? Back in the day, you just did exactly as you were told, without deviation. Whether you were a person new to the industry or a seasoned veteran, you understood that no explanation […]
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