Production of crude oil in Permian Basin is expected to grow another 57,000 barrels per day in December, according to the U.S. Energy Information Administration, to reach 4.727 million b/d while other regions contract. Seven major producing regions will grow by a total of 49,000 barrels per day in December to 9.133 million b/d. Natural […]
More than half of nation’s rigs drilling in Permian Basin
For the fifth straight week, Permian Basin is home of more than half of the nation’s active oil and gas drilling rigs. Baker Hughes said as of Nov. 22 there were 406 rigs in Texas (408 previous week, 493 previous year) and 803 rigs in U.S. (806 previous week, 1,079 previous year). New Mexico continues […]
Baker Hughes: Texas adds rigs for first time since August
Both U.S. and Texas reversed two-month declines in Baker Hughes’ count of active oil and gas drilling rigs. As of Oct. 11, Texas had the largest gain among states in the past week with 6 rigs added to raise its total to 420 (532 a year ago). And across the U.S. there was 1 additional […]
Shrinking the Footprint
The business of environmental services keeps evolving into something more akin to a real business function, and less like an onerous duty. The trend is driven partly by conscience and partly by receptivity to change. The days in which “environmental” was a dirty word in the oil patch are long gone, say the experts. More […]
Lease Prices, Demystified
In recent months some record dollar amounts have been paid for leases in the Permian Basin. In 2018 a Santa Fe firm that places bids for anonymous investors bid more than $95,000 per acre for a tract of U.S. government land on the New Mexico side of the Basin. That number was a record high […]
On the Front End
In this month’s roundup of news and views, we share some firsts and foremosts. The Basin is a fertile ground for superlatives and precedent-setters. These are the full versions of the “Drilling Deeper” news items that appeared as abbreviated versions in the print edition of PB Oil and Gas Magazine’s September 2019 issue. Longest Lateral […]
2019 slump in drilling rig count continues in U.S., Permian Basin
The count of active oil and gas drilling rigs has declined five straight weeks in the U.S. and four straight weeks in the Permian Basin as of May 10 as the 2019 slump for activity continues, according to Baker Hughes. The count was 988 (fewest since March 2018) in the U.S. – the third straight […]
To Turn Up the Pressure
The year 2019 began with the the frac industry under pressure as a whole, and pressure pumpers were no exception. A sudden oil price drop in December, coupled with downward pricing impetus from backlogged pipelines and year-end budget exhaustion led to a drop in completions—and a freefall in demand for fracturing crews and frac sand. […]
Spudding In
Recollections of the old “Fort Worth Spudder” and other early-day portable drilling machines. This photo shows what appears to be a stripped-down framework of an old Fort Worth Spudder. See other photos for comparison. by Bobby Weaver Probably the most recognizable imagery related to the oil field is a towering derrick. That was especially true […]
Small in the Permian
The way business is done in the Basin is changing fast, and many are saying that it’s a game for ever-bigger entities, but these three operators say that smaller can still be better—and they explain how and why that works for them. by Hanaba Munn Welch All it takes is a lease. The Permian […]
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