Anatomy of a Turnaround Two highly respected industry observers share insights into the recovery of 2017—a recovery that, if not “officially” in the works, is bound to unfold. The thing is, this recovery will be different from anything we’ve ever seen before. by Jesse Mullins For the Permian Basin Petroleum Association, fall means fresh […]
Bouncing Off Bottom
Every problem holds the seeds of its own solution. How the crude oil price collapse—grasped holistically—reveals the steps that will right the ship. First glimmers of a better day coming. by Jesse Mullins It was Will Rogers who said that an economist’s guess is liable to be as good as anyone else’s. When the […]
Adaptation, Diversification & Hunting
Oilfield service companies come in all shapes and sizes. While competition is most certainly fierce, it may also be fair to say that no two service companies are exactly alike. They are far-ranging in size, in scope, and in their offerings. Separate from active drilling operations, but practically indispensible to the practice of drilling, service […]
The Broader Picture | May 2016
EIA Mar. 30 The profitability of oil and natural gas development activity depends on both the prices realized by producers and the cost and productivity of newly developed wells… Costs per well generally increased from 2006 to 2012, demonstrating the effect of rapid growth in drilling activity. Since 2012, costs per well have decreased […]
How the Workforce is Changing, Part 3: Change is Inevitable
by Shanti Terry “Education is our passport to the future, for tomorrow belongs to the people who prepare for it.” – Malcolm X After transferring to Texas A&M as a sophomore, one of the first things my roommates suggested I purchase was a pair of rain boots. I scoffed at the idea. Having been […]
How the Workforce is Changing, Part 2: Employers Have Changed
By Shanti Terry As the workforce for the oil and gas industry change and adapt over time, employers for the industry are finding that they too have to evolve. According to the experts interviewed for this second look into why today is not your grandfather’s oilfield, some things have stayed the same, but most are […]
After the Black Gold Rush
Some layoffs, efficiency improvements, and price decreases keep area dirt movers from being buried alive. By Paul Wiseman “This slowdown has been different [from the 2009 downturn] because it has affected a lot more people this time,” said Nick Tomlin, vice president of Big D Companies. With approximately 280 employees, Big D is one of […]
Bowed But Not Beaten Part Three
In our concluding Part 3 of this series, we arrive at the take-aways. Some are bitter medicine, others are rather more palatable. The dip that the Permian Basin has felt since last fall will soon go into its second year, and some “new normals” are emerging, but they’re not all bad. by Jesse Mullins As […]
Elevated Perspective
Steve Pruett and his well-placed partners have put together one of the biggest new E&P outfits to hit the Permian in several years. By Al Pickett, special contributor The most important factor in securing equity funding for a start-up energy company is people, according to Steve Pruett. “It is a marriage of people, experience, a […]
Play-by-Play Report
The Permian’s productive plays are newmaking and interesting in and of themselves, but they reveal unique and often-unexpected qualities when alongside the plays of outlying regions. Pete Stark calls them the “Big Three” of the tight oil plays. “If you look at the Bakken, the Eagle Ford, and the Wolfberry, those three plays have been […]
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