Fort Worth-based Next Bridge Hydrocarbons said last week is now owns 100 percent of working interest in the Orogrande project in Hudspeth County in west Texas on about 134,000 contiguous acres. Next Bridge closed a previously announced merger agreement with two companies (22.62 percent working interest), Wolfbone Investments and McCabe Petroleum, owned by its largest […]
Midland Basin operator HighPeak slows development plans, but maintains output
Fort Worth-based HighPeak Energy said recently it is altering its 2023 drilling and completion plans and dropping from four to two rigs next month for the remainder of 2023. HighPeak had already reduced its completion activity from four crews to two “to complete the operational DUC wells generated by the previous six-rig program.” The revised […]
Texas, NM contribute most growth as U.S. production increases 5.6 percent
U.S. Energy Information Administration said last week Texas and New Mexico contributed the most growth as U.S. crude oil production increased 5.6 percent (0.6 million barrels per day) in 2022 compared to 2021. U.S. averaged 11.9 million b/d in 2022. EIA said attribute the growth to the Permian Basin. Crude oil production grew more in […]
Bloomberg after PDC sale: ‘U.S. energy patch ripe for takeover boom’
Chevron CEO Mike Wirth told Bloomberg this week that Monday’s announcement of the company’s acquisition of Denver-based PDC Energy “doesn’t preclude our ability to do further transactions, but we don’t have gaps to fill. We’re always looking, but we’ll stay very disciplined as we have been on a number of transactions we have done over […]
Workforce Development and Literacy Skills Go Hand in Hand
Workforce development in the Permian is a hot topic. Still, as I have met with various educational and non-profit organizations, there needs to be more clarity between what the industry needs and how the word is getting out on professional development offerings for our workforce. I learned that some organizations could better market their offerings […]
HR in a Box: Keep it Simple, Keep it Legal
I recently presented on my favorite Human Resources (HR) topics and was pleasantly surprised that more participants than not answered over half my questions correctly. The same day of the presentation, a client called and asked me a question; I answered that the client had to pay the individual who resigned unless they wanted to […]
Leadership: Listen and Learn
Listen and learn, or a meltdown may be just around the corner. I pulled out eight or ten books on leadership skills for this article, and I came up with the same conclusion—the best manager skills are to listen and learn. Listen to your employees because they are often not just thinking about themselves. Employees […]
Lending’s Changing Scene
As ESG (environmental, social and governance) and energy-transition-related concerns have caused most large and midsize banks to exit the oil and gas industry, local lenders like Midland’s Community National Bank and Odessa-based Southwest Bank have benefited by seeing some of those customers come their way. On the borrower side, Northern Oil and Gas has funded […]
The Workforce of Tomorrow. Success Breeds Success
Jim Collins has written extensively about the concept of turning the flywheel. The idea is simple. Success breeds support and commitment, which breeds even greater success, which breeds more support and commitment… around and around the flywheel goes. People like to support a winner. I have written about leadership quite a few times and have […]
Pumping Black Gold
With the spread of horizontal drilling around 2013-15, the artificial lift landscape began to change. For almost 100 years most wells had started the production phase with a beam pump (pumpjack) and finished with the same. Horizontal wells are a more complex beast, as production levels drop significantly over a well’s life. Changing production levels […]
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