December 2, 2001, was a day of infamy for thousands of people. On that date Enron declared bankruptcy, trading at a paltry $.26 per share after topping the scales at more than $90 per share a few months earlier. That is also the time that Midland entrepreneur Tripp Wommack sees as the beginning of prime […]
Baker Hughes, 2 others form partnership to develop AI for energy industry
Houston-based oilfield services company Baker Hughes, tech giant Microsoft and Silicon Valley artificial intelligence company C3:ai last week said they have agreed to partner to bring enterprise artificial intelligence solutions to the energy industry on Microsoft Azure, a leading cloud computing platform. Baker Hughes’ announcement said the alliance “will enable customers to streamline the adoption […]
Crude oil production to grow in Permian to 4.727 million b/d in December
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 […]
Just a Click Away
A sign of the times: eCommerce reaches the oil patch. As much as Amazon revolutionized the business-to-consumer market by offering an online marketplace that has largely left the brick-and-mortar business model crumbling in ruins, the oilfield marketplace has largely continued on in time-tested fashion, as follows: A buyer looking for pumps or valves gets out […]
Happy Thanksgiving
The candy season of Halloween has passed so bring on the turkey and dressing and holiday parties. There are only 4 weeks between Thanksgiving and Christmas, so get busy. Are you feeling the pressure yet? Because I’ve started my yoga breathing just to finish typing this sentence. The reality of the holiday season means that […]
Drilling Deeper
It’s a New World In this month’s roundup of news and views, we share some headlines that, five years ago, few would have expected to see. But that is how much things have changed since the previous boom cycle. These are the full versions of the “Drilling Deeper” news items that appeared as abbreviated versions […]
MDM Permian, FireDream Resources form alliance for Midland Basin wells
Addison-based MDM Permian said Oct. 11 it has formed an alliance with Frisco-based FireDream Resources to jointly develop up to 200 wells in the southern Midland Basin. MDM Permian is the prospect generator and operator for the agreement that begins with four wells in Irion County on the 160-acre Lindley lease from Canyon Sands at […]
Hiring and Firing: What do I need to know?
What are a few critical things that you need to know before hiring or firing an employee? First, avoid hiring people who are not a good fit for the organization. I have had clients that were so quick to hire that they did not read the job application. How do you tell your boss that […]
Enterprise to expand ATX pipeline from Appalachia to Texas
Houston-based Enterprise Products Partners said Monday it will expand its Appalachia-to-Texas ethane pipeline. The ATX pipeline of 1,200 miles transports ethane from Marcellus-Utica region of Ohio, Pennsylvania and West Virginia to EPP’s natural gas liquids storage complex in Mont Belvieu east of Houston. Current capacity is 145,000 barrels per day, and Enterprise said it is […]
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