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 […]
Concho, Frontier agree to joint venture in northern Midland Basin
Midland-based Concho Resources and Tulsa-based Frontier Midstream Solutions said last week they formed a joint venture, Beta Crude Connector, to build and provide crude oil gathering, transportation and storage in northern Midland Basin. Frontier will be operator with initial flows scheduled mid-2019. The new system will be comprised of 100-mile gathering system, 250,000 barrels of […]
Chevron acquires Anadarko to create Permian’s biggest producer
Chevron’s pending acquisition of The Woodlands-based Anadarko for total transaction value of $50 billion increases Chevron’s Permian Basin output by about 50 percent, according to drillinginfo, and makes it the largest producer in the basin. Anadarko’s Delaware Basin acreage is in the heart of Chevron’s holdings in the basin, creating a 75-mile-wide corridor that allows […]
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 […]
Future Oil Price Road Map: See For Yourself
What’s going on? Less than 4 months ago in early October, WTI was $77/B and some international banks and trading houses said it was going to $100/B! Just over 2 1/2 months later, on the day before Christmas, WTI had fallen to $42/B. The Wall Street Journal kept saying it was all because of a […]
WTI OIL $67/B IN 2019
by Paul Kuklinski [EDITOR’S NOTE: The date above says “Jan. 17,” and that is indeed the date that we posted this content to our website, but the material itself was provided to PB Oil and Gas in mid-December. We did not post this content at that time because, although we receive all of Boston Energy […]
Hiring: How Will the People Be Found? Part 2 of 2
More than ever, the success, and the future, of the Permian Basin depends on the region’s ability to hire the right people and in the necessary quantities. Being attractive enough to potential workers beyond New Mexico and Texas can mean less competition within the region for its limited pool of qualified workers, and thereby can […]
HRIQ: Oil and Gas Technology and Labor
by Bill Price Technology has dramatically changed the oil and gas industry in the last decade. We know the effect of enhanced oil extraction on production but this was only possible through the introduction of sophisticated technology. The energy industry has become less labor intensive, as is true of most industries. The industry has experienced […]
HRIQ: Child Labor – Is It Okay?
by Bill Price It might seem surprising to see a headline calling attention to a discussion of child labor, and child labor laws—that whole topic seeming like something right out of the 19th century. But child labor is still a topic of discussion, even today, and knowing about it, and about its governance, is […]
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