It is time for many employers to begin open enrollment for their employees’ insurance and other benefits for the 2025 year. Are you ready? Have you met with your broker and rebid your current product offerings? Have you met with at least one other broker to see if your current broker continues to be […]
Permian People – October 2024
Hirings, promotions, and other personnel matters in the nation’s biggest oil patch, the Permian Basin—or in companies who do business here. U.S. Energy Development Corporation (U.S. Energy), an E&P with projects throughout North America, on Aug. 7 promoted of Mark Lillis to Director of Investor Relations, a move intended by management to “reinforce their core […]
A Delaware Deal, Dissected
Consolidation and asset rationalization continue to change the landscape in the Permian Basin. Among the winners is Permian Resources (PR), which just bought nearly 30k net acres in the Delaware Basin from Occidental Petroleum (OXY) for $817.5 million or just over $27k per acre. Occidental was looking to sell assets in order to pay down […]
Pressure Pumping Under Pressure, OFS Could Soften, EWTC’s Event, and BBQ Done Right
Red-Headed Stepchild Pressure pumping seems like constant football, getting kicked around, winning or losing. First, things go flat. The observation that we know how to manage spiking growth and plummeting drops, but not flat times, was made by many to me. Pricing gradually erodes. Now account for the consolidations we have seen in E&P and the slowdown […]
Oil’s Well that Ends Well
Most shale wells, regardless of lateral length, produce furiously for the first several months, then start a downward trajectory that’s accompanied by rising levels of gas and sand. This combination means that lift methods must also evolve along the well’s life. To make that happen, three Permian Basin lift companies are advancing some existing technologies. […]
Court Rulings and Your Company: What to Watch For
The U.S. Supreme Court and many other courts make decisions that affect businesses and their employees. Writing about Human Resource Management (HRM) is challenging, given the constant legal changes. Of course, the Supreme Court cases affect all the states, but it is essential that we pay attention to what happens beyond the State of Texas […]
The Dallas Fed’s Outlook, Opinions in Madrid, a new Exchange, and a Good Steak Joint Gone
The journal entries below are excerpted from recent installments of James Wicklund’s “Things I Learned…” newsletter. Perspective. The Dallas Federal Reserve Bank issued their 2nd quarter review of the oil and gas industry. Production was little changed; costs rose faster for OFS and still rose but more slowly for E&P. OFS utilization improved but margins were […]
Water Y’all Talking About?
Closely watched litigation regarding the definition and ownership of water has percolated up to the Texas Supreme Court. Interestingly, Cactus Water Services, LLC v. COG Operating, LLC[i] has received amicus curiae briefs from associations across the state representing farmers, ranchers, land, and mineral owners requesting the Court to uphold one of the fundamental foundations of […]
The Permian’s Future is Electric
AI has been at the forefront of daily investment news the past year. Nvidia this, OpenAI that. More recently, the power needs of AI have been getting column space and breathy podcast time too. Globally, AI power demand needs have been putting pressure on utilities and governments to come up with more energy production. In […]
Winning or at Least Not Losing Unemployment Claims
I often harp about hiring the right person the first time. To start this month’s topic, here is a big surprise: there are several folks in the Permian Basin who are so skilled at using AI to write about themselves that I want to shout, Stop the BS! People looking for jobs are great at […]
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