Houston-based APA Corp. recently said its upstream capital investment in fourth quarter is about $500 million, including increased activity in Permian Basin. APA is adding a sixth drilling rig in 4Q in Permian. Production of 412,000 boed in 3Q reflects quarterly growth in each operating area, including 10 percent in Permian Basin. “Good execution and […]
To Go with the Flow
Since the lifting of oil export restrictions in 2015, the United States has become a major player in international trade in oil as well as in natural gas. The first half of 2023 saw U.S. exports of both commodities surging to new heights. In fact, over that period the United States surpassed Qatar and Australia […]
Midland’s ProPetro acquires Par Five Energy Services to add Delaware Basin
Midland-based ProPetro Holding said recently it acquired assets and business operations of Artesia, N.M.-based Par Five Energy Services. Par Five specializes in cementing services in Delaware Basin, and its business complements ProPetro’s existing cementing business in Midland Basin. Sam Sledge, CEO of ProPetro, said Dec. 4, “The transaction is … highly complementary to our current […]
Calling on Leadership: Time for a Change in 2024
To change the message of the Permian, we need to start by cleaning our own house. That comes by reviewing one employee at a time. Some should stay, and some should go. Keep the positive, hardworking, and loyal ones. Keep the ones who give more than 80 percent and show up on time but are […]
Endeavoring to Make a Difference
We live in interesting times. What the world has taught us since Covid is that nothing that one might expect to happen, will happen. Rather, what happens is something altogether unexpected. WTI was supposed to climb above $100 before year’s end. As this sentence is being formed, it stands at $75. The price of crude […]
First Generation Americans in the Workforce
Midland College had an event in September titled The Latina Women’s Conference. I attended and listened to a panel of ten women discussing how they could get bachelor’s and master’s degrees, get great jobs, and start their businesses against what many would consider difficult obstacles. Those obstacles included growing up without enough to eat, […]
The New Peak Discussion
It was Marion King Hubbert, a U.S. geoscientist, who first proposed the theory that oil production would reach a “peak,” based on available reserves, after which it would fall precipitously. At a 1956 American Petroleum Institute meeting he presented a paper showing a bell curve of U.S. oil production, with the chart displaying an inflection […]
Artificial Intelligence
Covey said famously, Begin with the end in mind. Let’s talk a bit about artificial intelligence (AI). What is the good, the bad, and the ugly? The good is that it improves individuals’ writing abilities. Or does it? I can tell, in a second, something that AI has written. Refrain from falling for a glossy […]
Reality Bites: Lenders Roll with the Changes
By Paul Wiseman In the early shale boom days of 2010 and off-and-on through about 2018, getting financing was relatively easy. Private equity (PE) funds and banks alike saw the drilling and production boom as an opportunity to grow their investments. Funds looked to buy into both operators and oilfield service companies, bankroll a […]
Quiet Hiring
In resuming the topic of recruitment from last month, I want to mention the latest buzzword: quiet hiring. Remember quiet quitting and quiet firing? I would be a millionaire if I could be clever enough to come up with these terms. I want to give credit to Gartner’s “future of work” team, who appear frequently […]
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