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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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U.S. status as net petroleum exporter “at risk” as majors trim budgets

March 12, 2020 by PBOG

The U.S. status as a net petroleum exporter is at risk, Bloomberg said this week, as plunging oil prices threaten domestic production. U.S. recently began exporting more petroleum that it imports because of “record shale production in fields such as the Permian Basin.” Bloomberg added, “Now, amid the worst price rout in nearly three decades, […]

Filed Under: Industry Analysis, PBOG Newsletter, The Financial Picture

Centennial reduces operated rigs in Reeves County to three

March 12, 2020 by PBOG

Denver-based Centennial Resource Development said Feb. 24 it is reducing operated rigs in Reeves County to 3 beginning in 2020Q2 with a focus on upper Wolfcamp A and third Bone Spring sand zone. Another rig will be allocated to Lea County, N.M. Centennial is reducing its 2020 capital budget 28 percent compared to 2019. The […]

Filed Under: Industry Analysis, PBOG Newsletter, The Financial Picture

Permian Basin adds rigs for fourth straight week to reach 415

March 12, 2020 by PBOG

Permian Basin, Texas, New Mexico and U.S. each added rigs in the past week, according to the weekly report of active oil and gas drilling rigs for March 6 from Baker Hughes. Permian added 4 rigs for a new total of 415 (411 week ago, 465 year ago, 405 to start 2020), and Texas added […]

Filed Under: Industry Analysis, PBOG Newsletter, The Financial Picture

O&G’s X Factor

March 2, 2020 by PBOG

Never spend your money before you have it. —Thomas Jefferson What some might consider a bad habit—waiting 60-90 days to pay invoices—has birthed a business sector whose purpose is to bridge that gap by advancing money on those unpaid debts. Known as factoring or accounts receivable (AR) financing, this service allows companies—usually service providers—to stay […]

Filed Under: Featured Article, The Financial Picture Tagged With: featured article, Financal, Oil and Gas, permian basin

Private Equity’s Pros and Cons

December 9, 2019 by PBOG

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 […]

Filed Under: Business & Analysis, Featured Article, The Financial Picture Tagged With: Oil and Gas, permian basin

Lease Prices, Demystified

September 16, 2019 by PBOG

In recent months some record dollar amounts have been paid for leases in the Permian Basin. In 2018 a Santa Fe firm that places bids for anonymous investors bid more than $95,000 per acre for a tract of U.S. government land on the New Mexico side of the Basin. That number was a record high […]

Filed Under: Featured Article, Industry Analysis, The Financial Picture Tagged With: Drilling, Leasing, Oil and Gas, permian basin

Future Oil Price Road Map: See For Yourself

January 17, 2019 by Bailey LeRoux

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 […]

Filed Under: Featured Article, The Financial Picture

WTI OIL $67/B IN 2019

January 17, 2019 by Bailey LeRoux

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 […]

Filed Under: Featured Article, The Financial Picture

The State of Play

August 12, 2016 by PBOG

When the time comes to ramp back up, which Texas shale formations stand ready for recovery? By J. Chase Beakley   The energy industry has long been the beating heart of the Texas economy, and although the Lone Star State has diversified significantly of late, so many Texans are still entwined in oil and gas. […]

Filed Under: Featured Article, The Financial Picture, Trade Talk Tagged With: Feature, featured, State of the industry

The Shifting Dynamics of Cyber Security

October 5, 2015 by PBOG

By Shanti Terry Editor’s Note: We share the following as our “Part 2” coverage on the topic of Cyber Security, continuing the conversation that was begun in the September issue, in the article titled “Navigating the Cyber Security World.”  Although gaining more awareness and fully understanding the questions around cyber attacks is vitally important, the […]

Filed Under: Environmental, Safety and Training, Featured Article, Techonology, The Financial Picture Tagged With: cyber security, Feature, featured

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