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 […]
O&G’s X Factor
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 […]
Private Equity’s Pros and Cons
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 […]
Lease Prices, Demystified
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 […]
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 […]
The State of Play
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. […]
The Shifting Dynamics of Cyber Security
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 […]
After the Black Gold Rush
Some layoffs, efficiency improvements, and price decreases keep area dirt movers from being buried alive. By Paul Wiseman “This slowdown has been different [from the 2009 downturn] because it has affected a lot more people this time,” said Nick Tomlin, vice president of Big D Companies. With approximately 280 employees, Big D is one of […]
Enter the FRF for SMEs
You’ve heard of GAAP, “cash basis,” and other financial reporting frameworks. Now comes the new FRF for SME, which is designed by a national CPA organization to specially serve small and medium sized businesses. The American Institute of Certified Public Accountants (AICPA) issued the Financial Reporting Framework for Small-and Medium-Sized Entities (FRF for SMEs) to […]
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