by Dr. M. Ray Perryman For the second consecutive year, the Nobel Memorial Prize in Economics has been awarded to three Americans. For 2022, the recipients are Ben S. Bernanke (former Federal Reserve Chairman now with The Brookings Institution), Douglas W. Diamond (University of Chicago), and Philip H. Dybvig (Washington University in St. Louis) “for […]
E&P Reaches Milestone
Apache Corporation, a subsidiary of APA Corporation, announced Oct. 24 the donation of more than 245,000 trees to 40 nonprofit partner organizations through the annual Apache Corporation Tree Grant Program. Since 2005, more than five million trees have been granted to more than 900 U.S. nonprofit charitable partners and government agencies. Plantings from this year’s grants […]
Turning Around That Turnaround
by Tracy Gray Thanks to the pandemic, delays in turnarounds, and restrictions on the numbers of contractors on rigs, pipelines and production sites forced companies to delay work that had been planned for years. As we continue to emerge from the restrictions, industry experts predict a bottleneck of turnaround projects into 2023 as companies work to […]
Electric Fracs Get “Pumped” Up
Houston-based GD Energy Products (GDEP), a solutions provider for the drilling, well servicing, and frac pumps market, has partnered with U.S. Well Services to supply 3,000-horsepower pumps for their Nyx Clean Fleet. Each custom-designed pump is powered by an electric drive motor to create an environmentally sustainable frac unit. Tony McLain, vice president of sales, […]
Undrilled Locations Number 125,000+
Enverus Intelligence Research (EIR), a subsidiary of Enverus, an energy-dedicated SaaS platform, released on Oct. 25 a basin-by-basin look at North American drilling inventory and an analysis of how many well locations remain at various prices. “We believe the fear around near-term shale drilling inventory exhaustion is largely overblown,” said Dane Gregoris, report author and […]
Scholarship Program to Give Back to Industries
GPS Insight, a leading provider of SaaS-based fleet and field service management software solutions, announced Oct. 4 the launch of the GPS Insight “You are the Reason” Skilled Trades Scholarship Program, awarding two scholarships for $10,000 each to students planning to pursue full-time skilled trades study at a college or accredited vocational-technical school in the 2023-2024 academic year. The […]
Companies Team to Deliver Solutions
Schlumberger and Cognite announced Sept. 14 a partnership to integrate Schlumberger’s Enterprise Data Solution for subsurface with Cognite Data Fusion, Cognite’s leading open industrial DataOps platform. Through this partnership, customers can integrate data from reservoirs, wells, and facilities in a single, open platform, and leverage embedded AI and advanced analytics tools to optimize production, reduce costs, and […]
Layoffs Continue Amid Jobs Slide
Companies across sectors, including technology, retail, and banking and payments, continued to announce layoffs, and a sizable decline in active jobs (number of jobs available for application) is also apparent in August 2022, reveals GlobalData, a data and analytics company. An analysis of GlobalData’s Jobs Analytics database has identified a seven index-points decrease in active jobs in August 2022 due to […]
Is WTI Crude Recession Proof?
By Ryan Dusek How quickly things have changed. Just a year ago, the Federal Open Market Committee (FOMC) gave a picturesque view of the economy. Any inflation was transitory and would likely fall to 2 percent in 2022. The federal funds rate would remain lower longer with little chance of a recession. At that same time, […]
Hempstead Facility Adds Capabilities
Logan Industries, a hydraulic repair, manufacturing, and rental company, has expanded its machining capabilities at its Hempstead, Texas, facility, adding a CNC horizontal boring mill and a CNC vertical turning center. The state-of-the-art facility, which encompasses more than 50,000 square feet of covered workspace, enables Logan to offer world-class machine design, manufacturing, and service. Both machines […]
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