Chesapeake Energy’s anticipated divestiture of as much as $5 billion in Permian Basin assets is not likely to soften the local market, observers say. The flurry of news reports detailing the financial stresses of Chesapeake Energy, cropping up in mid-May, brought with them the disclosure that the Oklahoma City-based firm is looking to find buyers […]
Opportunity Knocked
The word “Wolfberry” and the name “Jim Henry” will forever be linked in the petroleum history of the Permian Basin. The story’s been told numerous times, and in various ways, but if there is a good “short version” of the tale, it’s in this capsule remark from Henry’s friend Jim White: “He [Jim […]
Epicenter of a Revolution; Part 3 in a Series
No matter where Larry Richards has traveled in the world, He always runs into someone who has been to the Permian Basin. As president of Midland-based Hy-Bon Engineering, Inc., he was in Siberia last year overseeing one of his company’s projects. “I told the group I was from Midland and two men […]
Navigating the Hurdles
Amidst an atmosphere of positivism and enthusiasm, the 18th Annual Executive Oil Conference gave evidence that the Permian Basin, with its technologies and leadership, is poised to enter what could be its greatest chapter. The all-day sessions, which included a number of speakers as well as two panel discussions by industry experts, convened April 3 […]
Burmass Tools of the Trade Exposition Recap
The Burmass Exposition is in the books, and booking business for an even-bigger 2013. For a fast-moving day-and-a-half, the 2nd Annual Burmass Tools of the Trade Exposition turned Midland’s Horseshoe Arena into a one-stop shopping and networking experience for anyone needing oilfield goods, services, or business support. Some 50 exhibitors—marking a hefty increase in […]
PCT’s Jarrett Vick
When asked what his crystal ball sees for the future of the oil and gas industry in the Permian Basin, Jarrett Vick laughed and replied, “I have lived in West Texas long enough to know better than to buy a crystal ball. In the time I have been in the business, I have seen oil […]
Safety: Everyone’s Number One Priority
The oil and gas industry is similar to the National Football League these days. While the primary focus of each is being productive—whether it is drilling successful wells or scoring touchdowns—much of the emphasis seems to be on safety. The oil patch is still a dangerous place to work. According to statistics from this region, […]
From the World to the Permian: Part 2 in a Series
In oil and gas fields around the world, there are products in use that wereconceived and constructed in the Permian Basin. And technologies in use that were perfected here as well. The caller said he was from Israel and needed replacement parts for seals manufactured by Westech Seal, Inc. “How did our parts get over […]
From the Permian Basin to the World
Charlie McCoy couldn’t believe his eyes. Gas was flowing from a well into the sand and lying on the ground in the middle of it were dead quail. The Gulf employee accompanying McCoy said the well had a problem producing, that gas locked the downhole pump. “I watched that pumping unit run and thought, ‘How […]
All About Water
Last fall, Texas Railroad Commissioner and former Midland resident David Porter appointed an Eagle Ford Task Force to discuss water quantity and usage as it relates to oil and gas production in the burgeoning Eagle Ford Shale in South Texas. It is a critical issue facing all major producing basins in North America, including the […]