Updated 7/24/2015 News from the Permian Basin and West Texas: Rig count in Permian Basin increases for fourth straight week The oil and gas drilling rig count for the Permian Basin increased for the fourth consecutive week as of July 24, according to Houston-based oilfield services firm Baker Hughes, Inc. And the Texas […]
Solid Economic Indicators
A milestone: Texas’ oil production hits 2 million barrels a day. Production reports to the Texas Railroad Commission from oil operators across the state reached two million barrels a day in February. The production total, a level not seen in Texas since 1986, includes more than one million b/d from the Permian Basin. Preliminary numbers […]
News Reviews May 2014
Denver-based DCP Midstream will construct a 200 MMcf/d sour natural gas processing plant known as Zia II in Lea County in New Mexico with associated gathering system expansions to service producers in southeast New Mexico and West Texas. The project includes front-end treating for sour gas, two acid gas injection wells, a 50-mile, 20-inch high-pressure […]
News Reviews – April 2014
After successful open seasons, Medallion Pipeline said it will build a crude oil pipeline, Wolfcamp Connector, and its southward extension, the Reagan Gathering Extension, in West Texas. Irving-based Medallion expects to place both pipelines in service by the end of 2014. The combined gathering system will extend about 112 miles through the Midland Basin at […]
Doing a Land Office Business
The year 2014 has begun with a bang in the Permian Basin. San Antonio-based Lake Truck Lines opened an oilfield services facility in Odessa with another planned in Snyder as it expands into the Permian Basin. Doug Cain, president and CEO, told the Midland Reporter Telegram, “We will probably be going after the Cline Shale […]
Positively Positive
Whether we’re three years into the upswing or five or more–depending on where one fixes the starting point–it’s clear that reports from the field just keep saying the same thing: business is good. Dallas-based Pioneer Natural Resources recently announced record horizontal drilling results in West Texas. Scott D. Sheffield, chairman and CEO, said, “Our first […]
News Reviews: Infrastructure Keeps Catching Up
Ripples from the drilling boom keep extending outward. The second phase of construction on a crude oil rail loading facility in Wink, Texas, by Houston-based Genesis Energy is nearing completion on the Texas-New Mexico Railway, which connects to Union Pacific in Monahans. The facility, an origin terminal, will give the company the ability to load […]
News Reviews: November 2013
The Permian Basin has been producing for decades, Matthew DiLallo reported in The Motley Fool, but “it is really just getting started on the next phase of its booming growth.” He added, “While it [Permian Basin] has already produced more than 30 billion barrels of oil in its history, there is still a lot of […]
News Reviews: Gainers and Groundbreakers
Fall 2013 finds the Permian Basin acknowledging yet more peaks and possibilities. Two locations in New Mexico, including Otero Mesa, 12 million acres of wild grasslands in southern New Mexico primarily controlled by the Bureau of Land Management, are included on a list of 12 places in the U.S. deemed “too wild to drill” by […]
No Shortage of Activity
Mitchell gets tribute, coal gets crushed, Edward grows apace, Parsley breaks ground, and Range pays attention. George P. Mitchell, 94, the son of a Greek goatherd who was one of the most prominent independent oilmen in U.S. history, died July 26 in Galveston. He was instrumental in unlocking immense natural gas and petroleum resources with […]
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