Irving-based Pioneer Natural Resources said last month in its quarterly report that it plans to operate an average of 18-to-20 horizontal drilling rigs in Permian Basin during 2021. The 2021 program is expected to place 385 to 415 wells on production, primarily in Midland Basin. Pioneer said its 2021 budget for drilling, completions and facilities […]

U.S. Federal Reserve Bank of Dallas said March 4 that because of two market conditions – slow recovery from the global pandemic and federal restrictions on new drilling – Permian Basin will produce between 230,000 and 490,000 fewer barrels per day by 2025 than if drilling continued at its current pace. The report said, “Production […]

Port of Corpus Christi, dependent on production from Permian Basin and Eagle Ford Shale, broke volume records at yearend 2020 with 55 percent of market share of U.S. crude exports, but S&P Global Platts said its exports are expected to decline in 2021 as rival ports rebound and global demand remains relatively weak. Corpus Christi […]

Texas Petro Index from Texas Alliance of Energy Producers declined for the 23rd straight month in January 2021 to 131.5 from 134.3 the previous month and 191.9 a year ago in January 2020. The index – developed by petroleum economist Karr Ingham – is a measure of the state’s oil and gas industry based on […]

Santa Fe New Mexican reported this week that Ryan Flynn, president and CEO of the New Mexico Oil and Gas Association, will resign at the end of the state’s legislative session Saturday after five years. The association of 1,000 members works with elected officials, industry experts and the public to advocate for responsible oil and […]

Counts of active oil and gas drilling rigs increased for the seventh straight week in Permian Basin and ninth straight week in Texas, according to the March 12 report from Baker Hughes. Permian Basin has 212 rigs (211 previous week), and Texas has 203 (202 previous week). Also, there are 60 rigs in New Mexico […]

Reuters reported last week that Gov. Michelle Lujan Grisham, first-term Democrat from New Mexico, will seek a waiver for her state from the Biden administration’s pause on new oil and gas leasing on federal lands. Grisham told the Greater Albuquerque Chamber of Commerce March 10 that she was “clearly concerned” about the policy. Reuters said […]

Biden administration said Tuesday it will issue an interim report by early summer on its suspension of oil and gas sales from federal lands. The ban on lease sales from the nation’s publicly-owned oil and gas reserves to address climate change fulfills a campaign pledge of newly-elected president Joe Biden. “The federal oil and gas […]

In its quarterly report, Houston-based Occidental Petroleum said last month it plans to allocate $2.9 billion for its capital budget for 2021 to sustain its oil and gas production at 2020Q4 levels through the end of this year. Oil and gas production is expected to decline to 1.14 million barrels (53 percent oil) per day […]

Climate change had been a subject at CERAWeek for years, but at last week’s virtual conference energy transition dominated many of the sessions of the annual event by IHS Markit. The 2021 event attracted a record 19,000 delegates with a theme of “The New Map: Energy, Environment and Charting the Future” recognizing the industry’s acceleration […]