Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

Solaris expands produced water management agreement with Concho

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Houston-based Solaris Water Midstream said July 29 it reached agreement with Concho Resources to expand their joint venture for long-term produced water management. Their agreement previously covered Concho’s acreage in Eddy County, N.M., and it was expanded to include Lea County, N.M. Solaris now manages Concho’s produced water gathering, transporation, disposal and recycling for 2.3 […]

Where Will Crude Prices Go From Here?

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Two competing narratives dominate the talk today where crude oil prospects are concerned. There is the break-your-spirits pessimism parroted by the Covid-crisis crowd, beating their drumbeat of disaster. For them, the lockdowns ought be locked in a year or more at a crack. Then there is the bullishness of the glass-half-full crowd, finding positivity in […]

Industry leaders set goal to lower emissions to address climate change

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The CEOs of 12 leading energy companies have agreed to lower emissions of the companies’ crude oil and natural gas production to address climate change. The international consortium, Oil and Gas Climate Initiative, includes CEOs of BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Saudi Aramco, Shell and Total. OGCI, established in 2014, said […]

Rystad Energy: Permian leads increased hydraulic fracturing activity

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Oslo-based Rystad Energy said July 23 its analysis shows that new hydraulic fracturing operations in the U.S., which fell to a low of 325 wells in June during the coronavirus pandemic, are expected to return to above 400 in July. “Recovery will be especially evident in the Permian Basin,” Rystad said, “where activity has nearly […]

Pilot LNG files permits for Galveston LNG Bunker Port

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Houston-based Pilot LNG said July 16 it has filed regulatory applications for Galveston LNG Bunker Port, the region’s first dedicated LNG bunker terminal. U.S. Army Corps of Engineers is the lead permitting agency. Pilot CEO Jonathan Cook said the port on Pelican Island “will provide clean-burning LNG to one of the U.S.’s largest port complexes.” […]

Midland’s Endeavor Energy files first permits since June 29

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Midland-based Endeavor Energy Resources filed its first drilling permits last week since June 29 with Railroad Commission of Texas. Houston Chronicle said Endeavor filed 11 permits for horizontal wells on two leases in Midland County targeting Spraberry to depths of 10,290 to 11,000 feet. Endeavor, which ranked fifth in Texas last year for permits, had […]

Chevron acquires Noble Energy, including 92,000 acres in Permian Basin

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San Ramon, Calif.-based Chevron increased its presence in Permian Basin and Denver-Julesburg Basin in Colorado with its acquisition of Houston-based Noble Energy. Chevron said July 20 the all-stock transaction is valued at $5 billion ($10.38 per share). Total enterprise value, including debt, is $13 billion. It will increase Chevron’s proved reserves by about 18 percent […]

Texas Petro Index falls for 15th straight month to 163.5 in May

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Falling rig count combined with steep declines in drilling permits, industry employment and crude oil production pushed the Texas Petro Index down again in May to 163.5 – down 22.5 percent from 210.7 of a year ago May 2019. It was the 15th consecutive month of decline for the index developed by petroleum economist Karr […]

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