Railroad Commission of Texas canceled its meeting scheduled Tuesday, March 31, because of the coronavirus outbreak as the commission receives calls to limit crude production. The commission has the authority to determine how much oil a lease can produce, according to Houston Chronicle, but it hasn’t used that power since 1973. The Chronicle said, “With […]
Permian Basin gains in rig count for 2020 erased in one week
The gains in rig count in 11 weeks of 2020 in Permian Basin were erased in one week in Baker Hughes’ report of March 13. The Houston-based oilfield services firm said 13 rigs were idled in the past week to bring the total oil and gas drilling rigs from 418 down to 405 – the […]
Crude oil, natural gas operators reduce spending in Permian Basin
More operators are reacting to commodity price downturn and industry current conditions by reducing 2020 capital spending in Permian Basin. They include: Apache reduced its 2020 capital budget to about $1.1 billion – down from about $1.75 billion – and will idle all its rigs in Permian Basin and reduce drilling elsewhere. “We are significantly […]
Yergin: “Problem of oil price war in middle of constricting market”
Historian Daniel Yergin, vice chairman of research firm IHS Markit, said last week the combination of an oil price war led by Saudi Arabia and Russia and a coronavirus pandemic is unlike anything in the history of the oil industry. Yergin told reporters March 12 in Washington, D.C., “There have been many cases of an […]
Permian Basin adds rigs for fifth straight week
Permian Basin, Texas and New Mexico continue to add oil and gas drilling rigs, according to weekly report of March 13 from Baker Hughes. Permian Basin added 3 rigs for a new total of 418 (464 a year ago), Texas added 4 rigs for a total of 408 (501 a year ago), and New Mexico […]
Milestone waste disposal provider opens Permian Basin office
Houston-based Milestone Environmental Services opened an office in Midland to support the company’s growing presence in the Permian Basin. Milestone is a 25-year-old oilfield waste disposal services provider with eight locations in Permian, Eagle Ford and Haynesville. Milestone said March 2 the new facility provides workspace for local sales, dispatch, day-to-day operations, engineering, health and […]
Situational Awareness
Greetings and salutations! Welcome back to this month’s discussion on Safety in the Permian Basin! Let’s get right to it. As you are keenly aware, the global and stateside political climate is strained. (That’s like calling Moby Dick a guppy.) Tension in the Middle East is also high. American society is divided and in a […]
A Night of Memories
MIDLAND, TEXAS—This year’s year’s Top Hand Award Banquet honoring Dick Saulsbury of Saulsbury Industries fetched hundreds of PBPA members and other individuals representative of Basin energy interests to the Midland Petroleum Club on Jan. 16 to celebrate the career of an extraordinary man. Saulsbury himself took the podium at one point during the proceedings and […]
U.S. status as net petroleum exporter “at risk” as majors trim budgets
The U.S. status as a net petroleum exporter is at risk, Bloomberg said this week, as plunging oil prices threaten domestic production. U.S. recently began exporting more petroleum that it imports because of “record shale production in fields such as the Permian Basin.” Bloomberg added, “Now, amid the worst price rout in nearly three decades, […]
Centennial reduces operated rigs in Reeves County to three
Denver-based Centennial Resource Development said Feb. 24 it is reducing operated rigs in Reeves County to 3 beginning in 2020Q2 with a focus on upper Wolfcamp A and third Bone Spring sand zone. Another rig will be allocated to Lea County, N.M. Centennial is reducing its 2020 capital budget 28 percent compared to 2019. The […]
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