by Paul Wiseman At the dawn of the digital oilfield age, many staffers worried about being rendered obsolete by the efficiencies inherent in automation. Since the upheaval of COVID-related workplace changes, employees have left the oil patch in droves. For many oil and gas operators, making the remaining workers more efficient by employing automation and […]
Report: EV adoption to displace 2.7 million b/d of liquid fuels by 2030
Calgary-based energy data firm Enverus said last week its adoption forecast for electric vehicles implies the displacement of 2.7 million barrels per day of liquid fuels in 2030 and 5.2 million b/d in 2035. Enverus’ updated EV outlook outlines the energy impacts of EV adoption. Carson Kearl of Enverus said, “EV market share growth in […]
New York Times: ‘Big Oil Gets Its Mojo Back’
A day after President Biden approved the Willow project in Alaska, ConocoPhillips’ $8 billion plan to extract 600 million barrels of oil from the largest remaining expanse of wilderness in the U.S., the New York Times reported under the headline “Big Oil Gets Its Mojo Back” that “confidence is high in the oil and gas […]
Diamondback ventures subsidiary Cottonmouth invests $20 million in Verde
Midland-based Diamondback Energy, through subsidiary Cottonmouth Ventures, is making a $20 million equity investment in Verde Clean Fuels, renewable energy company with technology that captures flared natural gas and converts it into gasoline. Verde Clean Fuels, business combination of CENAQ Energy and Bluescape Clean Fuels, developed and owns proprietary syngas-to-gasoline technology designed to produce renewable […]
Riley Exploration Permian forms JV for on-site power generation in Yoakum
Oklahoma City-based Riley Exploration Permian is forming a joint venture with Conduit Power, portfolio company of Grey Rock Investment Partners, to develop, own and operate on-site power generation using captured flared natural gas to power Riley’s operations in Yoakum County. The project will be completed in phases and ultimately include 20 megawatts of power. Phase […]
Select Energy to become Select Water Solutions after Permian acquisitions
Houston-based Select Energy Services, a leading provider of sustainable water and chemical solutions to the energy industry, said last month it is rebranding to Select Water Solutions after multiple water infrastructure acquisitions in Permian Basin, including water gathering, disposal, sourcing, storage and distribution assets. John Schmitz, chairman, president and CEO, said, “We have closed on […]
Ring Energy forecasts 48 percent production growth after Permian acquisition
The Woodlands-based Ring Energy said Thursday it expects 2023 production growth of 48 percent over 2022 after integration of Permian Basin assets acquired in August 2022 from Stronghold Energy. Ring forecasts 2023 sales volumes of 17,800 boed to 18,800 boed (68 percent oil) compared to 12,364 boed (77 percent oil) in 2022. The increase from […]
Siemens to provide compressors for Oxy’s DAC plant in Ector County
Global energy technology company Siemens Energy said last week its compressors will be used at Occidental Petroleum’s first large-scale direct air capture (DAC) plant in Ector County. The two compressor packages will enable the plant to capture up to 500,000 metric tons of CO2 per year when fully operational. Startup is expected in late 2024. […]
Report: ‘U.S. rig count on a downward trajectory this year’
Baker Hughes reported declines in drilling rig counts in Permian Basin for the second straight week and in U.S. for the fourth straight week. In the weekly report of March 10, there were 343 rigs in Permian (349 week ago, 316 year ago) and 746 rigs in U.S. (749 week ago, 663 year ago). Also, […]
Report: U.S. to become global LNG export leader this year
Global research firm Wood Mackenzie said recently it expects U.S. to become the world’s largest exporter of LNG in 2023 after ranking third in 2022. Giles Farrer of Wood Mackenzie said Feb. 22, “Record high prices and the need for energy security drove buyers … to seek long-term U.S. LNG deals in 2022 and created […]