Bloomberg reported Monday that Occidental Petroleum plans to sell its Midland campus, Oxy Permian Plaza, and relocate employees to a nearby campus owned by Anadarko Petroleum, the oil producer it purchased earlier this year for $37 billion. Melissa Schoeb of Oxy told Bloomberg, “We have told our employees in Midland that they will be moving […]

The count of active oil and gas drilling rigs in U.S. declined to the lowest level in 31 months in Baker Hughes’ latest report. As of Nov. 1, there were 822 rigs in U.S. (830 a week ago, 1,067 a year ago), the lowest total since March 2017. The Houston-based oilfield service firm said there […]

Preliminary analysis by Rystad Energy, which has been monitoring levels of natural gas flaring in Permian Basin since 2017, shows that flaring and venting in Permian Basin of Texas and New Mexico has reached an all-time high. Rystad said flaring and venting reached an average of 750 MMcfd in 2019Q3. Previous quarterly estimates suggested that […]

California major Chevron filed for multiple drilling permits in Culberson and Midland counties in Permian Basin with Railroad Commission of Texas. Houston Chronicle said this week Chevron filed permits to develop 17 horizontal wells in Midland County in the Parks field on its GBG Danger Zone lease to 10,000 feet and another 4 horizontal wells […]

Houston-based Lodestar Energy Group said recently that a 227-acre site near El Maton in Matagorda County has been chosen as location for a new rail terminal.  The South Texas Rail Terminal will handle rail traffic from nearby fractionation and crude oil and natural gas storage facilities.  Officials told commissioners of Matagorda County that construction on […]

New research by Deloitte, reported by Oil & Gas Journal, says shale operators in Permian Basin could generate capital efficiency gains of 23 percent if they fully optimized well designs.  Combined with 19 percent gains possible in Eagle Ford in south Texas, Deloitte said that would represent a $24 billion capex savings opportunity for U.S. […]

Declining counts of active oil and gas drilling rigs returned to Permian Basin, Texas, New Mexico and U.S. as of Oct. 25, according to Baker Hughes.  The Houston-based oilfield services company said there are 417 rigs in Permian (422 previous week, 489 previous year), 418 rigs in Texas (423 previous week, 537 previous year), 110 […]

The president of Chevron-North America said Permian Basin won’t be susceptible to historic boom-and-bust cycles that have for decades occurred in the oil and gas industry.  Speaking Tuesday at the Lone Star Energy Forum in Austin, Steve Green said, “We see a long, healthy pace of activity in the Permian and Texas for decades to […]