Texas Petro Index from petroleum economist Karr Ingham declined slightly for the second consecutive month in April to 212.1 after 213.2 in February and 212.4 in March. Ingham’s index, based on a comprehensive set of industry indicators, started with a base of 100.0 in January 1995. A year ago April 2018 the index was 197.4. […]
Texas leads drilling rig count decline for second straight week
Only one of the top 10 counties in Permian Basin added drilling rigs in the past week, according to Baker Hughes. As of June 14, leader Reeves County was down 1 in the past week to 64, Eddy, N.M., was down 1 to 54, Lea, N.M., was unchanged at 43, and Midland was down 1 […]
Callon Petroleum completes sale of noncore assets in Midland Basin
Natchez, Miss.-based Callon Petroleum said June 13 it closed on the previously announced sale of noncore assets in southern Midland Basin for $245 million to Sequitur Permian. Callon updated its full-year guidance from 39,500-41,500 boed to 38,000-39,500 boed after this sale and a previously announced acreage trade of producing properties in Midland County.
Kairos expands aerial scans to detect methane leaks to west Texas
Mountain View, Calif.-based Kairos Aerospace has completed aerial scans for fugitive methane emissions in the New Mexico portion of the Permian Basin and expanded into west Texas. Steve Deiker, CEO and co-founder, told the Midland Reporter Telegram earlier this month that his company is using LeakSurveyor methane imager attached to airplanes flying over the region […]
Christian succeeds Midland’s Craddick as RRC chairman
Wayne Christian has succeeded Midland’s Christi Craddick as chairman of the Railroad Commission of Texas. The commission announced the unanimous election of Christian Tuesday. A graduate of Midland High School and University of Texas, Craddick has served on the commission since 2012. Christian, graduate of S.F. Austin State University and former member of the Texas […]
Rig counts resume decline in Permian Basin, Texas, U.S.
Rig counts resumed their declines for the week that ended June 7 in Permian Basin, Texas and U.S., according to Baker Hughes. In the past week, Texas lost 7 rigs for a new total of 473 (538 a year ago), U.S. lost 9 rigs for a new total of 975 (1,062 a year ago), and […]
Danos secures contracts to support water transfer, build saltwater facilities
Danos, oilfield service provider based in Gray, La., said May 29 it has two new contracts to provide about 50 crew members for support of water transfer at treatment facilities in Midland and Orla for a Dallas-based land company and to construct two saltwater disposal facilities in Delaware Basin near Carlsbad, N.M., for a Texas-based […]
Rystad Energy says natural gas flaring in Permian Basin sets record
Flaring and venting of natural gas in Permian Basin reached an all-time high in 2019Q1, according to research by Rystad Energy. The firm said Permian gas flaring averaged 661 MMcfd in 2019Q1. Oil & Gas Journal said, “This widespread waste of a valuable commodity is the result of persistent infrastructure challenges, a lack of enough […]
Wood Mckenzie says Corpus Christi will become U.S. oil export leader
Global energy research firm Wood Mackenzie said the Port of Corpus Christi will surpass the Port of Houston as the nation’s top crude oil exporter within 10 years. Wood Mckenzie said major investments in shipping facilities and pipeline projects will route more than two million barrels of crude oil per day from Permian Basin to […]
Gulf Coast becomes net exporter of crude oil as imports decline
The U.S. Energy Information Administration said oil imports for the Gulf Coast reached their lowest level in more than 30 years in March as production from Permian Basin and other shale fields continues to rise. Imports averaged 1.8 million barrels a day in March – a decline of more than 70 percent since 2007. The […]
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