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.

RTS starts construction on new Midland facility to double tubular inspection

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RTS launched another expansion project to add its second state-of-the-art tubular inspection facility. Groundbreaking ceremony was held June 1 at its flagship location in Midland by RTS, a provider of oilfield tubular and sucker rod inspection and maintenance services, asset management and related data analytics.  RTS said the expansion will double its capabilities in Midland […]

Production in Eddy, Lea counties accounts for 29 percent of Permian output

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U.S. Energy Information Administration said Thursday production from Eddy and Lea counties in southeast New Mexico accounted for 29 percent of crude oil production in Permian Basin in 2023Q1 – averaging 1.7 million barrels per day.  Permian, largest oil-producing basin in U.S., spans 66 counties in southeast New Mexico and west Texas. Permian crude production […]

Enverus reaffirms forecast of $100 oil by fourth quarter of 2023

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Calgary-based Enverus Intelligence Research last week reaffirmed its belief that Brent prices for oil will reach $100 per barrel by fourth quarter.  Enverus pointed to “all-time high global oil demand, insufficient North American supply growth and OPEC intervention as key drivers that will push Brent prices to $100 per barrel in 2023Q4.” Al Salazar, EIR […]

Riverbend Energy Group adds assets in Permian, Williston basins

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Houston-based Riverbend Energy Group said last month it made recent acquisitions in Permian and Williston basins to rebuild its traditional non-operated energy strategy following its exit in 2022.  Riverbend’s most recent acquisition announced June 19 was a “sizeable non-operated working interest in the core of the Williston Basin.”  The company said the acquisitions provide “a […]

Growth Projected for Texas, U.S.

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By Dr. Ray Perryman The most recent Perryman Economic Forecast for the United States and Texas calls for growth through 2027, though the path will likely be somewhat uneven. According to Dr. Ray Perryman, President and CEO of The Perryman Group, “The nation is facing significant headwinds. Although inflation is finally moderating, the inevitable fallout […]

Legislature Enters Second Special Session

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by Julie Anderson During a recent Permian Basin Petroleum Association (PBPA) luncheon, Association President Ben Shepperd referenced a reality that initially defined the 88th Texas Legislature: extra money on hand. “We started out with about a $33 billion surplus in the treasury,” Shepperd observed. “Roughly two-thirds of that was due to, plain and simple, oil […]

New Mexico Announces New OCD Director

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from the Permian Basin Petroleum Association Before the 2023 New Mexico Legislative Session began, PBPA learned that the New Mexico Oil Conservation Division (OCD) Director Adrienne Sandoval would be leaving the agency and taking a position with the U.S. Environmental Protection Agency’s Region 8 office. In May, however, OCD announced that acting director, and general […]

Saudi Arabia, U.S., Russia rank 1-2-3 in total global recoverable oil

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Saudi Arabia, U.S. and Russia continue to rank 1-2-3 in total global recoverable oil reserves, according to Oslo-based Rystad Energy’s latest research.  Rystad this week raised its estimate of total global recoverable oil to 1,624 billion barrels – an increase of 52 billion barrels compared to its estimate last year.  Oil & Gas Journal called […]

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