With ESG becoming the new EBITDA in the eyes of stockholders and investors, environmental companies—as the “E” in ESG—are finding more interest in their services. That’s helping them somewhat in weathering what is becoming the “Year of the Black Swan,” 2020. Others are combining that with creative ways to leverage accumulated data to improve services […]
Opinion: Basin O&G Weathers Opposing Sentiments
Was there ever a more schizophrenic year for oil and gas? The tumults of 2020 have kept markets in disarray and left analysts and observers divided. Opposing forces keep tugging at the industry, hindering any straight-line improvement. On one side, there is the Environmental, Social, and Governance (ESG) movement, with its emphasis on what it […]
Safety: Let’s Have a Meeting!
Greetings and salutations! It is my sincere hope that by the time this edition hits the press that the price of oil has crept back up and everyone has started ramping back up! Between the coronavirus, the quarantine, riots, and the Saudis and Russians seeing who can drop the prices the fastest, it has been […]
Solaris expands produced water management agreement with Concho
Houston-based Solaris Water Midstream said July 29 it reached agreement with Concho Resources to expand their joint venture for long-term produced water management. Their agreement previously covered Concho’s acreage in Eddy County, N.M., and it was expanded to include Lea County, N.M. Solaris now manages Concho’s produced water gathering, transporation, disposal and recycling for 2.3 […]
Industry leaders set goal to lower emissions to address climate change
The CEOs of 12 leading energy companies have agreed to lower emissions of the companies’ crude oil and natural gas production to address climate change. The international consortium, Oil and Gas Climate Initiative, includes CEOs of BP, Chevron, CNPC, Eni, Equinor, ExxonMobil, Occidental, Petrobras, Repsol, Saudi Aramco, Shell and Total. OGCI, established in 2014, said […]
Rystad Energy: Permian leads increased hydraulic fracturing activity
Oslo-based Rystad Energy said July 23 its analysis shows that new hydraulic fracturing operations in the U.S., which fell to a low of 325 wells in June during the coronavirus pandemic, are expected to return to above 400 in July. “Recovery will be especially evident in the Permian Basin,” Rystad said, “where activity has nearly […]
Earthstone Energy returns curtailed production, drills in Upton County
The Woodlands-based Earthstone Energy said it is returning to full production all of its shut-in and curtailed operated wells. Earthstone said July 16 its wells “are currently producing at nearly 100 percent of capacity.” Earthstone said total net production was curtailed by about 60 percent in May, when the company concluded its 2020 drilling program […]
Diamondback, Noble, others return curtailed oil production in July
Midland-based Diamondback Energy said Tuesday it lifted its reduction in May of about 9,000 barrels of oil production per day and resumed pumping from its shut-in wells in June. Travis Stice, CEO, said, “With oil prices having recovered significantly since the decision to curtail production was made in April, Diamondback returned this production through the […]
RSEG forecasts decline in flaring in Permian Basin in July
RS Energy Group forecasts flaring in Permian Basin as measured by satellites will decline in July to about 260,000 MMcfd (first time under 300 MMcfd since February 2018). Flaring increased from May to June by about 30 percent (by 110 MMcfd). “However, volumes appear to drop this month,” RSEG said Monday. “The increase from May […]
Midland’s Summit Petroleum files 9 permits in Upton County
Midland-based Summit Petroleum led companies filing for oil and gas drilling permits in Texas during the week of July 1-7. Houston Chronicle said Summit filed 9 drilling permits with Railroad Commission of Texas for horizontal wells targeting Spraberry in Upton County to depths of 9,400 to 10,100 feet. Also in west Texas, Tulsa-based WPX Energy […]
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