About 40 oil and gas companies filed 110 drilling permits with Railroad Commission of Texas in the first week of April, according to Houston Chronicle, the state’s lowest weekly total of the year. Almost 20 percent of the permits were for drilling in Midland County. Double Eagle Development of Fort Worth filed 10 permits for […]
Phillips 66 to defer Red Oak pipeline amid 2020 budget cuts
Operators in Permian Basin’s energy industry continue to announce reductions in capital budgets for 2020. They include: Phillips 66 said March 24 it will defer its Red Oak pipeline as part of reducing its 2020 capital budget by $700 million to $3.1 billion. With Plains All American Pipeline, Phillips 66 formed Red Oak Pipeline to […]
Old School Ways, New Era Creativity
“We’re just taking it day by day right now,” said Mesquite Oil Tools Owner/President Justin Pechacek. “A lot of our stuff is workovers and completions. We’re not so much chasing the drilling side. We’ve been able and fortunate enough to stay really busy on the disposal side.” Production increases based on previous drilling involves millions […]
Maker’s Marks
At places like ADS (Air Drilling Solutions) and Henry Pumps—manufacturing kinds of places—the race is to the swift and the battle is to the strong. If, that is, we think of “swift” as streamlined and “strong” as adaptable. By Paul Wiseman How does a Scottish Highlander end up in Midland, Texas, presiding over a company […]
Elevated Perspective
Steve Pruett and his well-placed partners have put together one of the biggest new E&P outfits to hit the Permian in several years. By Al Pickett, special contributor The most important factor in securing equity funding for a start-up energy company is people, according to Steve Pruett. “It is a marriage of people, experience, a […]