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PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Chevron president says Permian not susceptible to “boom and bust” cycle

October 31, 2019 by PBOG

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 come.”  The forum was sponsored by Texas Oil and Gas Association.

Don Templin, CFO of Marathon Petroleum, said investments in export infrastructure will be important to keep the shale boom moving forward.  “Texas plays a really important role,” he told Bloomberg, “but if you don’t have export capabilities all the product produced in the Permian gets bottlenecked somewhere, and at some point in time that will dampen the production.”

Filed Under: PBOG Newsletter

Comments

  1. Lawrence Rayburn says

    November 1, 2019 at 8:38 am

    Chevron and other major players need to support National Security by making production and refining
    assets electrically self sustaining, running off fuel gas from their wells and putting all automation controls
    in a closed sequestered system that cannot be hacked backed by manual controls to foil EMP attack and
    sabotage.
    Then the E&P companies should demand transportation vehicles be EMP proofed and manual controls
    reinstated on engines so the transportation industry cannot be interrupted by EMP attack….so refined fuels
    can still reach the People of the USA in an emergency.
    Further development of the Permian, Delaware, and Orogrande basins of west Texas is advised with an
    eye on maintaining national security.
    The old oil and gas refineries here in west Texas used to produce their own electricity, both AC and DC
    with generators run on inlet fuel gas….making the refineries national electrical grid independent. It was
    good strategy in the Cold War that should be implemented again nationwide.

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