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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.

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Concho to average 8 rigs for remainder of 2020; Kermit sand plant idled

May 7, 2020 by PBOG

Midland-based Concho Resources said last week it is again reducing capital spending for 2020 to $1.6 billion (40 percent below original budget) and complete about 110 to 130 gross operated wells. Concho said April 30 it expects to average about 8 rigs for the remainder of the year. First quarter oil production totaled 209,000 b/d […]

Filed Under: Business & Analysis, PBOG Newsletter, The Financial Picture Tagged With: drilling rigs, Oil and Gas, permian basin

Marathon Petroleum idles refinery in Gallup, N.M.

April 24, 2020 by PBOG

Findlay, Ohio-based Marathon Petroleum said it idled its refinery in Gallup, N.M., April 15. Bloomberg said it’s the first U.S. facility to close because of the coronavirus pandemic. Bloomberg added, “It’s not likely to be the last.” Jamal Kheiry of Marathon said the refinery will maintain regular staffing levels while it is down and will […]

Filed Under: PBOG Newsletter, Rig Count Reports Tagged With: drilling rigs, Oil and Gas, permian basin, production

Spudding In

February 1, 2019 by PBOG

Recollections of the old “Fort Worth Spudder” and other early-day portable drilling machines. This photo shows what appears to be a stripped-down framework of an old Fort Worth Spudder. See other photos for comparison. by Bobby Weaver Probably the most recognizable imagery related to the oil field is a towering derrick. That was especially true […]

Filed Under: Featured Article, Industry Analysis, Well Service Tagged With: Derricks, drilling rigs, Fort Worth Spudder, Midland, Oil Field, pecos county, Permian Basin Petroleum Museum, superstructures, Texas, Yates field

Spudding In

December 1, 2018 by PBOG

Recollections of the old “Fort Worth Spudder” and other early-day portable drilling machines. by Bobby Weaver Probably the most recognizable imagery related to the oil field is a towering derrick. That was especially true in the early days of the industry, when it was not uncommon to see a veritable forest of those derricks clustered […]

Filed Under: Drilling Deeper Tagged With: Drilling Machines, drilling rigs, Fort Worth Spudder, oil and gas industry, Oil Derrick, portable drilling, Spudder, Towering Derrick

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