A survey by Federal Reserve Bank of Dallas shows that the cost of profitably drilling a shale oil well in the U.S. has fallen to $50 per barrel, “likely ensuring the growth of the onshore shale industry for years to come.” The Houston Chronicle reported, “Led by surging production and efficiency gains in west Texas’ […]
Study shows economic benefits for New Mexico from ExxonMobil operations
ExxonMobil said May 17 a study by Impact Data Source estimates the company’s development of Permian Basin resources in New Mexico will generate about $64 billion in net economic benefits for the state and local communities over the next 40 years. The benefits include thousands of new jobs and increased funding for education, health and […]
Rig count continues decline in Permian Basin and U.S.
The counts of drilling rigs declined for the fifth straight week in Permian Basin and sixth straight week in U.S. as of May 17, according to Baker Hughes. During this decline, the Permian Basin count fell from 464 to 454, and the U.S. count dropped from 1,025 to 987. The Texas count fell in the […]
UPS to use renewable natural gas to power delivery trucks in Texas
UPS said Wednesday it is buying the equivalent of 170 million gallons of renewable natural gas from California-based natural gas provider Clean Energy Fuel Corp. in the next seven years to fuel its delivery trucks in Texas and 12 other states. UPS will have fueling stations in El Paso, Fort Worth and San Antonio. UPS […]
Howard Energy, WPX Energy complete project in Delaware Basin
San Antonio-based Howard Energy Partners and Tulsa-based WPX Energy said May 16 they have completed a majority of their previously-announced crude oil and natural gas gathering and processing infrastructure in Delaware Basin. After startup of the first 200-MMcfd plant last year, Howard recently commissioned and operates this second 200-MMcfd plant as part of its cryogenic […]
Occidental, Canadian company to develop direct air capture plant
Oxy Low Carbon Ventures, a subsidiary of Occidental Petroleum, and Canadian clean energy company Carbon Engineering said Tuesday they will jointly proceed with engineering and design of the world’s largest direct air capture and sequestration facility to be located in the Permian Basin. The companies are developing a facility designed to capture 500 kilotonnes of […]
Spillover
Last month’s issue was called our “Water Issue” (see photo), so we can’t slap that label on this issue, or this coverage, anyway. We’ll just call this “Overflow.” It’s some additional insights we weren’t able to squeeze into the April issue. By Jesse Mullins Some isolated, maybe random, observations about H2O and the tidal […]
Mechanically Adept
By Paul Wiseman With more accurate computer modeling for drill sites connected to long lead times (6-12 months) for procurement of large equipment like gas compressors, long-term planning is both possible and necessary. That plus the emergence of gas lift compression as a preferred artificial lift solution has made compression services companies like CSI Compressco […]
Safe and Sure
By Paul Wiseman “We can dance if we want to… I can act like an imbecile” “Safety Dance,” Men Without Hats, 1982 Those two lines are not consecutive in the song, but for some reason they’re the only ones I remember. They’re pertinent to a story about safety expert Dusty Roach because he’s […]
To Turn Up the Pressure
The year 2019 began with the the frac industry under pressure as a whole, and pressure pumpers were no exception. A sudden oil price drop in December, coupled with downward pricing impetus from backlogged pipelines and year-end budget exhaustion led to a drop in completions—and a freefall in demand for fracturing crews and frac sand. […]
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