MIDLAND, TEXAS—This year’s year’s Top Hand Award Banquet honoring Dick Saulsbury of Saulsbury Industries fetched hundreds of PBPA members and other individuals representative of Basin energy interests to the Midland Petroleum Club on Jan. 16 to celebrate the career of an extraordinary man. Saulsbury himself took the podium at one point during the proceedings and […]
Filling the Potholes on the Road to Progress
Since the advent of the frac era, the idea of taking a leisurely drive in the country anywhere in the Permian Basin has dwindled to a speck in the rear view mirror. Some roads, particularly U.S. 285 between Pecos and Carlsbad, S.H. 302 through Winkler County, and I-20 pretty much anywhere along the Odessa-Midland corridor, […]
O&G’s X Factor
Never spend your money before you have it. —Thomas Jefferson What some might consider a bad habit—waiting 60-90 days to pay invoices—has birthed a business sector whose purpose is to bridge that gap by advancing money on those unpaid debts. Known as factoring or accounts receivable (AR) financing, this service allows companies—usually service providers—to stay […]
The Outlook for Land
As recently as 2018 a lease price of $95,000 per acre for a tract on the New Mexico side of the Permian Basin was setting records. Prices of $40,000 were not unheard of. How quickly things change! The dawn of 2019 saw the end of investors’ spend-and-grow mantra, and the birth of make-money-now thinking. Leasing, […]
An Industry Looks Ahead
In this month’s roundup of news and views, we share some reports that take an eye to the future. These are the full versions of the “Drilling Deeper” news items that appeared as abbreviated versions in the print edition of PB Oil and Gas Magazine’s March 2020 issue. Fewer Recessions Due to the Shale […]
Crossing the Line
We convened down at the Rig #8 this past Friday for our weekly alcohol-fueled sojourn down memory lane. This time the subject came up concerning some of the more wealthy members of our little oil patch fraternity and how they got that way. There were the usual yarns about old so-and-so and how he drilled […]
When Love Takes Over
Love is in the air. Happy Valentine’s Day. Have you noticed that love is in the air and occasionally at work? So, what does your employee handbook say about office romances? If you don’t have one on employee dating, I recommend you develop one and have every employee sign it. This can be a part […]
Recipe for Success:
A new breed of service companies seeks to combine efficiency and environment. The word “green” can mean different things to different people these days. To the accounting department it means money. To the public, including investors, it can mean environmentally friendly. Often those two meanings are at odds. At least two service companies with a […]
Drug and Alcohol Abuse
Greetings and salutations! Another great day in the wide world of safety, said no one ever, LOL. Not many people even like the subject of safety, but it is extremely popular among safety people. It’s kind of like when engineers get together and tell engineer jokes, when no one understands the jokes except for engineers. […]
Born on a Prayer
Although completion of the Santa Rita #1 well in Reagan County in 1923 was preceded by the Mitchell County Abrams #1 (1920) and the Loving County Russell #1 (1921), firsts do not necessarily denote the most important. The Santa Rita well, which was in the same 100-barrel production range as those which preceded it, received […]
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