Permian Basin
News
September 28, 2020
The combination will create one of the biggest independent shale producers in the country, tying together two companies with sizable operations in the hottest part of the prolific Permian Basin, which straddles West Texas and southeastern New Mexico.
News
September 25, 2020
While Canada's leaders promise measures to protect oilfield livelihoods, shale drillers in the U.S. are working to minimize the impacts of a potential Biden victory.
News
September 25, 2020
The Permian in New Mexico, unlike in Texas, lies largely on federal land. And Biden, the Democratic candidate for president, has promised to ban new fracing on federal land on “day one” if elected.
News
September 24, 2020
After all the trauma the U.S. oil industry has been through this year -- from production cuts to mass layoffs and a string of bankruptcies -- many producers say they’re still prioritizing output over reducing debt.
News
September 23, 2020
For the fourth straight year the Railroad Commission of Texas has exceeded its performance target of plugging abandoned oil and gas wells throughout the state. With the fiscal year ending on Aug. 31, the agency plugged 1,477 orphan wells in Fiscal Year 2020, which exceeded the target of 1,400 set by the Legislature.
News
September 15, 2020
In a local Philadelphia TV interview, Democratic nominee Joe Biden told reporters “I will not ban fracing.” He failed to mention that his climate plan’s ban on drilling on federal property would go much further than a simple frac ban.
News
September 10, 2020
Enterprise shelved plans to add 450,000 barrels a day of capacity to a system that carries oil from Texas’s Permian basin to the U.S. Gulf Coast. It joins scores of oil explorers, contractors and pipeline giants that have slashed billions of dollars in investments amid a swelling supply glut that sent crude prices plummeting earlier this year.
News
September 04, 2020
Between Halliburton and Liberty Oilfield Services, hydraulic fracturing's two major players have fundamentally different field capabilities and technology ambitions. World Oil editors discuss how the differing strategies these two companies offer will change how operators will approach future shale project developments.
News
September 03, 2020
“Customer demand has told us to grow at this pace, and then deals like this come to us,” Liberty CEO Chris Wright said in an interview after the deal was announced on Tuesday. “Our goal with this acquisition is to keep getting better, but to the extent we succeed at that, it probably leads to us being the leader sometime down the road.”
News
September 01, 2020
After similar exits over the past few years by Baker Hughes and Weatherford International, Halliburton is now the sole global provider of well completions for shale, and even Halliburton has said it’s looking overseas for better growth.
News
September 01, 2020
The U.S. Environmental Protection Agency announced the proposed addition of Northwest Odessa Groundwater site to the National Priorities List (NPL) where releases of contamination pose human health and environmental risks. The site contains contamination that is potentially threatening the Trinity/Antlers portion of the Edwards-Trinity Plateau Aquifer System in Odessa, Texas.
News
August 28, 2020
World Oil editors discuss how recent land drilling activity, and the oil price's resilience to external factors suggest that pieces may be coming into place to support the start of a U.S. shale recovery.
News
August 27, 2020
Inspectors are ready to respond to reports of leaks or spills or other issues in oil and gas operations, pipelines, natural gas utilities, liquified petroleum gas (LP-gas), and coal and uranium surface mining operations.
News
August 21, 2020
Drillers in the Permian basin of West Texas and New Mexico led the rest of the nation in expanding the rig count. With crude stabilizing above $40 a barrel, the total number of active U.S. oil rigs rose by 11 to 183 this week, according to Baker Hughes Co. data released Friday.
News
August 20, 2020
Serva Group announced the acquisition of ValTek Industries, a Permian-based manufacturer of hydraulic fracturing pumps and pump parts, including high pressure pumps, fluid ends, power ends, and expendable parts such as valves and seats for the oil and gas industry.
News
August 14, 2020
Shale explorers parked more drilling rigs in the U.S. this week as stagnant oil prices push the industry to extend a historic retrenchment. The number of active oil rigs in U.S. fields fell by 4 to 172, according to Baker Hughes Co. data released Friday.
News
August 05, 2020
The pandemic and subsequent plunge in crude prices has forced U.S. crude explorers to scrap plans to expand supplies amid investor skepticism toward the shale business model. For some of the biggest names, that’s meant vowing restraint as long as oil lingers at levels too low to support a new boom.
News
August 05, 2020
While the amount of gas produced in Texas declined by 13 percent from June 2019 to May 2020, the portion of produced gas that was flared dropped even more sharply by 79% during that same time period.
News
August 03, 2020
Occidental Petroleum Corp. has restored employee pay cuts imposed after oil prices tumbled and doubled the salary cap for executives to $500,000 a year.
News
July 31, 2020
Denbury Resources elected in mid-July to skip paying about $3 million of interest on notes maturing in 2023, triggering a 30-day grace period before it entered a formal default. It listed almost $2.3 billion of borrowings in a recent regulatory filing.
News
July 30, 2020
During second-quarter 2020, COVID-19, as a global economic event, laid waste to energy markets, and due to the resulting economic lockdown and deep contraction in energy demand, “dealt a gut-punch to the Texas oil and gas industry, which continues midway through the year.” That is the assessment of the Texas Alliance of Energy Producers, and it is borne out by the numbers coming from the association’s Texas Petro Index.
