Permian Basin
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
January 10, 2020
Texas Pacific Land Trust, a land bank that doesn’t produce oil, is one of the best ways for investors to gain exposure to the world’s largest shale field, according to Stifel Financial Corp.
News
January 03, 2020
Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production and takeaway capacity that’s already spurring midstream rate cuts and could mean cutthroat competition ahead.
News
December 24, 2019
America’s top shale field is becoming increasingly gassy as drilling slows down, undercutting profits for explorers at a time when investors are demanding better returns.
News
December 23, 2019
The slowdown in Permian Basin oil drilling and fracking is spreading to the lenders as austerity takes hold.
News
December 18, 2019
Even as growth is set to slow next year in the Permian and elsewhere as drillers respond to investor demands for capital restraint, U.S. Energy Secretary Dan Brouillette said the shale boom has further to run.
News
December 18, 2019
While drilling activity in the Permian has been cooling in recent months, the business of supplying water to shale producers in the biggest U.S. oil patch – and disposing of the wastewater – continues to attract private equity.
News
December 17, 2019
Methane-emissions intensity in the Permian Basin plunged 64% in the past seven years, even as crude production surged, according to a report by Texans for Natural Gas, the Permian Basin Petroleum Association and the New Mexico Oil and Gas Association.
News
December 13, 2019
"Base decline is the volume that oil and gas producers need to add from new wells just to stay where they are—it is the speed of the treadmill,” said Raoul LeBlanc, vice president of unconventional oil and gas at IHS Markit.
News
December 03, 2019
Permian basin frac crews, who are brought in to complete the final stage for creating a new oil well, have dropped 21% so far this year. For all of 2018, frac crews in the West Texas and New Mexico oil fields expanded by 1.3%.
News
November 28, 2019
The world’s biggest shale patch is now officially a drag on jobs creation in the Lone Star state.
News
November 20, 2019
The bolt-on acquisition is in line with Petrofac's stated strategy to position its Engineering & Production Services for growth by diversifying into new markets and geographies.
News
November 11, 2019
Occidental Petroleum plans to sell a four-story office building in the heart of the Permian basin and move employees into a nearby one owned by Anadarko, the oil producer it bought for $37 billion three months ago.
News
November 06, 2019
Gravity's acquisition of On Point will create the largest commercial produced water disposal company by injection volumes in the Midland basin.
