Permian Basin
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.
News
November 05, 2019
Oxy pledged to slash spending by 40% next year after quarterly profit fell short of forecasts due in part to the oil explorer’s $37 billion takeover of Anadarko.
News
November 03, 2019
America’s two biggest oil majors are leaning on booming shale production in the Permian basin to weather the gathering macroeconomic storm of lower oil demand, weak commodity prices and slowing global growth.
News
October 23, 2019
Chevron sees a “boom boom boom kind of economy” in West Texas, shrugging off signs of a Permian Basin slowdown showing up in everything from jobs to hotel rooms.
News
October 07, 2019
Newly commissioned Permian basin crude pipelines have yet to boost U.S. crude exports, as the ongoing U.S-China trade war weighs on demand from Asia.
News
October 04, 2019
Through August, Permian employment has grown at an annualized rate of 0.7%, far less than the 11.4% growth of the same period last year, the Dallas Fed said Wednesday in its latest monthly report.
News
September 24, 2019
Under the terms of the partnership, Henry and Pickering Energy Partners will target to invest at least $500 million in producing asset packages to be operated by the Henry team.
News
September 20, 2019
Oil producers drilling so-called parent-child wells in the Permian Basin are risking the loss of 15% to 20% of the crude that can ultimately be recovered from those wells by spacing them too close together, according to a Houston-based investment bank.
News
September 06, 2019
The EIA reports that natural gas spot prices at the Waha hub in western Texas, located near Permian basin production, settled at $1.55/million British thermal units (MMBtu) on August 15, the highest price since March 2019. This price increase coincides with the 2 Bcfd Gulf Coast Express Pipeline (GCX) preparing to enter service.
News
September 05, 2019
A bloodbath in energy stocks is creating a rich opportunity for Big Oil to dominate America’s hottest shale play. Exxon Mobil’s chief said Wednesday his company is keeping a “watchful eye” on the Permian for potential deals.
