Permian Basin
News
May 19, 2020
The real result of Saudi Arabia's production cuts, how recovering global markets impact large and small shale players differently, and what that means for the future of the industry.
News
May 19, 2020
Overall production is seen falling by 197,000 barrels a day next month to 7.822 MMbbl, which would be the lowest since late 2018. The expected decline would have been even more dramatic if not for a downward revision to May’s output estimate in the order of half a million barrels a day.
News
May 15, 2020
A week after WTI crude settled below zero for the first time ever, analysts at JPMorgan projected that the U.S. would cut output by 1.5 MMbpd by June. Two weeks into May, production is already down by at least that much and continues to decline.
News
May 15, 2020
Key trends for the coming week, including a couple of wild cards that could threaten the recovering global oil price and production balance.
News
May 14, 2020
Based on capex cuts, falling drilling rig counts, and voluntary production curtailments, the U.S. Energy Information Administration projects domestic crude production to decline through 2021.
News
May 12, 2020
The Railroad Commission of Texas issued a total of 456 original drilling permits in April 2020 compared to 909 in April 2019.
News
May 12, 2020
Some drillers in the biggest North American oil field are reopening wells that were shut in response to the pandemic-driven price collapse, according to pipeline giant Energy Transfer LP.
News
May 08, 2020
Although shutting down a well can be a relatively simple process, industry executives and their engineering teams aren’t altogether sure how smoothly an idle well can be restarted.
News
May 06, 2020
Kurt and Cameron discuss more service company layoffs in Texas, the final outcome on prorationing, and what is likely to happen in shale plays as the crude demand decline levels off.
News
May 05, 2020
The Railroad Commission of Texas (RRC) on Tuesday, May 5, voted against limiting oil production in the state, closing the book on a closely-watched proposal. The plan had been proposed to ensure the economic future of smaller operators, as they face unprecedented volatility in commodity prices.
News
May 05, 2020
A pair of prominent shale producers said all they need is oil around $30 a barrel to consider bringing back curtailed crude output and fracing new wells.
News
May 05, 2020
Shutting an oil well in 2020 is relatively easy, and can even be done with a few taps on an iPhone in some cases. Figuring out which to shut, and for how long, is the hard part.
News
May 05, 2020
On the same day OPEC-style oil quotas in Texas were pronounced dead on arrival, shale drillers disclosed more supply cuts in response to the crude market collapse.
News
May 04, 2020
A Texas regulator who had proposed mandating oil production cuts is now calling those efforts “dead” a day before the state was set to vote on the measure.
News
May 01, 2020
It’s too soon to tell how long the reductions will last, but if implemented for a full year, they would overshadow any previous American production slide going back to at least 1984.
News
April 29, 2020
Crude oil and natural gas production as reported to the Railroad Commission of Texas (RRC) for February 2020 came from 170,960 oil wells and 86,698 gas wells.
News
April 24, 2020
The Railroad Commission of Texas assessed $1,141,580 in fines involving 212 enforcement dockets against operators and businesses at the Commissioners’ Conference this week.
News
April 22, 2020
A historic crash in crude prices is driving U.S. shale into full-on retreat with operators halting new drilling and shutting in old wells, moves that could cut output by 20% for the world’s biggest producer of oil.
News
April 21, 2020
One day after WTI crude closed at -$37.01, the Texas Railroad Commission declined to vote on a proposal to set limits on oil production in the state. In political parlance, the commission kicked the proverbial can down the road for two weeks.
News
April 20, 2020
With oil at -$37.00/bbl, Kurt and Cameron explore how market forces are compelling action on a state, federal and international level, and what can be expected on Day Two of the negative oil price era.
News
April 20, 2020
A perfect storm of weak demand, unbridled production by warring producers, and an exhaustion of storage capacity drove West Texas Intermediate crude to its lowest closing price in modern history.
