Permian Basin
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.
News
August 26, 2019
On the Texas side, oil and gas producers can drill and frack with relatively few bureaucratic hurdles. In New Mexico, companies need additional approvals from either the U.S. Bureau of Land Management or the state’s Land Office and Oil Conservation Division.
News
August 23, 2019
Natural gas spot prices at the Waha hub in western Texas, located near Permian Basin production activities, closed at $1.55/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
August 13, 2019
Trafigura and Buckeye announced today that Trafigura has received its first delivery of Permian crude oil from Plains All American’s Cactus II pipeline at the Buckeye Texas Partners terminal in Corpus Christi, Texas.
News
August 05, 2019
Exxon Mobil and Chevron aren’t fazed by the drilling mistakes and funding hurdles smaller shale producers are running into in the Permian basin.
News
August 02, 2019
Chevron posted strong production growth from the Permian Basin combined with a stabilization in its refining operations to beat earnings estimates in the second quarter.
News
August 02, 2019
Stock closes at $75.97 for its largest one-day drop since 2008, wiping out $4.4 billion of market value.
News
July 31, 2019
Occidental and Ecopetrol entered into definitive agreements to form a joint venture to develop 97,000 net acres of Occidental’s Midland Basin properties in the Permian Basin.
