Honoring One of Our Own
Permian Basin Oil and Gas Magazine
by PBOG
4h ago
On Jan. 18, the Permian Basin Petroleum Association gathered in the sumptuous confines of the Midland Petroleum Club and made a special occasion of honoring the lifetime achievements of one of the Permian Basin’s great leaders and businessmen: Charles Richard “Dick” Sivalls. The worthy honoree was recognized as the Permian Basin Petroleum Association’s Top Hand for 2023. Being named Top Hand means that the recipient is an energy professional who exemplifies all of the best qualities of professional and community service. Mr. Sivalls with Ben Shepperd and Kirk Edwards. In his almost nine deca ..read more
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Production of crude oil from new wells increases while legacy output is stable
Permian Basin Oil and Gas Magazine
by PBOG
2d ago
U.S. Energy Information Administration said the nation’s crude oil production averaged 13.3 million barrels per day in December because of sustained productivity increases at new wells.  In its Petroleum Supply Monthly, the EIA said, “U.S. crude oil production has increased to record highs since 2010 and has risen even more quickly in recent months.  These record highs have come despite declining U.S. drilling activity because the new wells are more efficient.” Advances in horizontal drilling and hydraulic fracturing have increased well productivity to enable U.S. producers to extrac ..read more
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U.S. Speaker Johnson visits Diamondback drilling rig in Ector County
Permian Basin Oil and Gas Magazine
by PBOG
2d ago
Mike Johnson (R-LA), speaker of the U.S. House of Representatives, visited Permian Basin last week during National Energy Week.  Johnson accepted an invitation from Rep. August Pfluger (R-San Angelo) to visit a drilling rig March 18 in Ector County operated by Diamondback Energy.  “The Permian Basin is so critically important,” Johnson said.  “It’s been a blessing to the U.S. to have these resources and the technology to develop them.” Pfluger, who represents an 11-county area in west Texas, said he invites fellow Congressmen to the Permian Basin because it’s important for them ..read more
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U.S. count of gas drilling rigs falls to lowest in 27 months since January 2022
Permian Basin Oil and Gas Magazine
by PBOG
2d ago
Baker Hughes said the count of natural gas drilling rigs in U.S. declined to 112 (down 4 in past week) as of March 22 – its lowest in 27 months since January 2022.  U.S. Energy Information Administration said the gas well count declined “as some producers slash spending and reduce drilling activities after gas futures plunged to a 3.5-year low in February.” U.S. oil production still is expected to hit record highs in 2024 and 2025, but U.S. gas output in 2024 is forecast to drop from the record high of last year. The post U.S. count of gas drilling rigs falls to lowest in 27 months since ..read more
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Only Upton among top 10 Permian counties adds rigs in past week
Permian Basin Oil and Gas Magazine
by PBOG
2d ago
Only one of the top 10 counties in Permian Basin added drilling rigs last week as the count declined after a week of gains.  Baker Hughes said as of March 22 there were 315 rigs in Permian Basin (316 previous week, 353 year ago), 294 in Texas (unchanged in past week, 372 year ago), 106 in New Mexico (107 previous week, 108 year ago) and 624 in U.S. (629 previous week, 758 year ago). Only Upton among Permian leaders added rigs last week – up 3 to 23 for No. 5 in the basin.  Eddy (unchanged at 59) and Lea (down 1 to 44) in New Mexico remain the top two followed by Martin (unchanged at ..read more
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Shifting Sand
Permian Basin Oil and Gas Magazine
by PBOG
3d ago
As prevalent as a PropX box. While that line, above, is not a commonplace figure of speech in the Basin, it might as well be. The PropX box is everywhere. That’s because sand is everywhere—or at least it is going everywhere. And usually on the road that you are driving on. When God put the oil in the Permian Basin, he put the sand here to go with it. Well played, God. Well played. The Odessa American reported late last year that “Permian frac sand mining continues to increase to support the surging Texas oil industry, but not with fast-rising costs.” While companies like PropX, Black Mountain ..read more
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APA expects to close April 1 on Callon acquisition in Permian Basin
Permian Basin Oil and Gas Magazine
by PBOG
6d ago
Houston-based APA Corp. said recently it expects to close on or about April 1 on its recent $4.5 billion acquisition of Callon Petroleum.  APA and Callon scheduled shareholder meetings March 27.  “We look forward to integrating the Callon assets and providing more information about the Permian Basin outlook from the combined assets,” John J. Christmann IV, CEO, said Feb. 26.  “We are confident that we will deliver considerable future value for both companies’ shareholders.” Callon’s assets provide additional scale to APA and subsidiary Apache across the Permian Basin, most notab ..read more
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Liberty Energy to build new regional headquarters in Odessa
Permian Basin Oil and Gas Magazine
by PBOG
6d ago
Liberty Energy held groundbreaking ceremony March 5 for a new regional headquarters in Odessa.  The $50 million, two-story facility at Leeco Industrial Park will include a 42-bay maintenance shop, 6-bay truck wash facility, warehouse of 50,000 square feet, offices and training center.  Liberty’s project includes a grant of $2.5 million from Odessa Development Corp. Chris Wright, CEO, said, “Liberty is excited about this new $50 million facility.  We are in the business of bettering human lives, and there is no better place to make that happen than in Odessa, Texas, the heart of ..read more
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APA forecasts 20 percent production growth for Permian Basin
Permian Basin Oil and Gas Magazine
by PBOG
6d ago
Houston-based APA Corp., parent company of Apache, said recently it expects to surpass its pre-pandemic production levels in Permian Basin by 2024Q4 with 20 percent growth compared to 2023Q4.  John J. Christmann IV, CEO, said Feb. 26, “We have achieved top-tier well results and best-in-class production improvements in both the Midland and Delaware basins.  The company has delivered high returns and strong oil volume growth through extensive data collection and analysis and by applying propriety workflows from planning through execution that have driven substantial drilling efficiency ..read more
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Mobility Matters. That’s Why the PBPA Matters.
Permian Basin Oil and Gas Magazine
by PBOG
1w ago
Tommy Taylor PBPA Chairman Occasionally I travel to places outside of the Permian Basin. I know, I know. You might be asking, why would I ever leave the oasis that is Midland, Texas? Well, I figure if our oil has mobility around the world, I guess I can do a bit of traveling too. When I do travel, I am always taken aback by the sheer volume of cars and trucks on the road when driving to and around the bigger cities like Houston, Dallas, Fort Worth, and Austin, in Texas and in cities beyond. We are all aware of the increased activity throughout West Texas and East New Mexico with the volume o ..read more
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