Permian Basin ///

Asian investor steps into America's shale gas market

A relentless flow of natural gas from America’s shale basins is drawing bears to the market—and that’s music to the ears of at least one Asia-backed investor.

Buying Texas oil at New Mexico prices: Majors go west for shale

The state, which covers a smaller part of the oil-soaked shale formation, is the fourth-largest U.S. producer and luring industry giants including ExxonMobil, Chevron Corp., EOG Resources Inc. and Occidental Petroleum Corp. Their investments -- while small compared with Texas -- are increasing as activity in the rest of the Permian starts to slow down.

Flaring alternative acts as portable produced-water management tool

Mark Patton, Hydrozonix

A new design addresses two of the most common concerns in unconventional plays.

Weir Oil & Gas expands Permian presence with new customer service center

Fort Worth-based Weir Oil & Gas today broke ground on a 92,000-ft2 customer service center that will be located at the David Mims Business Park on Interstate 20. The new center reflects the company’s strong commitment to the Permian basin region, consolidating three existing Permian-area service center locations into one central location.

FairfieldNodal adds to Delaware basin database

FairfieldNodal’s Red Tank acquisition project in the Delaware basin continues to progress on schedule. There are 380 sq mi of fast-track data now available, completing this portion of the project. Final PSTM data will be available mid-December 2017, and a PSDM product is expected in early first-quarter 2018.

Clariant expands support for local North American oil services customers

Clariant, a world leader in specialty chemicals, announces a low single-digit million amount investment to strengthen two of its North American Oil Services sites in order to further support customer growth in key oil basins.

Rise in Texas earthquakes near oil fields prompts new monitoring

Texas, home to two of the nation’s busiest oilfields, now has a new way for the public to track in real time how many earthquakes are rattling the Lone Star State since the expanded use of new drilling techniques.

ExxonMobil acquires crude oil terminal to serve growing Permian production

ExxonMobil Corporation announced today that it has acquired a crude oil terminal in Wink, Texas from Genesis Energy LP. The terminal is located in the rapidly growing Delaware basin, part of Permian basin, one of the most prolific plays in the U.S.

Apache Corp. provides update on Alpine High

Apache Corp. has announced steady progress at Alpine High since revealing the discovery last year.

Pioneer announces 11% production increase from Spraberry/Wolfcamp

Pioneer Natural Resources Company has announced that production for the third quarter of 2017 was 276,000 boed, an increase of 17,000 boed, or 6% from the second quarter of 2017.

Encana calls end to Permian land race as focus turns to output

Encana Corp. CEO Doug Suttles says drillers in Texas’s prolific Permian basin can no longer impress investors with how much acreage they’re snapping up or how quickly they’re boosting production.

EIA: Permian basin to drive fourth-quarter U.S crude production increases

In its Short-Term Energy Outlook (STEO) update released this week, EIA forecasts that U.S crude oil production will average 9.4 MMbpd in the second half of 2017, 340,000 bpd more than in the first half of 2017.

Cubility signs distribution agreement for solids control technologies in U.S., Canada

Cubility AS, a provider of solids control solutions that improve drilling efficiency, solids control and HSE around the drilling process, has announced two exclusive distribution partnerships with Calgary-based New Tech Solids Inc and Houston-based Stage 3 Separation.

Occidental Petroleum reports $70-million third-quarter loss from Hurricane Harvey

Occidental Petroleum Corporation announced third quarter 2017 business impacts of Hurricane Harvey as operations have returned to pre-storm levels. Overall, the storm caused minimal disruptions to operations and Occidental expects this one-time financial and production impact to be limited to the third quarter.

Shale drillers, oil sands producers need crude above $50/bbl for boom to last

Shale drillers and oil sands producers have posted some healthy profits so far this year, but it’ll take oil consistently above $50/bbl for their investments to pay off in the long run.

ExxonMobil strengthens its position in the Permian with addition of 22,000 acres

ExxonMobil Corporation has announced that it has added 22,000 acres to its Permian basin portfolio since May through a series of acquisitions and acreage trades.

Permian basin pipeline transports water along 475-mi route

The pipeline has the potential to move over 2.3 MMbbl of freshwater per day for oil and gas operations located throughout the Permian basin, the nation’s highest-producing oilfield.

Oil ghost towns dot the landscape in Texas’s other shale patch

If Texas’s Permian basin is Exhibit A for the U.S. oil boom that refuses to die, then the Eagle Ford, a smaller shale patch some 400 mi to the east, represents all those places that have been left behind.

OPEC's role in midst of shale strength

Bassam Fattouh, director of the Oxford Institute for Energy Studies, argues that while U.S. shale poses a threat to OPEC, the idea that the organization has no role in the oil market is unrealistic. Fattouh was interviewed via email between Sept. 21-22. Comments have been edited and condensed.

Permian `super basin' holds up to $3.3 trillion in untapped oil

The Permian basin of Texas and New Mexico holds 60 to 70 Bbbl of yet-to-be pumped crude oil, according to a study by IHS Markit Ltd.