Permian Basin ///

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.

Regional Report: Permian Basin

Mike Slaton, Contributing Editor

The ultimate U.S. basin shines again

Shaletech: Eagle Ford Shale

Jim Redden, Contributing Editor

Making hay in a temperamental market

U.S. operators are teed up for a drilling resurgence

Alex Endress, Craig Fleming, Kurt Abraham, World Oil

Drilling activity is noticeably higher, as American drillers climb out from historically low levels.

Packers Plus optimizes completions in the Permian with cemented sleeve technology

Packers Plus Energy Services Inc. has announced recent success with an operator in the Permian basin using TREX Cemented Completions Solutions, a suite of new, high-quality technologies designed to optimize cemented well completions for customers worldwide.

Permian operators’ lofty production targets supported by strong hedging, IHS Markit says

Oil-weighted exploration and production (E&P) companies operating in the prolific Permian basin have 65% of their oil production hedged at an average strike price of approximately $50/bbl. This supports their aggressive production targets for 2017, according to new analysis from IHS Markit.

QEP Resources turns to Permian, sells Wyoming assets for $740 million

QEP Resources Inc. said it would sell its natural gas assets in Wyoming to privately held Pinedale Energy Partners LLC for about $740 million, as the U.S. oil and gas producer focuses on liquids-rich, higher-margin assets.

Falcon Seaboard launches $145-million Permian investment fund

Falcon Seaboard Resources, LLC, has announced the launch of the $145-million Falcon Seaboard Permian Fund I, LP. The fund is the first time David Dewhurst, the CEO and chairman of Falcon Seaboard Diversified, Inc., and former Lieutenant Governor of Texas, has accepted outside investments.

2016 SPE President Nathan Meehan to keynote ShaleTech Permian conference

Former SPE President Nathan Meehan (2016), President of Gaffney, Cline & Associates, will deliver the keynote address at World Oil’s inaugural ShaleTechTM Permian conference in October.

Halcón shifts focus to Permian with $1.4-billion Bakken sale

Shale oil producer Halcón Resources Corp. said it would sell most of its North Dakota operations for $1.4 billion cash, part of a plan to shift its focus to Texas' Permian basin, the largest U.S. oilfield.

H2O Midstream acquires Permian basin produced water assets from Encana

H2O Midstream announced today the acquisition of produced water infrastructure from Encana Oil & Gas (USA) Inc. concurrent with the execution of an acreage dedication based midstream water services agreement. Under the agreement, H2O Midstream will gather, dispose and deliver for re-use produced water for a substantial portion of Encana’s acreage position in Howard County, Texas.

Hess announces sale of enhanced oil recovery assets in Permian basin

Hess Corporation has announced that it has entered into an agreement to sell its interests in enhanced oil recovery (EOR) assets in the Permian basin to Occidental Petroleum Corporation for a total consideration of $600 million, effective June 1, 2017.