Permian Basin ///

McDermott awarded EPC contract for CB&I storage tanks in South Texas

McDermott International, Inc. has announced a sizeable* contract award for CB&I Storage Tanks for the engineering, procurement, fabrication and construction of three external floating-roof tanks in Taft, Texas.

Energy issues

William J. Pike, World Oil

There is sand, and then there is sand

Liquids pipeline to convert to oil in an effort to alleviate Permian bottlenecks

The developer of the private equity-backed EPIC natural gas liquids pipeline will temporarily convert the conduit to carry crude oil as bottlenecks in America’s hottest shale play threaten to curtail production.

Laredo Energy VI weighs sale worth up to $300 million

Laredo Energy VI LP, a private-equity backed natural gas explorer in the Eagle Ford Shale of south Texas, is exploring a sale that could value the company at as much as $300 million, according to people familiar with the matter.

Companies in the news

Michele Cowart, World Oil

LLOG Exploration delivered first production from its Crown and Anchor fields in the Gulf of Mexico, during second-quarter 2018.

Permian oil auction gets record $1 billion as bidding soars

The price to access unexplored shale assets on the New Mexico side of the Permian basin soared to $95,001 an acre in a federal government auction, a record high for North America’s biggest oil field.

Magnolia Oil & Gas acquires majority of Harvest Oil & Gas' South Texas assets

Magnolia Oil & Gas Corporation has announced that it has agreed to acquire substantially all of the South Texas assets of Harvest Oil & Gas Corp. for approximately $135 million in cash.

People in the industry

Emily Querubin, World Oil

Anadarko Petroleum Corporation has named Mitch Ingram, formerly executive V.P., international and deepwater operations and project management, to the post of executive V.P., international, deepwater and exploration.

Permian oil production requires additional pipeline infrastructure

Staff, Energy Web Atlas; Staff, World Oil

Further expansion of oil output in the Permian basin is dependent on a number of pipelines being built or expanded. Here is a rundown of the status of various pipeline projects in the region.

New frac-pack additive is step change in sulfide scale control for Permian long horizontals

Dr. Cyril Okocha, Clariant Oil Services

A new sulfide scale control, frac-pack additive solved a Permian basin operator’s severe production impairment during start-up, and initial frac-fluid return, in 50-stage, hydraulically stimulated, 15,000-ft horizontal Spraberry formation wells.

Permian basin leads the pack

Travis Harris, Packers Plus Energy Services

Innovative completion technology helps reduce break-even prices to keep operators afloat in the Permian basin

Encana's earnings beat estimates on output growth, Permian price

Encana Corp., which produces oil and natural gas in Canada and the U.S., reported a better-than expected second-quarter profit as output expanded amid “robust prices,” with a premium for Permian crude.

Fairfield Geotechnologies wins two processing contracts in core areas

Fairfield Geotechnologies proudly announces that it has been awarded two significant processing projects in core areas.

‘Bridge to Nowhere’ leaves pent-up Permian gas problems unsolved

A major Mexican pipeline opened this week after almost two years of delays. That’s the good news for drillers across the border who are seeking an expanded market for natural gas siphoned from the pent-up Permian basin.

WoodMac: ICE announces futures contract based on Permian crude to Houston

Today, the Intercontinental Exchange Inc. (ICE), an operator of global exchanges and clearing houses for the financial and commodity markets in the U.S., announced plans to launch a new Permian West Texas Intermediate (WTI) crude oil futures contract with physical delivery in Houston.

Permian pinch spurs pipeline binge, and fears of overbuild

The pipeline crunch threatening the world’s hottest shale play won’t be solved until at least the back half of next year. But then, the floodgates will open.

Gulf Energy Information, World Oil partner with PBWMC to host day two of ShaleTech

Gulf Energy Information, the media and market intelligence company that produces World Oil and its associated events, is pleased to announce the addition of a special water management segment at ShaleTech 2018.

Shell seen reclaiming dominance in Texas shale country

Shale oil hasn’t always been Royal Dutch Shell Plc’s best friend, but they’re working on the relationship.

IHS Markit: "Stunning" Permian oil production to more than double from 2017-2023

Oil production in the Permian basin, already a major force in global supply growth, will rise nearly 3 MMbpd by 2023—a level of growth exceeding most recent estimates, a new outlook by business information provider IHS Markit says. What the report describes as a “stunning” level of growth will comprise more than 60% of net global production growth during that timeframe.

MEI projects Marcellus, Utica and Permian to supply 55% of U.S. gas by 2030

McKinsey Energy Insights (MEI), the data and analytics specialist that provides distinctive insight to the global energy industry, forecasts that the Marcellus, Utica, and Permian shale plays will supply 55% of the North American gas market by 2030.