Permian Basin ///

U.S. shale has already peaked for major service companies

U.S. shale oil fracking has already peaked and is in a period of sustained contraction, according to two major providers of services to the industry.

Texas processing drilling permits at record pace

For two years in a row since 2018, Railroad Commission of Texas staff have set a historic record of taking just two days on average to process standard drilling permits, one day below the legislative requirement.

One of the best Permian investments doesn’t produce any oil

Texas Pacific Land Trust, a land bank that doesn’t produce oil, is one of the best ways for investors to gain exposure to the world’s largest shale field, according to Stifel Financial Corp.

Permian pipeline competition accelerates as capacity exceeds supply

Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production and takeaway capacity that’s already spurring midstream rate cuts and could mean cutthroat competition ahead.

Federal Reserve Bank of Dallas: Texas oil sector contracting amid ‘challenging’ conditions

The contraction of the oil and gas industry in and around Texas continued in the fourth quarter as shale producers cut back on spending and jobs, the latest survey from the Federal Reserve Bank of Dallas showed.

The Permian gas production problem worsens

America’s top shale field is becoming increasingly gassy as drilling slows down, undercutting profits for explorers at a time when investors are demanding better returns.

Permian banks now latest drag on Texas economy, Fed says

The slowdown in Permian Basin oil drilling and fracking is spreading to the lenders as austerity takes hold.

Milestone Environmental opens its eighth slurry injection facility in Texas

Big Spring is the second of three facilities in Milestone’s previously announced 2019 construction program, and part of a broader goal to build the largest, most environmentally-conscious oilfield waste disposal network in the Permian basin.

U.S. energy chief says the Permian slowdown is only temporary

Even as growth is set to slow next year in the Permian and elsewhere as drillers respond to investor demands for capital restraint, U.S. Energy Secretary Dan Brouillette said the shale boom has further to run.

WaterBridge raises $345 million for Permian expansion

While drilling activity in the Permian has been cooling in recent months, the business of supplying water to shale producers in the biggest U.S. oil patch – and disposing of the wastewater – continues to attract private equity.

Permian industry groups challenge perceptions on methane emissions

Methane-emissions intensity in the Permian Basin plunged 64% in the past seven years, even as crude production surged, according to a report by Texans for Natural Gas, the Permian Basin Petroleum Association and the New Mexico Oil and Gas Association.

Accelerating Permian base decline demands more drilling to maintain current output, says IHS Markit

"Base decline is the volume that oil and gas producers need to add from new wells just to stay where they are—it is the speed of the treadmill,” said Raoul LeBlanc, vice president of unconventional oil and gas at IHS Markit.

Fracing slowdown in Permian basin leads to more job losses

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%.

Permian basin is now an anchor dragging down jobs in Texas, Dallas Fed says

The world’s biggest shale patch is now officially a drag on jobs creation in the Lone Star state.

Petrofac enters Permian shale market with W&W Energy acquisition

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.

Occidental to sell Permian campus following Anadarko acquisition

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.

U.S. oil production growth in for a ‘major slowdown,’ says IHS Markit

U.S. shale production—the chief source of rapid growth that made the United States the world’s largest oil producer—is slowing down fast, says a new report by IHS Markit.

Gravity to acquire Permian water gathering and disposal company from White Deer Energy

Gravity's acquisition of On Point will create the largest commercial produced water disposal company by injection volumes in the Midland basin.

Diamondback Energy joins ranks of struggling shale operators

Diamondback Energy Inc. said it’s fundamentally changing the way it forecasts future growth after becoming the latest Permian basin shale producer to hit operational hurdles.

Shale oil pioneers say the boom times are over

The days of relentless production growth from U.S. shale oil fields are ending, potentially aiding OPEC’s years-long effort to drain a worldwide supply glut, according to industry pioneers Scott Sheffield and Mark Papa.