Permian Basin ///

Oxy to cut Permian spending as Anadarko purchase dents earnings

Oxy pledged to slash spending by 40% next year after quarterly profit fell short of forecasts due in part to the oil explorer’s $37 billion takeover of Anadarko.

Permian surge helps Exxon and Chevron weather oil slump

America’s two biggest oil majors are leaning on booming shale production in the Permian basin to weather the gathering macroeconomic storm of lower oil demand, weak commodity prices and slowing global growth.

Talk of a frac ban has one driller tapping federal lands in advance

Independent shale producer Concho Resources Inc. said it’s tapping federal acreage for drilling now in case the U.S. elects a president who favors a fracing ban.

Trump highlights benefits of shale to U.S. economy and the environment

The Trump administration showed support for energy innovation in the United States this week, issuing a report that directly outlines how U.S. shale production is positively impacting both the economy and the environment.

Fracing slowdown weighs on Caterpillar as sales of pumps drop

The U.S. shale slowdown is weighing on Caterpillar Inc., which is selling fewer of the pumping units used in fracing.

Despite headwinds, Chevron sees ‘long, healthy pace’ in Permian

Chevron sees a “boom boom boom kind of economy” in West Texas, shrugging off signs of a Permian Basin slowdown showing up in everything from jobs to hotel rooms.

New Permian oil pipelines fail to deliver immediate export boost

Newly commissioned Permian basin crude pipelines have yet to boost U.S. crude exports, as the ongoing U.S-China trade war weighs on demand from Asia.

Oilpatch jobs are drying up in the Permian basin

Through August, Permian employment has grown at an annualized rate of 0.7%, far less than the 11.4% growth of the same period last year, the Dallas Fed said Wednesday in its latest monthly report.

Pickering Energy Partners, Henry Resources strike Permian basin JV deal

Under the terms of the partnership, Henry and Pickering Energy Partners will target to invest at least $500 million in producing asset packages to be operated by the Henry team.

Permian ‘child’ wells may cut oil recovery up to 20%, bank says

Oil producers drilling so-called parent-child wells in the Permian Basin are risking the loss of 15% to 20% of the crude that can ultimately be recovered from those wells by spacing them too close together, according to a Houston-based investment bank.

U.S. exported more oil than Saudi Arabia in June

The U.S. briefly became the world’s No. 1 oil exporter as record shale production found its way to global customers, and there are prospects for more.

Water management

Mark Patton, Hydrozonix

The power of water

First oil

Kurt Abraham, World Oil

Another mixed outlook awaits the E&P sector

Permian basin natural gas prices up as a new pipeline nears completion

The EIA reports that natural gas spot prices at the Waha hub in western Texas, located near Permian basin production, settled at $1.55/million British thermal units (MMBtu) on August 15, the highest price since March 2019. This price increase coincides with the 2 Bcfd Gulf Coast Express Pipeline (GCX) preparing to enter service.

TGS enhances production data offering with Lasser acquisition

Lasser owns, maintains and licenses a nationwide U.S. well production database. The data will be added to TGS’ current Well Performance Database and provides TGS clients access to previously unavailable historical production data.

First cargo from Freeport LNG Train 1 for McDermott, Chiyoda and Zachary Group

"We continue to make great strides on the Freeport LNG project with the shipping of the first cargo from Train 1, which is a major milestone for the joint venture project team," said Mark Coscio, McDermott's senior vice president for North, Central and South America.

Big Oil gathers Permian riches as shale stocks collapse

A bloodbath in energy stocks is creating a rich opportunity for Big Oil to dominate America’s hottest shale play. Exxon Mobil’s chief said Wednesday his company is keeping a “watchful eye” on the Permian for potential deals.

BP focuses on deepwater, shale in historic shift south from Alaska

BP has closed one chapter in its U.S. business, exiting Alaska decades after transforming the state into an oil powerhouse. Now it’s time for a new phase in the company’s American story.

Permian boom collides with New Mexico governor’s climate-change push

On the Texas side, oil and gas producers can drill and frack with relatively few bureaucratic hurdles. In New Mexico, companies need additional approvals from either the U.S. Bureau of Land Management or the state’s Land Office and Oil Conservation Division.

Permian basin prices up as Gulf Coast Express Pipeline nears completion

Natural gas spot prices at the Waha hub in western Texas, located near Permian Basin production activities, closed at $1.55/MMBtu on August 15, the highest price since March 2019. This price increase coincides with the 2 Bcfd Gulf Coast Express Pipeline (GCX) preparing to enter service.