Permian Basin

Natural Gas Rig Count Flat as Oil Drilling Stays on Growth Trajectory

Natural Gas Rig Count Flat as Oil Drilling Stays on Growth Trajectory

The U.S. natural gas rig count remained unchanged at 97 during the week ended Friday (Aug. 27), while the oil patch kept its growth trend intact, according to the updated figures from Baker Hughes Co. (BKR). The overall U.S. count rose five units to 508 for the week, with oil rigs added on land accounting…

August 27, 2021
WhiteWater Acquires Gateway Natural Gas Pipeline, Expanding Permian Footprint

WhiteWater Acquires Gateway Natural Gas Pipeline, Expanding Permian Footprint

WhiteWater Midstream LLC said Thursday it has acquired Sendero Midstream’s roughly 24-mile, 400 MMcf/d Gateway interstate natural gas pipeline. Gateway transports dry gas from processing plants in Eddy County, NM, to an interconnection with WhiteWater’s Agua Blanca intrastate pipeline system in West Texas. WhiteWater and partner MPLX LP recently completed a 1.8 Bcf/d expansion of…

August 27, 2021
E&P Permit Requests Said Focused in Permian, Powder River and Eagle Ford

E&P Permit Requests Said Focused in Permian, Powder River and Eagle Ford

U.S. drilling permit activity climbed sharply in July, led by the Eagle Ford Shale, Powder River and Permian basins, but the overall numbers are still short from the pre-pandemic days of July 2019, according to Evercore ISI. The energy analyst team led by James West uses federal and state data to compile a monthly review…

August 16, 2021
Ecopetrol Shows Strong Permian Results, Rebound from Colombia Disruptions

Ecopetrol Shows Strong Permian Results, Rebound from Colombia Disruptions

Colombia’s Ecopetrol SA saw its production take a hit in the second quarter because of social unrest in the country but management foresees a strong recovery this year. Ecopetrol was also boosted in the second quarter by its joint venture (JV) with Occidental Petroleum Corp. in the Permian Basin’s Midland formation in West Texas. “Social…

August 9, 2021
U.S. Natural Gas Rig Count Static, but Lower 48 Oil Drilling Climbs

U.S. Natural Gas Rig Count Static, but Lower 48 Oil Drilling Climbs

The United States gained three drilling rigs for the week ending Friday (Aug. 6), all working in the Lower 48, according to Baker Hughes Co. (BKR).  There were 491 active rigs total in the U.S. onshore and Gulf of Mexico (GOM), compared with 247 for the same period of 2020. The weekly rig tally is…

August 6, 2021
Oxy Looks to Ramp Permian Carbon Capture by Early 2024, Consider More JVs in Lower 48

Oxy Looks to Ramp Permian Carbon Capture by Early 2024, Consider More JVs in Lower 48

The world’s largest direct air capture (DAC) facility, designed to zap up to 1 million metric tons/year of carbon dioxide (CO2) emissions from the Permian Basin, is tracking to start up by early 2024, Occidental Petroleum Corp. CEO Vicki Hollub said Wednesday. Oxy, as it is better known, issued its second quarter results on Wednesday.…

August 6, 2021
Natural Gas Futures Rally for Second Day, Bolstered by Demand Outlook; Spot Prices Spike

Natural Gas Futures Rally for Second Day, Bolstered by Demand Outlook; Spot Prices Spike

Natural gas futures on Monday cruised higher for a second consecutive session as forecasts pointed to stronger weather-driven demand over the back half of July. The August Nymex contract advanced 10.5 cents day/day and settled at $3.779/MMBtu. The prompt month had gained 6.0 cents on Friday to close out trading last week. The September contract…

July 19, 2021
EIA Predicts Rising Natural Gas Production on Strength of Permian, Haynesville Growth

EIA Predicts Rising Natural Gas Production on Strength of Permian, Haynesville Growth

The Permian Basin and Haynesville Shale are expected to spur an overall increase in natural gas production among seven key U.S. producing regions in August, according to updated projections from the Energy Information Administration (EIA). The agency said in its latest Drilling Productivity Report, released Monday, that it expects natural gas output from seven key…

July 12, 2021
Ranger Further Expands Wireline Footprint with PerfX Acquisition

Ranger Further Expands Wireline Footprint with PerfX Acquisition

Ranger Energy Services Inc. has further boosted its wireline presence in the Lower 48 following the acquisition of PerfX Wireline Services, its second takeover since May.  The Houston-based oilfield services company said last week it had acquired Minot, ND-based  PerfX in an all-stock deal. The deal follows the acquisition of Patriot Completions Solutions LLC in…

July 12, 2021
Permian Oil Patch Faces Economic Conundrum as Efficiencies Reduce Workforce

Permian Oil Patch Faces Economic Conundrum as Efficiencies Reduce Workforce

The technological breakthroughs that sparked the Lower 48 oil and natural gas revolution jolted economic activity across the Permian Basin, but the efficiencies reduced the need for people, creating a conundrum of sorts, according to the Federal Reserve Bank of Dallas.  Business economist Garrett Golding and research analyst Sean Howard of the Dallas Fed, as…

July 2, 2021