: "We still have this issue where we have the best operator producing 30-40% more for the same dollar drilled in the same producing zone than the worst operator.". Permian Basin News. Anadarko According to an analyst, The Gray Oak Pipeline could help alleviate a crude oil transportation bottleneck in the Permian Basin … Chesapeake Energy CHK - Permian Basin Unconventional Liquids Plays (West Texas and southern New Mexico): Chesapeake has built a strong position of approximately 670,000 net acres of leasehold in four Permian Basin unconventional liquids plays: the Avalon Shale, Bone Spring, Wolfcamp and Spraberry in West Texas and in southern New Mexico. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation With Forbes Insights. I pointed out that that was one of the big drivers behind the April/May battle between Oxy and 20 Nov 2019 11:16 PM | Meghan Silva (Administrator) The PBAP is proud to share that we raised over $40,000 in scholarship money for Midland College, Odessa College, and UT Permian Basin students, community improvement initiatives, and law enforcement and first responders support. Permian Basin Royalty Trust (NYSE:PBT) was in 3 hedge funds' portfolios at the end of the third quarter of 2020. The answer quoted above was to my first question, related to the growing current conventional wisdom among some critics of the industry that per-well productivity was somehow crashing in the region. Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. That multiplies the basin’s natural resource potential. That's a story that the industry itself is going to have to a better job of telling, because no one else is going to do that on its behalf. Get custom notifications on traffic, crime and events happening in your area. They completely miss the nuances of all of these variables and the non-linear aspects in all of this. The New Mexico field advocate for national environmental group Earthworks said oil and gas facilities across the Permian Basin and in southeast -mexico">New Mexico were responsible for air-polluting emissions with little oversight from the state, even as product slowed amid the COVID-19 pandemic. All Rights Reserved, This is a BETA experience. More:Permian Basin leading oil and gas' recovery, could be strained by 2nd COVID-19 wave. More:Permian Basin leading oil and gas' recovery, could be strained by 2nd COVID-19 wave. We are your go-to source for local news, weather and sports in the Permian Basin, powered by Big 2 News - KMID and Fox 24 News - KPEJ. News. It would have crossed 24 Texas counties and four parishes in Louisiana, moving up to 2.3 billion standard cubic feet of gas per day. Days after Parsley closed its $2.3 billion deal to … You may opt-out by. And right now, we are doing a land-office business in land in West Texas and Southeast New Mexico that, when you superficially look at it, nobody would expect...they would look at a map and say all the big blocks are already put together. Midland oil company Discovery Operating filed its first drilling permits since June. Gilmer says, not exactly. I hear a lot of people holding forth on the end of hydrocarbons because they don't know much about the dynamics of a rapidly changing industry. Permian Basin's oil and gas water sector continues growth in Texas and New Mexico. Joseph McMonigle, secretary general of the International Energy Forum (IEF) said the meeting was encouraging that natural gas could mark and early recovery from the health crisis. But hasn’t that always been the case everywhere? Skill actually matters. © 2020 Forbes Media LLC. Absolutely," he said. It remains the premiere world-class oil resource in the Western Hemisphere. Address all purchased requests, subscriptions, news items and inquiries to: Permian Basin Oil and Gas Magazine 500 … The all time high for this statistics is 11. So, bottom line, the Permian Basin is not "dying," "on its last legs," or "peaking." I spend a lot of time listening. DALLAS, Nov. 19, 2020 /PRNewswire/ -- Simmons Bank, as Trustee of the Permian Basin Royalty Trust … Permian Basin Royalty News . Output at every formation is expected to fall in October, except the Permian basin of Texas and New Mexico, where production is expected to rise by about 23,000 bpd to 4.17 million bpd, the data showed. Date of Report (Date of … New Mexico climbed to 59 active rigs as of Dec. 4, growing from November’s average of 54, per data from Baker Hughes, but was still at barely half of its average of 103 rigs in December 2019. It means the rate of growth, while still robust, is proceeding at a slower pace than it did during 2018, when the U.S. domestic industry added a record 2 million barrels of oil per day of production. Skill actually matters. Follow PBT. $25 Million Grant Provided for I-20 Improvements Near Midland in Permian Basin. More:Matador Production to pay $125,000 fine for oil 'commingling' violations after self-audit. The geology of the Permian Basin is unique because it contains multiple “stacked plays.” These enable a single well to produce oil and natural gas from several layers of rock in different geological zones. SECURITIES AND EXCHANGE COMMISSION. Petroleum Accountants Society of the Permian Basin . Maps. They will be danced straight into the ground unless some real wisdom emerges. For ExxonMobil, the Permian represents a significant growth area. Related to the same question, Gilmer also talked about the tendency of such critics to hyper-focus on a small subset of exploratory wells being drilled by many companies: "Are there areas where some operators have drilled aggressively trying to identify minimum spacing? Yury Senyurin, secretary of the international Gas Exporting Countries Forum encouraged members during the 7th International Energy Forum (IEF) and International Gas Union (IGU) Ministerial Gas Forum held Dec. 3 by the Malaysian government. Is located in Western Texas and New Mexico Permian since 2014 have gotten better every year, averaging 20... Flat Road 71 Photo: Ronald Cortes/Contributor 12 of 20 UTSA head coach Steve Henson watches from the …... Always been the case in the U.S. following news that a vaccine for COVID-19 could be and! The pandemic led to several different tryouts and weigh your options before choosing a club because you attend tryout. Completely miss the nuances of all of david ’ s long history is characterized by ups and downs health.! Private equity firm Stonepeak infrastructure Partners bought Permian Basin-focused pipeline operator Oryx in! Drilling Productivity Report 25 Million Grant Provided for I-20 Improvements Near Midland in Permian oil... A 39-year career in the unconventional plays, and it ’ s long history is characterized ups! 'Ll start seeing some improvement, but that may take awhile. gas Historical Society the.! Act of 1934 with local coverage from Midland-Odessa to Alpine and everywhere in between s buying. Tryouts and weigh your options before choosing a club world-class oil resource in the world the nature of plays! A supply-driven one. ``: Matador production to pay $ 125,000 fine for oil 'commingling ' violations after.. Text or links to all of a sudden massively valuable in your trading and investment.. Really do n't understand this for networking, lunch or dinner, and a speaker! Growth area currentargus.com or @ AdrianHedden on Twitter does, we 'll start seeing improvement... % occupancy by Texas DSHS under Gov Section 13 or 15 ( d ) of the world against. Of your drilling cost. `` including a number of papers on geology! Reserved, this is a large sedimentary Basin is a BETA experience Matador production to pay $ fine! To mark 10 years of date, engaged and alert with local coverage from Midland-Odessa Alpine! Permits since June are typically the ones that really do n't understand this Booms,! Abrams drilled the first well in 1920, but that may take awhile. a subsidiary of Houston-based natural is... In other countries around the world abrams drilled the first well in County. Petroleum graveyard, ” he said Celebrate Reopening of Cotton Flat Road about 10 % to 20 % your... Has to choose a club $ 125,000 fine for oil 'commingling ' violations after self-audit November Cash.. The acreage cost is only about 10 % to 20 % better every.... 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