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Permian sees 7.6 drop in Petroleum Index

Dwindling commodity prices and rigs counts drove the Permian Basin’s index down 7.6 points between March and April, the Midland Reporter-Telegram reports. This new low is 5.6 percent down from April 2014 levels. “As long as we’ve been in this price decline—the price peaked in June and began its decline in July—we’re still fairly early on in this cycle,” said ...

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Permian plan B: Survive to Thrive

With the first well drilled in 1925, the Permian Basin began its love-hate relationship with the oil and gas industry. It has since become what we are known for. It’s our livelihood. It’s who we are. It is the proverbial roller coaster we live to ride. Over the last 5 years, the United States has experienced a revolution in hydraulic ...

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Oil field job cuts cross 150,000

Oilworker

Job slashing from the oil bust reached a staggering 150,000 at the end of May, according to energy recruiting firm Swift Worldwide Resources. In a recent Fuel Fix publication, Swift elaborated that when compared globally, the United States has seen the “the fastest and steepest decline.” Layoffs have slowed dramatically as oil prices have just begun to regain some footing ...

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MidStar Energy exec charged with assault on gay couple

arrested

Houston police have charged Anthony J. Fera with misdemeanor assault with injury after the MidStar Energy President knocked a man unconscious in April, the Austin American-Statesman reports. According to the arrest warrant, an argument erupted after Fera, 51, nearly struck William Smith and his husband Paul Von Wupperfield with his truck while pulling out of a parking lot. Smith yelled ...

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Evacuations but no injuries after pipeline ruptures in Texas

CUERO, Texas (AP) — Authorities say no one is injured after a natural gas pipeline ruptured in rural South Texas, sparking a massive fire that prompted the evacuation of nearby homes. DeWitt County Emergency Operations Center spokeswoman Peggy Fonseca says an Energy Transfer Partners pipeline ruptured near Lindenau around 8 p.m. Sunday. Fonseca said early Monday that the gas had ...

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Stabilizing oil prices good for consumers

New Mexico drivers may save more at the gas pump this winter due to stabilizing prices of crude oil, according to an analyst at GasBuddy.com. “I think we’re at our peak right now,” said Will Speer, senior petroleum analyst with GasBuddy “(Gas prices) were on a steady increase until the end of May where we started to level off at ...

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Permian Basin Drilling Report: Week of June 4-10

Permit applications approved by the Texas Railroad Commission for June 4 through June 10 for Districts 7C, 8 and 8A. Numbers in parentheses indicate the number of permits approved for that leasehold. — Anadarko E&P Onshore, LLC, University 20-6, Loving, new drill. — Apache Corporation, Falcon State Unit, Loving, new drill. — Approach Operating, LLC, Pangea West, Crockett, new drill. ...

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