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Tag Archives: cold stacking

Top 5 Permian Basin stories of the week

Texas longhorn bulls

5. Theft, other charges filed Five people in Laredo, Texas were arrested for allegedly stealing $500,000 worth of oilfield equipment from companies operating in the Eagle Ford Shale.  To read the full story, click here.     4. Sinking oil prices point way to ‘cyclical contraction’ While the Permian Basin has witnessed crude oil prices slide since this summer, the ...

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And it begins–rig stacking

oil rig

With oil prices still decreasing, companies in the Permian Basin have begun the process of cold stacking their rigs. The term “rig stacking” consists of two different methods.  “Cold stacking,” means the releasing or stopped drilling of a rig.  “Warm stacking,” refers to temporarily take a rig off the market.  During “warm stacking” rigs still maintain basic operations and are ...

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