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Tag Archives: Permian Basin

Target Logistics contracted for Permian work lodge

A new major project is underway in West Texas for workforce housing firm Target Logistics. Earlier today, the company announced that construction will begin immediately on a housing facility for “one of the world’s largest” oil and gas exploration and production companies. The announcement did not specifically name the company, but said occupancy should be available by early 2016. “We ...

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Downturn brings spike in oilfield crime

The crew from Liberty Fishing and Rental Tools returned to a well near Snyder last week and noticed they’d been hit. The tires had been stolen off a trailer they use to for their work freeing equipment stuck in a wellbore. President and co-owner Monnie Sparkman said the tires would cost about $1,500 to replace — “not that big of ...

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Black gold keeps black days away

The recent steady drop in crude oil prices might be the first sign of the end of New Mexico’s seven-year oil boom, meaning New Mexico’s economy could soon face challenges. One of the most prolific oil and gas regions in the United States, the Permian Basin is also one of the largest. It stretches about 250 miles wide and 300 ...

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Black gold keeps black days away

The recent steady drop in crude oil prices might be the first sign of the end of New Mexico’s seven-year oil boom, meaning New Mexico’s economy could soon face challenges. One of the most prolific oil and gas regions in the United States, the Permian Basin is also one of the largest. It stretches about 250 miles wide and 300 ...

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Permian Basin dominates rig counts

Despite being halved in the past year, the Permian Basin’s rig count heads the upswing with more rigs than any other US region. It’s been a rough year for rig counts in every shale play across the country, and the Permian Basin has been no exception. In the past 12 months, capped August 7 2015, the Basin suffered a loss ...

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COLUMN-U.S. shale firms slide deep into the red on low oil prices: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – North America’s leading independent oil and gas producers reported large losses in the second quarter despite cutting costs and increasing output. Ten of the largest independent oil and gas producers in the United States reported total losses of almost $15 billion between April and June, compared ...

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Pioneer Natural Resources to ramp up drilling despite loss

Pioneer Natural Resources says it will ramp up its drilling program in the Permian Basin oil fields despite reporting a second quarter loss. The Irving-based energy company reported a second quarter net loss of $218 million, or $1.46 per diluted share. Without adjustments for noncash derivatives and other unusual items, income for the second quarter was $15 million after taxes, ...

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Top 5 Stories of the Week

Here were the top five stories for the week of July 25-31. Thank you for reading and have a great weekend. 5. Drilling picks up in Basin Six months ago, 24-year-old Matt Soto stared at a white board and worried how long he would keep his job at Schlumberger. Soto escaped layoffs in the past six months and said things ...

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