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Tag Archives: Permian Basin

Permian’s biggest does more with less

A pump jack which produces oil from the Permian Basin in Artesia, New Mexico, is seen in this undated handout photo provided by Devon. REUTERS/Devon Energy/Handout via NewsCred

Executives of Occidental Petroleum Corp., on Thursday reported finding savings by extracting more oil for less money and reinvesting that money in the Permian Basin, where the company is the biggest oil producer in the region. Oxy, as the company is known, saved about $450 million by cutting costs during the first half of the year, and it channeled that ...

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West Texas won’t tolerate illegal dumping anymore

Illegal dumping from both individuals and energy companies have bogged down the Permian Basin for years now. County officials have noticed an upswing in illegally dumped waste including cars, tires, yard waste and oil and gas by-products, but NineWest reports that it won’t be tolerated for much longer. “There are some individuals and some companies as in any business, that ...

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Inspectorate opens Basin facility

A new oil and gas service facility opened in the Midland-Odessa area earlier this week. Inspectorate, a multinational inspection, sampling and testing services group, announced Tuesday that it will now provide services to the Permian Basin including sampling and gauging, terminal inventories, key point crude testing and water-draws. Inspectorate’s team is also trained and equipped to package and ship samples ...

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Weatherford announces cuts to workforce

Weatherford executives on Thursday announced plans to further cut costs and lay off another 1,000 employees after shedding 10,000 workers earlier this year. The company will also close 30 more facilities this year in addition to 60 closed across North America in the first half of 2015. Weatherford officials did not specify the regions where those cuts would happen, leaving ...

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Eddy County dominates NM Energy

Who’s top dog for energy in the Permian Basin? According to a study from the Carlsbad Department of Development, New Mexico’s Eddy County tops the charts for both oil and gas production throughout the Basin. “We always were aware that our natural gas production regularly outpaced all of the other 28 counties in the Permian Basin,” the Department’s Director John ...

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Low prices threaten to curb rising rig count

Permian Basin producers added another three rigs in the week ending Friday, according to the widely-watched Baker Hughes rig count. But observers met the ongoing uptick in drilling activity with concern that it might be short-lived, after another dip in oil prices in July threatened to erase the gains of the previous months. The latest build in Permian rigs left ...

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