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Tag Archives: Permian Basin

Pioneer says increasing drilling activity as planned

oil rig

July 8 (Reuters) – U.S. shale exploration and production company Pioneer Natural Resources Co said on Wednesday it is increasing drilling activity in Texas following the sale of its stake in an Eagle Ford shale pipeline and processing business. The Dallas company’s optimism stands out in a market unnerved by a 15 percent drop in crude prices since late June. ...

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PERMIAN BASIN DRILLING REPORT: Week of June 25 through July 1

pumpjack

Permit applications approved by the Texas Railroad Commission for June 25 through July 1 for Districts 7C, 8 and 8A. Numbers in parentheses indicate the number of permits approved for that leasehold. — A.C.T. Operating Company, Benson (JD), Cochran, new drill. — Anadarko E&P Onshore, LLC, Walking O C3-28, Reeves, new drill; Hoover, Laura Estate 41C, Crockett, recompletion; Hutchings 43, ...

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Big Spring Refinery eyes expansion

Cheap and abundant crude continues to prove a boon to the Alon’s Big Spring Refinery, the chief supplier of gasoline to the Odessa and Midland market, that now considers expanding. Gasoline prices are expected to drop in the coming months. But those low gas prices are more a result of refinery output levels throughout the country rather than because of ...

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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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EIA report: Permian to follow trending production cuts

Although the U.S. shale revolution has maintained impressive momentum over the course of the last year, depressed oil prices have taken their toll. The Energy Information Administration released its monthly drilling productivity report this week, and it has confirmed what many industry experts saw coming. With the exception of the Permian Basin, the U.S. has seen a drop in oil ...

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