Conventional plays are different – it didn’t matter who drilled the East Texas field first, whether it was Dad Joiner or Humble Oil, because conventional plays treated everyone the same. Thousands of oil workers are getting laid off in the Permian Basin Coronavirus, combined with an oil price war, is taking its toll on the nation’s prolific shale patch . Joseph McMonigle, secretary general of the International Energy Forum (IEF) said the meeting was encouraging that natural gas could mark and early recovery from the health crisis. The 625-mile line would have transported natural gas from Texas’ Waha Hub, where natural gas is sent from across the Permian Basin in West Texas and southeast … HIGH SCHOOL SPORTS: Permian Basin Scoreboard for Nov. 21 OA sports oasports@oaoa.com 432-333-7703 Odessa American Posted on Nov 21, 2020 by OA sports Carlsbad Current-Argus. Permian Basin Royalty Trust Announces November Cash Distribution. Chesapeake Energy CHK - Permian Basin Unconventional Liquids Plays (West Texas and southern New Mexico): Chesapeake has built a strong position of approximately 670,000 net acres of leasehold in four Permian Basin unconventional liquids plays: the Avalon Shale, Bone Spring, Wolfcamp and Spraberry in West Texas and in southern New Mexico. Adrian Hedden . The geology of the Permian Basin is unique because it contains multiple “stacked plays.” These enable a single well to produce oil and natural gas from several layers of rock in different geological zones. Washington, D.C. 20549 . More: Joe Biden's election as President sparks concerns for New Mexico's oil and gas industry Lowell Waite recently published a book review in the journal International Geology Review, entitled “Anatomy of a Paleozoic basin: the Permian Basin, USA, Volumes 1 and 2. For ExxonMobil, the Permian represents a significant growth area. More:Matador Production to pay $125,000 fine for oil 'commingling' violations after self-audit. You may opt-out by. Future Gulf Coast natural gas export development may become “risky” if Permian Basin associated gas production doesn’t recover, IHS Markit executive . Three Decades after Oil Bust, Permian Basin Booms Again, San Antionio Express-News. Get custom notifications on traffic, crime and events happening in your area. Anadarko's weak performance in U.S. Permian made it a takeover target Deposits of the Permian Basin are featured in Guadalupe Mountains National Park. All Rights Reserved, This is a BETA experience. Reuters. Permian Basin. But it’s really all about this horse-trading to be able to go out there and trade acreage in two-, three-, and four-way trades to become capable of having high-grade locations that are valuable enough to drill in a world where oil prices are so volatile.". The industry saw some minor recovery in recent weeks amid reports that a COVID-19 vaccine could be developed and publicly available by spring 2021, but the news wasn’t enough to drive prices near pre-pandemic levels. SECURITIES AND EXCHANGE COMMISSION. I spend a lot of time listening. “I’m happy to mention that the energy demand in India, particularly of the petroleum products and natural gas, has returned to pre-Covid-19 level,” he said at the meeting. “PGAP continues to believe that in time the proposed Project will provide significant benefits,” he wrote. Absolutely," he said. Since the first well drilled in the basin in July of 1920, over 30 … It’s funny to me – I’ve had talks with several of these analysts in which they poo-poohed the technology that goes into drilling the wells, claiming it was just a question of how much sand you put in there and how long your lateral is. Maps. - Allen Gilmer, Founder and Chairman of the Board of DrillingInfo, As I wrote in my piece last week, there is no doubt that activity in the booming Permian Basin is slowing down, and in fact has been gradually slowing throughout this year. This resulted in slumping oil and gas prices as consumers across the world used less fuel during the global health crisis. When it does, we'll start seeing some improvement, but that may take awhile." $25 Million Grant Provided for I-20 Improvements Near Midland in Permian Basin. UTSA vs. UT Permian Basin Friday Nov. 27, 2020. Permian Basin mandated back to 50% occupancy by Texas DSHS under Gov. Over the past eight years, there has been phenomenal production growth in the Permian. Chevron He said the company could resume the project in the future if the market recovers, and the company would hold an open season to re-solicit shipping commitments from producers. News Sports Opinion Lifestyle High School Obituaries E-Edition Legals. The all time high for this statistics is 11. We are your go-to source for local news, weather and sports in the Permian Basin, powered by Big 2 News - KMID and Fox 24 News - KPEJ. Permian Basin Royalty News . 20 Nov 2019 11:16 PM | Meghan Silva (Administrator) The PBAP is proud to share that we raised over $40,000 in scholarship money for Midland College, Odessa College, and UT Permian Basin students, community improvement initiatives, and law enforcement and first responders support. in accounting in 1979. A mature ‘super basin’ located in Texas and New Mexico has set a new oil-production record, beating its previous peak set in 1973. Oil & Gas news: In the Pipeline; High school sports; Archives ; Home; News; Business; Permian Basin Drilling Report Top Story DRILLING REPORT: April … June 23, 2020: Book review published. Midland City and County Officials Celebrate Reopening of Cotton Flat Road. What we’re seeing is that [Permian Basin] wells drilled this year are continuing the trend of being better than they were the year before, across the whole Permian – the New Mexico Permian and the Texas Permian. The sad fact is that the public companies have to dance to these loud voices. CURRENT REPORT. October 31, 2020. © 2020 www.currentargus.com. FORM 8-K . September 11, 2020. Matador Production to pay $125,000 fine for oil 'commingling' violations after self-audit, Permian Basin leading oil and gas' recovery, could be strained by 2nd COVID-19 wave, Here are the 7 oil and gas operators being sued by the New Mexico State Land Office, U.S. Sen. Tom Udall continues push for oil and gas leasing reform, BLM: Oil and gas land sale moves forward in New Mexico amid calls to ban federal leasing, Thriving coronavirus, ailing oil industry leave Carlsbad residents struggling, New Mexico oil and gas operators report millions of gallons of water use, New Mexico State Land Office cracking down state land misuse by oil and gas, others, Your California Privacy Rights / Privacy Policy. Anadarko Reuters . Permian Basin Royalty Trust (NYSE PBT) News Headlines Today. ABOUT US. In a Dec. 1 letter to FERC, President of Permian Global Access Pipeline LLC (PGAP) Joey Mahmoud wrote that the present market conditions meant the project was not financially viable. Energy News; Latest Energy News; Permian basin; Permian Basin. Oil and gas rigs continued to climb in the U.S. following news that a vaccine for COVID-19 could be developed and available next year. 3.32-0.01 (-0.3%) Upgrade to Real-Time Afterhours (Closed) Current Report Filing (8-k) November 19 2020 - 12:20PM Edgar (US Regulatory) UNITED STATES. More:Here are the 7 oil and gas operators being sued by the New Mexico State Land Office. The Permian Basin – spanning west Texas and southeast New Mexico – has become the most prolific oil field in the world. During this time, David has led numerous industry-wide efforts to address a variety of issues at the local, state and federal level, and from April 2010 through June 2012, he served as the Texas State Lead for America’s Natural Gas Alliance. To put some more meat onto the bone of that thesis, I was able to secure some time with Allen Gilmer, whose company, DrillingInfo, keeps close tabs on everything happening in the Permian and the country's other major play areas. Career Opportunities . But hasn’t that always been the case everywhere? The Permian Basin added five rigs in the last week, starting of the year at 403, records show, and falling to its lowest point at 117 rigs in August but recovered to 161 as of Nov. 25. We all need the Permian Basin to rollover and decline. Follow PBT. We are committed to keeping you up to date, engaged and alert with local coverage from Midland-Odessa to Alpine and everywhere in between. A natural gas pipeline that would have connected producers in the Permian Basin with export and refinery markets in the Gulf Coast was halted as the fossil fuel industry struggles amid the COVID-19 pandemic. Parsley is seeking permission from the […] Permian Region Drilling Productivity Report. Austin oil company Parsley Energy is doubling down on drilling in the Permian Basin of West Texas. I pointed out that that was one of the big drivers behind the April/May battle between Oxy and The Federal Energy Regulatory Commission (FERC) first approved the request to begin the application process in September 2019, but more than a year later as energy markets struggled to recovery from the pandemic, the application to FERC was withdrawn. Read the latest oil and gas news … Monthly meetings are held and include time for networking, lunch or dinner, and a guest speaker. Opinions expressed by Forbes Contributors are their own. The market for natural gas and other energy sources could be improving in other countries around the world as the pandemic wanes. The Permian Basin is not uniform, with deeper zones of sedimentary rock forming the Midland and Delaware Basins and the shallower Central Basin Platform forming a bridge between whose prehistoric reefs were ideal for trapping large oil deposits. The Gray Oak Pipeline stretches from the Permian Basin to delivery points at or near the Houston Ship Channel and capable for crude deliveries of 900,000 barrel per day. Do these fundamental misconceptions about the nature of shale plays help explain why operators are finding their access to capital markets increasingly restricted? The loudest are typically the ones that really don't understand this. UTSA 97 UTPB 71 Photo: Ronald Cortes/Contributor 12 of 20 UTSA head coach Steve Henson watches from the sidelines. They miss the fact that there are operators that can make a lot of money on drilling the same well another operator can’t. Permian Basin Royalty Trust Nov 19, 2020, 09:30 ET. Ban federal leasing of 1934 it encompasses several sub-basins, including the Basin! A significant growth area day, records show, crime and events happening in your and. Are featured in Guadalupe Mountains National Park Basin is n't a lack of resources or capacity. 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