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News : Latest Permian Basin News ; Deals & Transactions : Permian Basin Mergers & Acquistions; Well Results (updated daily) Frac & Well Designs; Proppant Use From East to West, the play spans 250 miles, and 300 miles from North to South. It’s not buying bird’s nests on the ground, it’s not buying commodities. Average per-well peak rates for the New Mexico Permian since 2014 have gotten better every year, averaging about 20% better every year. Address all purchased requests, subscriptions, news items and inquiries to: Permian Basin Oil and Gas Magazine 500 … The pandemic led to several states and countries enacting travel bans and other business restrictions intended to slow the spread of the virus. DALLAS, Nov. 19, 2020 /PRNewswire/ -- Simmons Bank, as Trustee of the Permian Basin Royalty Trust … We all need the Permian Basin to rollover and decline. Since the first well drilled in the basin in July of 1920, over 30 … That remarkable growth in the Permian and elsewhere has made the U.S. the world’s top oil and natural gas producer, a far-fetched idea just 20 years ago. Chevron “As the world reaches the end of the pandemic tunnel, it will need an energy partner that can help prevent environmental degradation, ensure a stable and uninterrupted supply of energy, and bring affordable and reliable energy for all. Skip to … The basin contains the Mid-Continent Oil Field province. Permian Basin residents can help their favorite charities secure "rewards" ranging from $7,000 to $500 by participating in the Community Rewards program sponsored by City Bank. Over the past eight years, there has been phenomenal production growth in the Permian. Some … Permian Basin. Oil & Gas news: In the Pipeline; High school sports; Archives ; Home; News; Business; Permian Basin Drilling Report Top Story DRILLING REPORT: April 2 through April 8. We are committed to keeping you up to date, engaged and alert with local coverage from Midland-Odessa to Alpine and everywhere in between. 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 . Although many experts considered the region a “petroleum graveyard,” Texon Energy tried again in August 1921. Absolutely," he said. About COPAS and PASPB. 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. I-20 Getting 6 Lanes From 2025-30. © 2020 Forbes Media LLC. August 8, 2020. “I’m confident that with your presence and engagement this 7th IEF-IGU Meeting has delivered meaningful outcomes and that all stakeholders will seize the opportunity that natural gas offers for recovery and shared prosperity,” he said in an address to the attending countries. W.H. More:Permian Basin leading oil and gas' recovery, could be strained by 2nd COVID-19 wave. DrillingInfo has seen these kinds of deals as one of the factors that have led to a boom in what Gilmer refers to as "horse-trading" of acreage between producing companies: "Out there in the Permian, if you can get a 10,000-foot lateral your return will be a 3 to 7 PV10 multiple over what you get on a 5,000-foot lateral. 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. 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. The text or links to all of David’s writings and podcasts can be found at www.dbdailyupdate.com. India’s Minister of Petroleum and Natural Gas Shri Dharmendra Pradhan said demand for fuel in his country had returned to pre-pandemic levels. 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 … More:Matador Production to pay $125,000 fine for oil 'commingling' violations after self-audit. News Sports Opinion Lifestyle High School Obituaries E-Edition Legals. Live Coverage of Texas-Permian Basin Falcons @ UTEP Miners Wednesday, November 25, 2020 on MSN Sports 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. 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.". There are plenty of private investors who understand that these producers are sitting on another Saudi Arabia and have years worth of locations that can be profitably drilled at $20-$30 prices. New York private equity firm Stonepeak Infrastructure Partners bought Permian Basin-focused pipeline operator Oryx Midstream in a $3.6 billion deal in April. The Permian Basin is around 250 miles wide and 300 miles long, across West Texas and southeastern New Mexico. EZ Rider to Receive New Buses. The Permian Basin is responsible for the greatest oil production gains in the U.S. in recent years. City Bank will make available a total of $60,000 to be awarded to 30 local nonprofits to assist them in carrying out their missions of hope and service to people in need. It is often oversimplified and mischaracterized as a singular play with homogeneous geology and stratigraphy. Today, 5,000-foot laterals are kind of break-even deals, but at 10,000-feet they’re all of a sudden massively valuable. Maps. Skill actually matters. I spend a lot of time listening. Energy News; Latest Energy News; Permian basin; Permian Basin. Output at every formation is expected to fall in October, except the Permian basin of Texas and New Mexico, where production is expected to rise by about 23,000 bpd to 4.17 million bpd, the data showed. ABOUT US. David has enjoyed a 39-year career in the oil and gas industry, the last 23 years of which were spent in the public policy arena, managing regulatory and legislative issues for various companies, including Burlington Resources, Shell, El Paso Corporation, FTI Consulting and LINN Energy. 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 They completely miss the nuances of all of these variables and the non-linear aspects in all of this. News. Permian Basin Royalty Trust Nov 19, 2020, 09:30 ET. Adrian Hedden . It remains the premiere world-class oil resource in the Western Hemisphere. … View Comments. Past Presidents. Share this article. But as I also noted, that does not mean that, as some in the energy-related media are claiming, that the most active drilling basin in the world is "dying," "on its last legs," or even "peaking.". CURRENT REPORT. The all time high for this statistics is 11. 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. It reviews an important two-volume set including a number of papers on the geology of Permian Basin. The Permian Basin’s long history is characterized by ups and downs. It spudded a well in Reagan County, near Big Lake, Texas. Permian Basin Information, Railroad Commission of Texas. SECURITIES AND EXCHANGE COMMISSION. The sad fact is that the public companies have to dance to these loud voices. The reality is that if you’re going to have 20, 30-something wells within a two-section unit on multiple producing horizons, that’s why it didn’t really matter what you’re paying for acreage. Permian Basin Royalty Trust Announces November Cash Distribution. He is currently Associate Editor for Shale Magazine (www.shalemag.com), a contributor on energy-related matters at Forbes.com, and a feature writer for World Oil Magazine. The Permian Basin is one of the oldest and most well-known hydrocarbon-producing areas. Society Information. Monthly meetings are held and include time for networking, lunch or dinner, and a guest speaker. Date of Report (Date of … According to an analyst, The Gray Oak Pipeline could help alleviate a crude oil transportation bottleneck in the Permian Basin … Reuters . Because the acreage cost is only about 10% to 20% of your drilling cost.". The Permian Basin is a large sedimentary basin in the southwestern part of the United States. In a $ 3.6 billion deal in April when it does, we 'll start seeing some improvement but... Anadarko 's weak performance in U.S. Permian made it a takeover target UTSA vs. UT Permian Basin n't... 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Near Big Lake, Texas years of Parsley energy is about to mark 10 years of Permian since 2014 gotten. Have gotten better every year, averaging about 20 % of your drilling cost. `` by Elite. Gas is that partner, ” he wrote awhile. day, show... Nests on the geology of Permian Basin, American oil & gas Society!
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