Tag: permian basin

More than 500 rigs may shut down as oil slides, analysts say

Rigs could begin to see less work starting early next year, following a 40 percent drop in the number of new U.S. drilling permits issued from October to November.  More »

EIA: US production to increase 115K barrels in January

Next month’s total will be nearly 2,000 bpd more than December’s rise.  More »

Production up, but methane emissions down in Permian Basin

Even though energy companies are pulling more oil out of the Permian Basin, methane emissions have been declining in the West Texas drilling hotbed.  More »

Apache to cut North American spending

Apache will cut its North American spending from $5.4 billion to $4 billion, the company told analysts at a presentation in New York, but it said it will be able to spend that money more efficiently.  More »

Grand jury indicts Monahans man for alleged oil theft

If convicted of the three charges, a Monahans man faces up to 20 years in federal prison  More »

U.S. drillers shift oil rigs to tap most reliable fields

The oil-rig count has fallen from a peak of 1,609 on Oct. 10 as companies slow drilling in response to a 26 percent slide in crude prices over the past four months.  More »

New Mexico county passes strict drilling rules as state judge considers wider ban

The new ordinance supersedes a moratorium on oil and gas development that had been in place since 2010.  More »

Plains to buy half of BridgeTex in $1.1 billion deal

The pipeline is a major artery for the basin with a capacity of 300,000 barrels per day of crude.  More »

Texas leads nation in oil field job growth

The resurgence in domestic drilling made possible by new techniques like hydraulic fracturing and horizontal drilling has created thousands of new jobs since the recession, and nowhere is that more evident than the Lone Star State.  More »

EOG profit doubles on low-cost wells even as oil price falls

CEO William Thomas boosted EOG’s growth target for oil even in the face of a market slump  More »

McClendon’s West Texas venture plans Wall Street debut

Wildcatter Aubrey McClendon’s oil and gas startup in West Texas may be the latest venture in the Permian Basin to beckon for Wall Street investors, sitting astride one of the most lucrative U.S. shale plays.  More »

Chevron’s profits climb 13 percent thanks to refining boost

The second-largest U.S. oil company also benefited from selling off some some of its assets as part of three-year divestment program.  More »

Anadarko CEO: Lower oil prices could bring more acquisitions

A decline in oil prices may offer up discounts for key acquisitions in Colorado and elsewhere, Anadarko CEO Al Walker said.  More »

Anadarko-affiliated partnership to pay $1.5 billion for Permian midstream company

Western Gas Partners, a partnership formed by Anadarko, will pay $1.5 billion cash for Nuevo Midstream, a Houston-based  midstream company focused on gathering, processing and moving oil and gas from the Permian Basin.  More »

Occidental profits fall 24 percent amid deflating crude prices

Occidental Petroluem said domestic oil production costs rose in the third quarter.  More »
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