Permian basin oil news today

brings together people from every phase of the petroleum industry. And in just three years, oil production in the Permian has doubled to the highest levels seen in the 1980s. 7, 2018, 7:47 p. SOURCE Permian Basin Royalty Trust. The Permian Basin has long been touted as the fastest growing shale play in the United States, but now its oil-producing prowess is being highlighted again as the Energy Information Administration Exxon Mobil Corp. A rush to pump oil out of the West Texas shale field has vaulted the United States to record New Mexico is riding another record year in oil production, fueled by an industry stampede to pump crude in the Permian Basin. 2 billion to the State of Texas. 2 billion barrels. The Permian Basin covers approximately 86,000 square miles and encompasses 52 counties in New Mexico and Texas. Geological Survey with new estimates for natural gas and oil in the Permian basin that show the assessments for technically recoverable resources have increased over the past decade. An oil rig and pump jack in Midland, Texas, pump oil from the Today. ” In 2011, Chevron produced its 5 billionth barrel from the Permian, and today we are among the largest producers of oil and natural gas in the basin. Production in the Permian Basin reached about two million barrels per day in the early 1970s, declined to 850,000 barrels per day in 2007, but has since rebounded to 1. I was there last week and saw the boom firsthand. To support the agreement, and Bull’s eye on US’ Permian Basin as oil prices rise National News. Oil Gains as U. 6, 2017, and originally published July 16, 2016. Oil News News Today’s the day for oil show Permian Basin oil production hit an all-time record high this year with drillers expecting a further boost in activity in 2018 as prices inch Publisher Grant Moise explains the changes that start today at The Dallas Morning News. Oil production in the Permian Basin, already a major force in global supply growth, will rise nearly 3 mbd by 2023—a level of growth exceeding most recent estimates, a new outlook by business Texas Permian Basin land prices have skyrocketed by 50 times from 4 years ago and production there is poised to soar, throwing a wrench in OPEC's efforts to mop up the supply glut keeping oil Home. Spotlight. com The Permian Basin is one of the oldest and most widely recognized oil and gas producing regions in the U. In spite of recent oil price declines, the longer view appears more favorable. Founded in 1961, the PBPA is the largest regional oil and natural gas association in the United States. Permian Basin Royalty Trust It holds interests in Texas Royalty and Waddell Ranch properties. The announcement of the Permian Strategic Partnership is scheduled to appear in op-ed pieces today in four area newspapers, including the Hobbs-News-Sun on Page 4. Directed by an experienced management team and knowledgeable field supervisors with over 75 years of combined experience, the Titan team strives to exceed the high expectations of customers. Construction begins on $600 million West Texas wind farm Dec 19, 2018 Crude oil is trading at about $40 a barrel in the western Texas region that sits atop most of the Permian Basin, the epicenter of the U. Oil companies looking for the next big find are wading into the Powder River Basin of Wyoming, where pipelines are not congested and land is cheaper than in Texas’ Permian Basin, the world’s fastest-growing oil producing region, Reuters reported. 033628 per unit, payable on February 14, 2019, to unit holders of record on January 31, 2019. August 17, 2017. Permian Basin bottleneck: Natural gas pipeline to be converted to carry crude oil Filed under Energy at Oct 5 Membership/Sponsorship is also open to academia from the Permian Basin and surrounding local colleges and universities who have an interest in preparing students for careers in the oil and gas industries. com is the definitive way to get the latest news, weather, and sports from the Permian Basin powered by KMID and KPEJ. Oil & Gas Jobs which would be about 20 percent of today’s overall production. The Permian Basin of west Texas and southeast New Mexico is one of the most prolific oil and gas producing regions While there are a number of companies exploring the vast resources trapped in the lucrative oil-rich Permian basin, this article highlights five players that investors should focus on. I think it's going to spread from the Permian Basin to other areas around the U Concho Resources Inc. The terminal is located in the rapidly growing Delaware Basin, part of Permian Basin – one of the most prolific plays in the United States This article was updated on Aug. Figure 5. The Permian Basin has long been touted as the fastest growing shale play in the United States, but now its oil-producing prowess is being highlighted again as the Energy Information Administration The History of Permian Basin Oil Monday, August 22nd, 2016 and is filed under Oil and Gas Interesting Facts , Permian Basin Oil News Used in everything from automotive fuel to manufactured home goods, oil has long played a significant role in the American lifestyle. Windy with occasional snow showers. 033628 per unit, payable on The Permian Basin in West Texas and eastern New Mexico has been producing oil since the 1920s. The Permian Basin is home to much of the oil production in the state of Texas today, and it is for this reason the roads and highways around Midland and Odessa have become more dangerous. The EIA says the Permian will keep pumping and Gulf of Mexico wells will continue to come on line next year. Location: The Green River Basin Oil Shale Field is located in Wyoming, Utah, and Colorado which extends on the Western side of the rocky Mountains. Any person involved in the gas processing industry is welcome to join the Permian Basin Chapter. 7 billion in Noble Energy stock and cash. IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) said today it will more than double its Permian Basin resource to 6 billion barrels of oil equivalent through the acquisition of companies owned by the Bass family of Fort Worth, Texas, with an estimated resource of 3. Construction begins on $600 million West Texas wind farm Permianshale. Today the Permian Basin oil fields produce 17% of total US crude oil and account for over 66% of total Texas oil production. The Permian Basin is one of the oldest and most widely recognized oil and gas producing regions in the U. Stock Market News. HOUSTON--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) announced today that it has acquired a crude oil terminal in Wink, Texas from Genesis Energy LP. 2. When it comes to solid foundation assets, Pioneer's West Texas Spraberry field, with its long-lived oil and gas reserves, stable production and low maintenance capital cost, consistently delivers steady production growth. Today's Birthdays. The country is going to be a dominant force not just in crude, but also natural gas and petrochemicals. Published on the 5th of each month. Pioneer Resources is well positioned in the Permian Basin. News > Business Bull’s eye on Permian Basin on New Mexico-Texas border as oil prices rise. DALLAS, Jan. Covering Permian shale formations, oil reserves, geology, Dec 9, 2018 “In the 1980's, during my time in the petroleum industry, the Permian and similar Today, thanks to advances in technology, the Permian Basin Dec 27, 2018 Industry officials in New Mexico say billions of dollars of investment by Permian Basin oil production slowly crept back up to one million BPD Permianshale. S. The latest oil & gas news, commodity prices, drilling activity, property listings, M&A database for the oil and gas industry in Canada and the United States. 4 billion barrels of oil equivalent in New Mexico’s Delaware Bas2/12/2017 · Today, at around 2 million b/d, the Permian accounts for over 20% of the country’s crude production and is the second largest oil field in the world, after Saudi Arabia's legendary Ghawar field. Oil companies started the new year with announcements of about $9 billion more in Permian land deals, including a $6. Railcars full of sand have helped producers unlock record amounts of crude in the Permian Santa Rita taps Permian Basin . oil producers in the prolific Permian Basin of West Texas and New Mexico have pushed the nation’s crude output to a record 10. Today there are over 400 drilling rigs drilling for oil and gas in the Permian Basin. 1, the growth in the CO 2 EOR market in the Permian Basin over the period 1985 to 2004 was slow; hampered by oil price crashes (in 1986 and 1998), uncertainties associated with future oil prices, and the lack of widespread operator knowledge of and comfort with CO 2 EOR technologies. 2 million net acres (8,903 sq km), Chevron is one of the Permian Basin’s largest net acreage holders. Panelists for this webcast, “Drilling & Completion in the Permian Basin Today”, are: With more barrels of oil being pumped monthly from the Permian Basin, New Mexico is among the nation's top producing states. The company was formed after he sold the first iteration of the company and its Delaware Basin holdings. About PBIOS. oil output. Jim Reilly, USGS Director. The USGS estimated that 20bn barrels of oil was contained within layers of shale there. American Business Conferences' flagship completions congress returns to Houston this July with a "Decision-Making' & "Lessons Learned' focus, and an agenda packed with completions engineering best practices to develop a better well, improve economics, manage costs as much as possible, increase SRV and improve well efficiency Permit applications approved by the Texas Railroad Commission for June 14 through June 20 for Districts 7C, 8 and 8A. The Permian shale play is all about setting records. Read Today's eNewspaper San Antonio pipeline company Epic Midstream Holdings remains on schedule to begin moving crude oil from West Texas' Permian Basin to the Port of Corpus Christi by this New Mexico is riding another record year in oil production, fueled by an industry stampede to pump crude in the Permian Basin. "We are pleased to close this transformative acquisition and look forward to welcoming the Athlon team into In recent weeks, more than 750 Mb/d of new crude oil pipeline capacity out of the Permian Basin has been announced, and more project plans are likely. Titan Petro Services serves the oil and gas industry throughout the Permian Basin and the surrounding West Texas Region. S. Today we continue our Piranha! series on upstream spending in the oil and natural gas sector, this time zeroing in on E&Ps that focus on crude. 01/15 Permian Basin – A Target Rich Environment. The terminal is located in the rapidly growing Delaware Basin, part of Permian Basin …This article was updated on Aug. The 2017 production milestone does not just crawl past the previous 1973 peak, but eclipses the 44-year-old previous production record by more than 25 million barrels, IHS Markit said. Brittany Sowacke Bloomberg News The Permian Basin International Oil Show is a three-day gathering of producers, service companies, investors and innovators, where ideas are exchanged, friendships are made and deals are born. despite low oil prices. In a Bloomberg Intelligence briefing today, Bloomberg’s analysts outlined the current economics of Permian wells, examining how the country’s most popular basin will handle changing oil prices 4/19/2018 · The Permian Basin in West Texas is easily our largest oil field and is the second largest gas field. Pad drilling is a logical step in oil and gas development, but does have an impact to production and cash flow timing due to its impact on spud-to-sale times. IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) said today it will more than double its Permian Basin resource to 6 billion barrels of oil equivalent through the acquisition of companies owned by the Bass family of Fort Worth, Texas, with an estimated resource of 3. surpass Saudi Arabia’s 5-million-barrel-per-day Ghawar oil field, the Permian is Oil, petroleum and energy industry news from the Midland Reporter-Telegram and Fuel Permian shale oil boom holds good and bad news for OPEC Anadarko Basin emerging as top onshore play News that will impact the freight industry, from technology, to regulatory changes, to economic developments. As the nation’s largest source of oil and natural gas, the Permian Basin is the reason the U. 4%, and ConocoPhillips stock eased 1. Permian Basin - News, Operators, Geology, Maps, Companies Shaleexperts. Estimated proven reserves are 4. The Permian Basin is an oil and gas play that stretches from West Texas into southeastern New Mexico. A race to grab land in the Permian has been the main driver of a surge of deals in the energy patch and the industry’s main source of good news. Big oil discoveries in shale formations have made the Permian Basin in West Texas the hottest oil play in the U. Oil producers in the Permian Basin have started selling a new stream of light crude, said Nov 28, 2018 USGS Identifies Largest Continuous Oil and Gas Resource Potential Ever Today, thanks to advances in technology, the Permian Basin 19 Dec 2018 Crude oil is trading at about $40 a barrel in the western Texas region that sits atop most of the Permian Basin, the epicenter of the U. For definitions of terms and explanations of methodology, please reference the 7/1/2018 · This report updates with 2018 Q1 results my initial report on the US shale Permian Basin – Delaware Basin E&Ps. told The Associated Press that with the news of more resources in the Permian comes greater Today, 3. Permianshale. Peak Oil Production at Permian Basin? By Nick Cunningham About the Permian Basin Petroleum Association. Pioneer Resources is well positioned in the Permian Basin. There has been much news in the energy industry about the deficit in capacity from pipelines shipping crude oil out of the Permian Basin in West Texas. IHS Markit expects “stunning” growth in oil pumped from West Texas and bound for countries around the world. Image: Pioneer Natural Resources. The Permian Basin alone has nearly 500. 8%, Chevron stock slipped 2. 6 billion barrels of natural gas liquids, according to an assessment by the U. 3. Subscribe to recieve Oil & Gas Journal or sign up for a free email newsletter today and receive the latest information on:. PBOG, as it’s known to those of us who work with it daily, brings relevant stories and timely information to the folks in the oil and gas industry. crude oil production. 3/20/2017 · Texas Permian Basin land prices have skyrocketed by 50 times from 4 years ago and production there is poised to soar, throwing a wrench in OPEC's efforts to mop up the supply glut keeping oil Home. Apache Corporation (NYSE, NASDAQ: APA) and Noble Energy (NYSE:NBL) have committed to anchor the EPIC Crude Oil Pipeline, which will have an initial total capacity of 590 thousand barrels of oil per day (MBbl/d), including 440 MBbl/d from the Permian Basin and 150 MBbl/d from the Eagle Ford. The Permian Basin will keep growing production over the next several years. org. 16 it plans to acquire Clayton Williams Energy for $2. Every even-numbered year, the Permian Basin International Oil Show, Inc. Today, just 120 . The Permian Basin may be somewhat immune to soft oil prices, economists say. Permian Basin Witnesses More Oil Drilling Rigs. Today, thanks to advances in technology, the Permian Basin continues to impress in terms of resource potential. The state is home to the Permian Basin, the nation's leading oil-producing So despite low prices and a plummeting number of rigs working the Permian Basin, as of April oil production was still rising. com Interior Secretary and oil and gas advocate Ryan Zinke said the news is “The Permian Basin has now become the crown jewel of the world’s oil and gas industry,” said Scott Sheffield, the executive chairman of Pioneer Natural Resources, a large producer in the area. As illustrated in Fig. Today, Lilis faces other challenges as it tries to operate in the crowded Permian, where companies are producing more oil than they can pipe out, oilfield workers are in increasingly short supply Apache Corporation (NYSE, NASDAQ: APA) and Noble Energy (NYSE:NBL) have committed to anchor the EPIC Crude Oil Pipeline, which will have an initial total capacity of 590 thousand barrels of oil per day (MBbl/d), including 440 MBbl/d from the Permian Basin and 150 MBbl/d from the Eagle Ford. is projected to become the global energy leader before the end of the decade. Drilling by U. Santa Rita’s walking beam today stands near the campus library. Get the American Energy News today Direct to your As the nation’s largest source of oil and natural gas, the Permian Basin is the reason the U. onshore areas may no longer be viable to exploit at today’s oil Report / Permian Basin / NGI All News Access Permian Best-in-Class at Today’s Oil Price, Says Raymond James Stock Market News. As previously mentioned, the birth of the worldwide CO 2 EOR industry occurred in the Permian Basin with two large-scale The Permian Basin continues to attract more capital—no surprise there—but capex in the Bakken is also on the rise after a few lean years. Welcome to my Oil Field News & Trucking Information series 🚛 Oil Permian Permian Basin West Texas New Mexico Oil Field Trucking USA TODAY 489,510 views. Bull's eye on US' Permian Basin as oil prices rise. Output is expected to sail past 200 million barrels by year end, up YourBasin. We will send you timely news and reminders of our events. 6/13/2018 · Oil production in the Permian Basin, already a major force in global supply growth, will rise nearly 3 mbd by 2023—a level of growth exceeding most recent estimates, a new outlook by business 3/20/2017 · Texas Permian Basin land prices have skyrocketed by 50 times from 4 years ago and production there is poised to soar, throwing a wrench in OPEC's efforts to mop up the supply glut keeping oil Home. , announced today it has entered into a Letter of Intent with an undisclosed company to purchase it’s non-operated interests in Permian basin and California oil fields. Rigzone asks several oil and gas majors about their hiring plans in the Permian Basin in the near future. The Permian Basin is the powerhouse of oil production growth in the U. which is more than 5% of Today we are among the largest producers of oil and natural gas in the basin, and with approximately 2. Explore commentary on Permian Basin Royalty Trust and hear what the Pioneer Resources is well positioned in the Permian Basin. Wolf Midstream Partners Plans New Permian Basin Crude Oil Gathering and Terminal System a full-service midstream provider, announced today that it has executed a crude oil gathering and An oil pumpjack works at dawn in the Permian Basin oil field. When it comes to solid foundation assets, Pioneer's West Texas Spraberry field, with its long-lived oil and gas reserves, stable production and low maintenance capital cost, consistently delivers steady production growth. Upstream capital continues to flow to the oil p Royale Energy, Inc. 6 billion Exxon Mobil Corp buy that doubled its acreage in the basin. industry’s quest for liquids-rich plays is leading operators to double-down on the prolific Permian Basin, the long-standing cornerstone of domestic oil supply. The number of car accidents and truck accidents continues to increase at an alarming rate. com is your #1 news source for the latest stories in the An oil and gas drilling rig operating in the Permian Basin near Farmington, New Mexico 9 Dec 2018 “In the 1980's, during my time in the petroleum industry, the Permian and similar Today, thanks to advances in technology, the Permian Basin 27 Dec 2018 Industry officials in New Mexico say billions of dollars of investment by Permian Basin oil production slowly crept back up to one million BPD 21 Dec 2018 oil and gas potential buried within the Permian basin, containing over reserves (resources available using current technology and industry Today's the day for oil show: Posted: October 16, 2018. The Permian Today DUG Permian Basin; Executive Oil Conference and land is cheaper than in Texas' Permian Basin, the world's fastest-growing oil-producing region. Natural gas from the Permian Basin in West Texas and New Mexico is often overshadowed by oil — but natural gas production is growing and significant. Oil Majors Expand In Permian Basin OIL AND DRUGS: A special investigation on substance abuse in the Permian Basin only for subscribers at HoustonChronicle. Concho Resources Inc. oil production growth Today ~2 MMBOPD 2025 ~5 MMBOPD DUG Permian Basin; Executive Oil Conference and land is cheaper than in Texas' Permian Basin, the world's fastest-growing oil-producing region. Stay in-the-know with Frac Sand News reported on by Black Mountain Sand covering the Permian Basin in Texas as well as other major oil producing regions like Eagle Ford and Bakken. Railroad industry surges during oil boom in southeast New Mexico Friday, January 18 - 10:31 AM Albuquerque Journal - Adrian C. Output is expected to sail past 200 million barrels by year end, up The heads of drilling and completion for two of the largest operators in the Permian Basin will discuss their companies’ challenges, innovations and goals in this prolific region during a virtual panel discussion sponsored by DrillingContractor. Tight oil production from the Delaware and Midland basins will increase five-fold in the same period. “A lot of companies can hold on around $35,” said Janie Chermak, economics professor at University of New Mexico. spring from the Delaware, converting that zone and other parts of the Permian into the No. 60% Permian Basin oil production growth by 2030 Today. This time last year there were 255 rigs here. M. 9%. Oil production in the Permian Basin in the United States will exceed most estimates and rise nearly 3 million bbls/d by 2023, according to a new report from IHS Markit. Latest News. The Wolfcamp shale in the Midland Basin portion of Texas’ Permian Basin province contains an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1. M. Companies are working hard to build new infrastructure to relieve the backlog in getting oil and gas from the Permian Basin to the Texas Gulf Coast. “When it’s $50, a lot of companies are a lot more comfortable. Bull's eye on US' Permian Basin as oil prices Oil explorers have been flocking to the Permian Basin in West Texas and New Mexico to tap deposits so rich that they can generate profits even at lower oil prices. The Permian Basin’s unexpected high rates of produced water Across the board, the oil and gas industry is seeing an unprecedented amount of water being produced once wells are in production, but this is even more true in the Permian Basin. Today he championed the ExxonMobil has overtaken rivals to become the most active driller in the Permian Basin. 6/28/2014 · Despite the big boost in reserves over the past year, there appears to be much more oil potential in each shale play, with the Permian Basin really standing out. What Record Oil Production In The Permian Basin Drilling Report: Dec. oil industry could face massive layoffs. Permian Basin a modern gold rush for shale producers IHS Markit estimates Permian Basin will produce additional 60 billion barrels of oil While the energy world has been pre-occupied with the global price rout over the past two years, the Permian Basin in West Texas has quietly become the hottest oil play on the planet. The Permian Basin International Oil Show has generated a wave of economic impact, and 28 Nov 2018 USGS Identifies Largest Continuous Oil and Gas Resource Potential Ever Today, thanks to advances in technology, the Permian Basin 28 Dec 2018 Workers extracting oil from the Permian Basin, Texas - one of the regions weaken in the first half of 2019 if oil prices remain at current levels, 7 Dec 2018 Today, thanks to advances in technology, the Permian Basin continues to in the Midland Basin in 2016 are our largest continuous oil and gas Pioneer Resources is well positioned in the Permian Basin. Permian Shale Oil The comeback of the Permian, which today accounts for more than half the nation’s active oil drilling rigs, is among the the most remarkable stories in the industry’s history. With a recent Permian Basin acquisition worth around $6 billion, Exxon Mobil isn’t the only oil and gas company making waves in the new year. Permian Basin oil and gas producers are switching from rod pumps to plunger lift, with significant cost savings. Sign up here if you want to "know what we're gonna do" this year. Home > Stock Picks > Stocks to Buy > 5 Ways Permian Basin’s Oil Boom Can Make You Rich Feb 10, 2017, 12:30 pm EST February 10, 2017 5 Ways Permian Basin’s Oil Boom Can Make You Rich By Rick Jervis USA TODAY THREE RIVERS, Tex. 18, 2019 /PRNewswire/ -- Simmons Bank, as Trustee of the Permian Basin Royalty Trust (NYSE: PBT) ("Permian") today declared a cash distribution to the holders of its units of beneficial interest of $0. 58% for the past four weeks, and down 6. Today, BTU Analytics will discuss how flaring has shifted across the basin as bottlenecks have arisen and whether that is the only outlet operators have to ease such pressure. Now, the region may even become the world’s largest oil patch over the next decade. Permian Basin, Gulf to lead U. For Permian producers and shippers, open seasons for takeaway projects now rival Christmas and New Year’s Eve as big winter events, and companies are evaluating these projects and their implications for the basin. – Reporter, Houston Business Journal Feb 17, 2017, 2:00am CST Confidence among companies in the oil space has led to a surge in deals and organic investment in the Permian Basin in recent months. “Permian would rank along with the top five OPEC countries today Texas Oil & Gas Drilling Outlook Including Permian Basin and Eagle Ford More news releases in similar topics You just read: Texas Oil & Gas Drilling Outlook Including Permian Basin and We at Permian Basin Oil & Gas magazine published our first issue in September 2006, through affiliation with the Permian Basin Petroleum Association (PBPA). production, creating sudden wealth, and attracting oil majors like Exxon Mobil. 28 through Jan. Report Typo A post card advertises the oil boom in the Permian Basin in the 1930s. com is your #1 news source for the latest stories in the Permian Shale from the largest Worldwide Shale Network, Shale Plays Media. Oil producers may be getting in their own way in the race to pump crude from the fertile Permian Basin. Output in the basin is The Biggest Texas Oil Fields Producing Today especially those in the Permian Basin of west Texas, which alone contributes 14% of the total U. Constraints that could limit growth in Permian Basin crude and natural gas output go beyond the current pipeline bottlenecks, according to panelists at the recent Executive Oil Conference “Even for someone who understands the resources and potential of the Permian Basin, Permian Oil Reserves May Be Twice As Big As We Thought Today's Top New oil discovery in Permian is good news for industry, but also a warhead This conversation is moderated according to USA TODAY's an area within the larger Permian Basin beneath Texas and The previous record holder was the Permian's Wolfcamp shale in the Midland Basin region of West Texas, which held around half as much oil as the area surveyed in today's report, according to the IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today announced that it plans to triple total daily production to more than 600,000 oil-equivalent barrels by 2025 from its operations in the Permian Basin in West Texas and New Mexico. The Wolfberry Trend is a Bull's eye on US' Permian Basin as oil prices rise Thursday that shows portions of the Permian Basin could hold even more promise. shale oil Permian Basin Oil production and exploration articles, oil companies & plays covering oil shales. Impressions from the Permian Basin Oil Show on Wednesday at the Ector County Coliseum. Brutal Week: Permian Basin Shale Oil Pure Play Universe average stock price was down 8. Bull’s eye on US’ Permian Basin as oil prices rise Thursday that shows portions of the Permian Basin could hold even more promise. 2 Permit applications approved by the Texas Railroad Commission for Dec. group leadership today's spotlight Geologists say a new survey shows an oilfield in west Texas dwarfs others found so far in the United States, according to the US Geological Survey. that with the news of more resources in the Permian 5 Ways Permian Basin's Oil Boom Can Make You Rich. 43% ("Permian") today declared a cash distribution to the holders of its units of Today, thanks to advances in technology, the Permian Basin continues to impress in terms of resource potential. 91 years after oil was first discovered in West Texas, the once declining region is booming again, thanks to fracking. , Outrigger Energy is a private, full service midstream energy company specializing in greenfield project development with a focus in liquid-rich natural gas and crude oil basins in the Permian Basin of West Texas, the Rockies, and Mid-Continent areas. The Permian Basin in Texas and New Mexico is the nation's most prolific oil producing area. to USA TODAY's News Published 11:57 a. That has made crude oil price differentials Permian Basin driving force behind oil and gas industry optimism. A lot of history has focused on the buildup of resources that allowed the USA to ultimately bring the Second World War to a conclusion. The results of this most recent assessment and that of the Wolfcamp Formation in the Midland Basin in 2016 are our largest continuous oil and gas assessments ever released. Today's e-Edition; Newsletters; Huge oil resources still in Permian Basin — which includes southeastern New Mexico told The Associated Press that with the news of more resources in the DALLAS – December 6, 2017 - Wolf Midstream Partners (Wolf), a full-service midstream provider, announced today that it has executed a crude oil gathering and transportation agreement with an independent producer for approximately 25,000 dedicated gross leasehold acres in the prolific Permian Basin of West Texas. Join Today! CBS7 News is committed to watching over the entire West Texas area, and providing fast, accurate information to our viewers. Energy Transfer, Magellan Midstream, MPLX and Delek to Jointly Construct the "Permian Gulf Coast" or "PGC Pipeline" for Permian Basin Crude Oil Takeaway News provided by MPLX LP Energy Transfer, Magellan Midstream, MPLX and Delek to Jointly Construct the “Permian Gulf Coast” or “PGC Pipeline” for Permian Basin Crude Oil Takeaway Pending the final result of the commercial process, the EPIC Crude Oil Pipeline may be upsized to a 30-inch line, expanding Permian Basin capacity from 440 MBbl/d to 675 MBbl/d. Oil, Gas, etc ) county, state performance from operators in the Permian But for the Organization of Petroleum Exporting Countries, good news often comes hand-in-hand with bad news. The chart below shows a comparison of potential oil and gas production profiles in the Permian Basin using current rig activity and differences in spud-to-sale times. Royale Energy, Inc. LLC to acquire certain assets in the oil-rich Permian basin for $2. For that, look no further than the Permian basin. A group of major oil and gas companies with plays in the Permian Basin and related service companies has announced the formation of an energy alliance, collectively committing more than $100 million over the next several years to spur additional private-sector investment in the region. 46% YTD. The 17 major oil companies that have signed onto the alliance are Anadarko, Apache, Chevron, Cimarex, Concho, Devon, Diamondback, Encana, Endeavor, EOG Resources, Halliburton New oil discovery in Permian is good news for industry, but also a warhead This conversation is moderated according to USA TODAY's an area within the larger Permian Basin beneath Texas and Simmons Bank, as Trustee of the Permian Basin Royalty Trust ("Permian") today declared a cash distribution to the holders of its units of beneficial interest of $0. today. Exxon stock fell 2. Latest Investing News the Permian Basin is one of the top oil plays in the country, which has producers flocking to unlock its energy resources. com is your #1 news source for the latest stories in the An oil and gas drilling rig operating in the Permian Basin near Farmington, New Mexico MCM Energy Partners Reveals Recent $42 Million Permian Basin Sale. Hedden Extraction continues to grow in Permian Basin and southeast New Mexico, bringing more resources to the surface. Geological Survey. is an independent exploration and production company engaged in the acquisition, development and exploration of oil and natural gas properties. The American Oil & Gas Historical Society preserves U. Activity in the Permian Basin is an economic engine for our country, sustaining more than 440,000 jobs , generating $113. New IHS Markit report shows Permian Basin oil boom Today, the Permian basin in Texas and New Mexico is the nation's biggest shale oil producing region. the bulk of the state's A lack of pipelines to carry oil and natural gas out of the Permian basin in West Texas and southeastern Get All the Oil & Gas Journal News Delivered to Your Inbox Much of today’s oil Royal Dutch Shell shares were down 1. Left for dead after the initial oil boom in the early 1980s, the process of blasting water and gel and sand into oily rocks, known The Permian Basin has long been the most important oil and gas producing area in the United States. The terminal is located in the rapidly growing Delaware Basin, part of Permian Basin …Production from the Midland Basin, located within the greater Permian Basin, has increased more than 650,000 barrels of oil equivalent per day (BOEPD) since 2009, and horizontal rigs now account for more than 65 percent of all drilling rigs in the area. CBS Evening News U. Outrigger Energy LLC (“Outrigger”) announced today that it is significantly expanding its midstream capabilities in the Permian Basin with the addition of a natural gas gathering and processing and crude oil gathering system in the Midland Basin of West Texas. Dec 8, 2018. It's so cheap to drill in the Permian that it was the only major shale basin to continue growing even when oil prices crashed as low as $26 a barrel in early 2016. 46 million barrels per day (bpd). The Permian Basin Oil Field covers an area approximately 250 miles wide and 300 miles long and includes the following counties of Texas: Various zones and terms such as the Avalon Shale, Leonard Shale, Spraberry Formation, Yeso Oil Play, Bone Spring Formation, & Wolfcamp Shale are all part of the Permian Basin. Global Business and Financial News The Permian Basin is a sedimentary basin that was first drilled back in 1925, the large oil and natural gas producing area, comprised of the Midland Basin, the Delaware Basin, and the Marfa Basin Permian Basin News Friday, October 17th, 2014 and is filed under Oil and Gas Current Events , Permian Basin Oil News The Permian Basin, one of the most productive oil producing areas in the world, is buzzing with activity. The Permian Basin, located in west Texas and southeastern New Mexico, has been recognized as one of the most prolific onshore oil and natural gas producing regions in the United States. A biennial event since the end of World War II, the oil show has grown to represent the very fabric of a great industry. Between January 2016 and March 2017, oil production in the Permian Basin increased in all but three months, even as domestic crude oil prices fell. January 8, 2019 Report: Texas Oil And Gas Jobs Fell By 500 In November. permian basin oil news todayOil, petroleum and energy industry news from the Midland Reporter-Telegram and Fuel Fix. America’s Oil And Gas Reserves Double With Massive New Permian Discovery. 7/1/2018 · This report updates with 2018 Q1 results my initial report on the US shale Permian Basin – Delaware Basin E&Ps. Daily Oil Production (MMBOPD) Permian Basin Oil Growth Forecast (2016 - 2025) Permian Basin Poised For Long-Term Growth Source: PXD Internal Forecast Permian Basin will drive long-term U. Bull's eye on US' Permian Basin as oil prices rise told The Associated Press that with the news of more resources in the Permian comes greater (Bloomberg) -- Exxon Mobil Corp. For more information: www. , Dec. . Matthew DiLallo, The Motley Fool 10 Best Stocks to Buy Today ; Yahoo News UK. Register with us today Latest news headlinesAnalytical topics and Denver — Natural gas production in the Permian Basin has outpaced pipeline Oklahoma oil and gas explorers like many others in the lucrative Permian Basin of West Texas and East New Mexico are learning it might be years before there’s pipeline relief in the oil-rich formation. About PBIOS. Posted on Thursday, April 9th, 2015. January 7 Oct 18, 2018 There's a new kind of oil coming out of West Texas. 5 billion barrels [1], second only to Alaska at 5. Production from the Midland Basin, located within the greater Permian Basin, has increased more than 650,000 barrels of oil equivalent per day (BOEPD) since 2009, and horizontal rigs now account for more than 65 percent of all drilling rigs in the area. Odessa American via AP, File Jacob Ford ALBUQUERQUE, N. The results of this most recent assessment and that of the Wolfcamp Formation in the Midland Basin in 2016 are our largest continuous oil and gas assessments ever released,” said Dr. Movie clock. Many U. "Do we need to drill it all today and quickly? CBC News. Data source: EIA's DPRPermianshale. "There's oil that we wouldn't even think of trying to produce before that we're able to produce commercially today. Based in Denver, Colo. has overtaken rivals to become the most active driller in the Permian Basin, showing the urgency with which the world’s biggest oil company by market value is pursuing U. "The San Andres has produced 55 percent of the oil in the Permian Basin. SLB HAL RIG DO CXO CLR (Strong Buy). Watch Out, OPEC In its nearly 100 years of production, the Permian Basin has never produced more oil than it produces today. S Seventeen energy companies operating in West Texas’ booming Permian Basin said they’re pledging more than $100 million to help improve roads, schools, health care, housing and workforce training. HOUSTON--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) announced today that it has acquired a crude oil terminal in Wink, Texas from Genesis Energy LP. Permian Basin Frac Design & New Completion Technologies 2018. Subscribe today for $1. The Permian Basin Petroleum Association is a non-profit organization for the promotion of business efficiency and the betterment of Permian Basin oil business through cooperative efforts and the exchange of ideas. The Permian has been producing crude for 95 years – for roughly the last 10, as North America’s premiere oil play. The Permian Basin is six years into a boom sparked by advances in drilling methods that have unlocked a sea of hitherto unattainable oil buried inside a 90,000-square-mile stretch of sedimentary rock straddling Texas and New Mexico. The completion of the previously announced US$7. So despite low prices and a plummeting number of rigs working the Permian Basin, as of April oil production was still rising. One of NGI’s analysts remembers an early 1999 business trip he took to the oil focused Permian Basin. Noble Energy announced Jan. com is your #1 news source for the latest stories in the Permian Shale from the largest Worldwide Shale Network, Shale Plays Media. 4 billion barrels of oil equivalent in New Mexico’s Earthquake Map of Permian Basin Produced by Scientists February 10, 2018 A state beside Oklahoma is getting earthquake attention in relation to its extensive oil and gas drilling activity. Activity in the Permian Basin is an economic engine for our country, sustaining more than 440,000 jobs, generating $113. 6 billion in economic impact, and contributing more than $60. permian basin rty tr ubi (pbt) - trust holding overriding royalty interests in producing oil and gas properties in texas. . Between 1921 and today, roughly 29 billion barrels of oil have been pumped out of the Permian Basin. You can see the complete list of today’s Zacks #1 Rank stocks here. 3 million barrels per day. m. 10/17/2018 Jacy Lewis/191 News Impressions from the Permian Basin Oil …View detailed financial information, real-time news, videos, quotes and analysis on Permian Basin Royalty Trust (NYSE:PBT). We continue to serve the association today. 8 million barrels are produced in a day in the Permian Basin alone. Home > oilprice > Peak Oil Production at Permian Basin? crude energy oilprice. in Oil & Companies News 24 prolific Permian oil and gas basin that straddles Western Texas and Southeastern New WASHINGTON, December 6, 2018 – The American Petroleum Institute released the following statement regarding today’s U. 1 billion acquisition of Texas-based Athlon gives the company a premier 140,000 net acre position in the oil-rich Permian Basin. to '18 production record. Coverage includes US, Canada and International Plays, from the Vaca Muerta In Argentina to the Eagle ford in South Texas. Read More. Today, oil’s “super majors” are betting they In a Bloomberg Intelligence briefing today, Bloomberg’s analysts outlined the current economics of Permian wells, examining how the country’s most popular basin will handle changing oil prices. This is why the bottlenecks and the resulting Permian discounts are the latest hot topics in the energy sector causing pain The United States Geological Survey (USGS) announced Thursday that the Delaware Basin, which is part of the larger Permian Basin in Texas and New Mexico, is an oil and gas goldmine. For definitions of terms and explanations of methodology, please reference the The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil and natural gas wells to provide estimated changes in oil and natural gas production for seven key regions. With approximately 2 million net acres of resources, Chevron is the Permian Basin’s largest net acreage holder. 5 million b/d by the endof 2019. The company was founded on November 1, 1980 and is headquartered in Dallas, TX. UPDATED: Fri. permianbasinap. Breaking News: China’s Teapots Don’t See Major Impact From Shandong Oil Product Rules the output growth expected over the next half-decade or so depends very heavily on the Permian basin The Permian Basin reached a new oil-production record of at least 815 million barrels in 2017, according to a new report. Kinder Morgan (ticker: KMI) and privately held EagleClaw Midstream have announced a Final Investment Decision on the Permian Highway pipeline (PHP) today, as oil and gas producers and midstream The comeback of the Permian, which today accounts for more than half the nation’s active oil drilling rigs, is among the the most remarkable stories in the industry’s history. $45 per year or $350 for a Corporate membership. 3 – Worldwide and Permian Basin CO 2 EOR Production. News. Frac Sand News reported on by Black Mountain Sand covering the Permian Basin in Texas as well as other major oil producing regions like Eagle Ford and Bakken. told The Associated Press that with the news of more resources in the Permian comes greater responsibility. I'm interested in (please check all that apply) The Building Boom Continues as Another New Permian Basin Oil Pipeline Is Underway. Horizontal Drilling Accelerates In Permian Basin By Colter Cookson The U. that with the news of more resources in the Permian comes Some of the best wells here in the Permian Basin that three years ago required an oil price of over $60 a barrel for an operator to break even now need about $35, well below the current price of MIDLAND — Texas Railroad Commissioner Ryan Sitton opened the Permian Basin Petroleum Association Annual Meeting today with an overview of how the record oil production of the region is positioning Texas as a global energy leader. Around the clock and across the Basin. OIL & GAS: Exxon will buy 500 MW of wind and solar power in the Permian Basin to help it produce crude oil, making it the largest renewable contract ever signed by an oil company. The Texas side of the Permian has already produced nearly 30 billion barrels of crude, as well as 75 trillion cubic feet (Tcf) of natural gas. 2 for Districts 7C, 8 and 8A. Zacks Equity Research March 26, 2018. maturation of existing projects which are less efficient on a per million cubic feet (mcf) basis but yet quite economical in today’s oil price environment. A few passing clouds, otherwise generally sunny. 2% on the stock market today. Next Meeting: Wednesday, July 11th, Hilton Garden Inn, Midland, Texas. FILE - In this Oct. m The Permian Basin oil boom in Texas is driving record U. 4 billion barrels of oil equivalent in New Mexico’s Delaware Bas Today, at around 2 million b/d, the Permian accounts for over 20% of the country’s crude production and is the second largest oil field in the world, after Saudi Arabia's legendary Ghawar field. In a Bloomberg Intelligence briefing today, Bloomberg’s analysts outlined the current economics of Permian wells, examining how the country’s most popular basin will handle changing oil prices. ‘Largest’ Shale Oil Reserve Discovered in US More Entrepreneurship news . It’s hard to argue with a basin that features several horizons to drill, and the actual formation is several thousand feet thick. 5. permian basin oil news today shale. 8 You can see the complete list of today’s Zacks #1 Rank A hundred-foot oil rig pushes up amid acres of irrigated cotton fields and long dirt roads on this oil patch between Midland and Odessa, the two main towns in the Permian Basin in West Texas. ShaleTech: Permian Basin /// While the drop in oil prices has sent shivers through Wall Street, for the time being at least, the reaction has been a bit more lukewarm along the well-worn arteries The geology and infrastructure are two reasons why oil companies like the Permian basin in Mayor Jerry Morales. Look for oil production records. Texas braces for massive layoffs amid oil slump. The Permian Basin began producing oil in 1921. The Permian Basin, one of the oldest oil fields in Texas, is booming again thanks to fracking and horizontal drilling and may be on the verge of a glut that pushes down prices. Oil & Gas Three Rivers Operating Company News Riverstone Holdings LLC invests up to $500 million in Three Rivers III. A lot of people have lost sight of that," said Lance Taylor, founder and chief executive officer of Steward Energy II. Home > Stock Picks > Stocks to Buy > 5 Ways Permian Basin’s Oil Boom Can Make You Rich Feb 10, 2017, 12:30 pm EST February 10, 2017 5 Ways Permian Basin’s Oil Boom Can Make You Rich The comeback of the Permian, which today accounts for more than half the nation’s active oil drilling rigs, is among the the most remarkable stories in the industry’s history. The Permian Basin is classified as a sedimentary basin mostly located in Western Texas and also the SE part of New Mexico. shale. The United States of oil and gas like the ever-reliable Gulf of Mexico and the Permian Basin in western Texas and eastern New Mexico, show no signs of slowing down. 72% for the week, down 8. which is more than 5% of The United States Geological Survey (USGS) announced Thursday that the Delaware Basin, which is part of the larger Permian Basin in Texas and New Mexico, is an oil and gas goldmine. For a bit of perspective, the entire state of California, which recently beat out the United Kingdom as the fifth biggest economy in the world, has around 10 active drilling rigs. Stockpiles Seen Falling, China Plans Tax Cuts American Business Conferences’ annual Permian Basin Artificial Lift EnergyNow is an online News Permian Oil Production To More Than Double By 2023, Report Says. between where the Powder River is today and The story of the Permian Basin oil field is one of resurrection. The Permian Basin, arguably the most important oilfield in the world, is growing so fast that it hurts. News from around the state of Texas Company Leaders Expect Strong 2017 for West Texas Oil Published Dec 21, 2016 at 2:48 PM. shale news and market information for the deregulated North American natural However, as highlighted in Permian producer earnings calls over several quarters, not all operators are experiencing infrastructure bottlenecks the same. Some of the most lucrative gushers in the U. Numbers in parentheses indicate the number of permits approved for that leasehold. 5 million b/d of crude oil, and shouldstay fairly flat for the rest of 2018, according to S&P Global PlattsAnalytics, with production growing to around 4. Six formations within the basin have provided the bulk of Permian's 60% increase in oil output since 2007. Today's Buzz Buzz Blog; Radio & TV Talk Bull's eye on US' Permian Basin as oil prices rise. The main part of the Green River Basin Formation though, is located in the southwest portion of Wyoming in the middle of cities Evanston and Rock Springs. 00. Concho’s operations are concentrated in the Permian Basin of Southeast New Mexico and West Texas. Get All the Oil & Gas Journal News Delivered to Your Inbox. shale oil Oil, petroleum and energy industry news from the Midland Reporter-Telegram and Fuel Fix. and pressure gas prices for years. 18, 2019 /PRNewswire/ -- Simmons Bank, as Trustee of the Permian Basin Royalty Trust PBT, +0. along with another in West Texas known as the Permian Basin, is driving the boom and could make Texas one of the leading oil producers on the planet The oil-rich Permian Basin also is emerging as a major new source of natural gas, a development that could deepen an existing oversupply of natural gas in the U. 6 billion in economic impact , and contributing Texas News. Bull's eye on Permian Basin as oil prices rise told The Associated Press that with the news of more The Permian currently produces 3. As production in other regions fell throughout most of 2015 and 2016, the Permian provided a growing share of U. Publisher Grant Moise explains the changes that start today at The Dallas Morning News. 1 oil and gas producing region in the U. With more barrels of oil being pumped monthly from the Permian Basin, New Mexico is among the nation's top producing states. Oil & Gas News. Permian Basin oil production, today about 2 million The Permian Basin may be somewhat immune to soft oil prices, economists say. Encana expects to complete the Offer and the merger today. Permian Basin 2017 Drilling News, Leasing, Wells, Budgets, Regulations and Midstream. between where the Powder River is today and DUG Permian Basin; Executive Oil Conference from locations throughout the Permian Basin, which provides unprecedented access to the region, and discusses the transformation of the basin Today the Permian Basin oil fields produce 17% of total US crude oil and account for over 66% of total Texas oil production. 9, 2018, file photo, an oil rig and pump jack work along the roadside of FM 1788 in Midland, Texas. Shale Experts is research, news and data that enable you to anticipate changes, engage new customers and share your knowledge about the global unconventional marketplace. The Permian Basin is one of the most productive oil and gas areas in the country, and more than 3,000 horizontal wells have been drilled in the Wolfcamp shale section, the agency said in a statement. AP The new Permian Basin drilling king is a familiar Texas name The Permian Basin once played host to the stock related news and private companies such as Airbnb. Today's breaking news and more in your inbox. The Association includes approximately 1,000 member companies that produce oil and gas in the Permian Basin of west Texas and eastern New Mexico