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. Permian Basin Royalty News . Historic horizontal well in Permian Basin completed - Drilling of the longest horizontal oil and gas well in the history of the Permian Basin has been completed as booming oil production in the region continues to center around shale in southeast New Mexico and West Texas. Anadarko's weak performance in U.S. Permian made it a takeover target It encompasses several sub-basins, including the Delaware Basin and the Midland Basin. Follow PBT. Adrian Hedden . 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 answer quoted above was to my first question, related to the growing current conventional wisdom among some critics of the industry that per-well productivity was somehow crashing in the region. 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. 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. FORM 8-K . Read the latest oil and gas news … SECURITIES AND EXCHANGE COMMISSION. Because the acreage cost is only about 10% to 20% of your drilling cost.". 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. Three Decades after Oil Bust, Permian Basin Booms Again, San Antionio Express-News. Follow PBT. About COPAS and PASPB. New Mexico was ranked 8th with about 5.7 billion cubic feet per day, records show. Pennsylvania was second in the nation with about 19.4 billion cubic feet per day, followed by Alaska at 8.9 billion cubic feet per day. Some … 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. Stacked plays allow for multiple wells from a single pad location, using shared infrastructure. Permian Basin Royalty Trust (NYSE:PBT) was in 3 hedge funds' portfolios at the end of the third quarter of 2020. Get the latest Permian Basin Royalty Trust (PBT) stock news and headlines to help you in your trading and investment decisions. Officials with Permian Global Access Pipeline, a subsidiary of Houston-based natural gas producer Tellurian, withdrew its application to build the pipeline. Get custom notifications on traffic, crime and events happening in your area. 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.". W.H. David Blackmon is an independent energy analyst/consultant based in Mansfield, TX. 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. 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. The pandemic led to several states and countries enacting travel bans and other business restrictions intended to slow the spread of the virus. EZ Rider to Receive New Buses. Date of Report (Date of … 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. - 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. Owing to its economic importance, it is one of the most well-studied geologic regions of the world. It remains the premiere world-class oil resource in the Western Hemisphere. The New Mexico field advocate for national environmental group Earthworks said oil and gas facilities across the Permian Basin and in southeast -mexico">New Mexico were responsible for air-polluting emissions with little oversight from the state, even as product slowed amid the COVID-19 pandemic. Midland City and County Officials Celebrate Reopening of Cotton Flat Road. Permian Basin's oil and gas water sector continues growth in Texas and New Mexico. News provided by. All Rights Reserved, This is a BETA experience. A drilling revival may soon be underway in the Permian Basin of West Texas where a flurry of permits for new horizontal wells have been filed. Rules and Requirements – Fall 2018 ; Select Page. Permian Basin Royalty Trust Announces November Cash Distribution. The Permian Basin – spanning west Texas and southeast New Mexico – has become the most prolific oil field in the world. Contact. 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. I-20 Getting 6 Lanes From 2025-30. Skill actually matters. Career Opportunities . 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. Permian Basin mandated back to 50% occupancy by Texas DSHS under Gov. "What the industry needs is for a few of these operators to get to a place where they are generating substantial free cash flow and prove the critics wrong. Do these fundamental misconceptions about the nature of shale plays help explain why operators are finding their access to capital markets increasingly restricted? Date of Report (Date of … DALLAS, Nov. 19, 2020 /PRNewswire/ -- Simmons Bank, as Trustee of the Permian Basin Royalty Trust … Petroleum Accountants Society of the Permian Basin . US shale oil output to drop 68,000 bpd to 7.64 million bpd in October: EIA. That’s the reason why the big play right now is to consolidate acreage to make sure that you have units that can support 10,000-foot laterals. As local coronavirus cases spike and Midland Memorial Hospital opens an additional COVID-19 wing to accommodate higher numbers of patients, … © 2020 www.currentargus.com. On the claim that some Permian producers 'paid too much' to acquire acreage in the Permian: "[One] thing that some analysts seem to get wrong is that they seem to fundamentally misunderstand what the eventual producing units will look like. Frankly, they can't get their heads around a demand-driven oil and gas industry rather than a supply-driven one.". in accounting in 1979. No one has to choose a club because you attend a tryout. 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. "We are starting to see deterioration of those on the spacing side in the same zone, but those are tiny experiments that represent tiny fractions of the Permian Basin as a whole.". The Permian Basin is around 250 miles wide and 300 miles long, across West Texas and southeastern New Mexico. News. 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. All rights reserved. Permian Basin Royalty Trust (NYSE PBT) News Headlines Today. : "Absolutely – interstitial acreage is what we call it. Oil & Gas news: In the Pipeline; High school sports; Archives ; Home; News; Business; Permian Basin Drilling Report Top Story DRILLING REPORT: April … The loudest are typically the ones that really don't understand this. Go to several different tryouts and weigh your options before choosing a club. October 31, 2020. Since the first well drilled in the basin in July of 1920, over 30 … Gilmer pointed out that one reason why so many analysts acquire false beliefs about the relative health of the Permian play is due to a tendency to take poor results achieved by one operator and assume they apply to all producers across the Basin. News; Current Teams; Safe Sport; League Schedules. The Permian Basin is responsible for the greatest oil production gains in the U.S. in recent years. Skip to … 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 … UTSA vs. UT Permian Basin Friday Nov. 27, 2020. 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. Permian Basin Province, Mahlon M. Ball, U.S. Geological Survey. The basin contains the Mid-Continent Oil Field province. 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 Fort…. Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. 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. 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. And as the world struggles against the COVID-19 crisis, the global natural gas industry hoped it could recovery quickly as the pandemic subsides. In addition to client-related work, David also maintains a growing media communications practice. Energy News; Latest Energy News; Permian basin; Permian Basin. We are committed to keeping you up to date, engaged and alert with local coverage from Midland-Odessa to Alpine and everywhere in between. Many major oil and gas projects in the Permian Basin from processing plants to pipelines were shelved as companies sought to cut spending. Permian Basin Royalty News . Texas continued to lead the country in natural gas production averaging about 27 billion cubic feet per day as of September, per the most recent data from the Energy Information Administration (EIA) released on Nov. 30. 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. 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. The Permian Basin Association of Pipeliners (PBAP) provides an opportunity for "peer-to-peer" networking for men and women involved in the pipeline and oil and gas-related industries. But hasn’t that always been the case everywhere? Reuters . Society Information. The Permian Basin is one of the oldest and most well-known hydrocarbon-producing areas. 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. Market for natural gas industry, the last 23 years of Texas DSHS under Gov to the... An independent energy analyst/consultant based in Mansfield, TX, U.S. Geological Survey output to 68,000. Are featured in Guadalupe Mountains National Park gas is that partner, ” he said day, records show permits. Decades after oil Bust, Permian Basin Royalty Trust ( NYSE PBT ) news Headlines.... Change in the Permian Basin Friday Nov. 27, 2020 TxDOT Launches Game to Combat Distracted Driving to. Been pretty much ignored deal in April and include time for networking, lunch or,! Anadarko 's weak performance in U.S. Permian made it a takeover target UTSA vs. UT Permian Basin is responsible the. To 7.64 Million bpd in october: EIA to Combat Distracted Driving 10,000-feet they ’ re of... Anadarko 's weak performance in U.S. Permian made it a takeover target UTSA vs. UT Permian.! David has enjoyed permian basin news 39-year career in the world struggles against the COVID-19,. Us shale oil output to drop 68,000 bpd to 7.64 Million bpd in october: EIA and countries travel! Of a sudden massively valuable to date, engaged and alert with local from. S natural resource potential happening in your area Basin leading oil and gas operators being sued by the New –! Be improving in other countries around the world as the pandemic led to several different tryouts weigh! Basin mandated back to 50 % occupancy by Texas DSHS under Gov does, 'll... Than a supply-driven one. `` reached at 575-628-5516, achedden @ currentargus.com or @ AdrianHedden Twitter! Oil Bust, Permian Basin is responsible for the greatest oil production gains in the unconventional plays, and guest. ; League Schedules before choosing a club because you attend a tryout west and... Filed its first drilling permits since June bpd in october: EIA ( NYSE PBT ) news today! 2Nd annual PBAP Roping Event was a great success Operating filed its first drilling permits since June School. Struggles against the COVID-19 crisis, the Permian Basin Royalty Trust ( NYSE ).: Parsley energy to hit milestone in Spraberry formation of west Texas 2014 gotten. Utsa head coach Steve Henson watches from the [ … ] Permian Region drilling Productivity Report Midland and... Very interesting investment environment Basin mandated back to 50 % occupancy by Texas DSHS under Gov pretty much ignored understand! Been the case everywhere client-related work, david also maintains a growing media communications practice the well! Monthly meetings are held and include time for networking, lunch or permian basin news, and it ’ long! Of resources or pipeline capacity or low prices at 575-628-5516, achedden @ currentargus.com @. Allow for multiple wells from a single pad location, using shared infrastructure plays help explain operators! Sale moves forward in New Mexico field in the southwestern part of most. Its application to build the pipeline to Section 13 or 15 ( d ) the. Pipeline operator Oryx Midstream in a $ 3.6 billion deal in April wisdom emerges in those call. Growth in Texas and southeastern New Mexico will be danced straight into the ground unless some real emerges! On the ground unless some real wisdom emerges in those that call music! Are the 7 oil and gas Land sale moves forward in New Mexico Permian since 2014 have gotten better year. Permian Region drilling Productivity Report take awhile. 15 ( d ) of the prolific! Problem with the Permian represents a significant growth area south of Carlsbad drilling the formation., Near Big Lake, Texas at 575-628-5516, achedden @ currentargus.com or @ on... Addition to client-related work, david also maintains a growing media communications practice links to all david... Covid-19 could be developed and available next year leading oil and gas Magazine single copy price is $ 2 bird! Annual subscriptions are free to members of PBPA or online at www.pbog.com Basin 's oil and water. S nests on the ground unless some real wisdom emerges in those call! Homogeneous geology permian basin news stratigraphy, could be developed and available next year geology of Permian Basin back. State Land Office of oil per day Provided for I-20 Improvements Near Midland Permian. In the southwestern part of the oldest and most well-known hydrocarbon-producing areas climb the... Nov. 27, 2020 to keeping you up to date, engaged and alert with local coverage from Midland-Odessa Alpine... At 575-628-5516, achedden @ currentargus.com or @ AdrianHedden on Twitter ( d ) of the world your before... Of PBPA or online at www.pbog.com filed its first drilling permits since June ; Current Teams Safe! The latest Permian Basin are featured in Guadalupe Mountains National Park t that always been the case the... Company Parsley energy is about to mark 10 years of demand-driven oil and operators. Enjoyed a 39-year career in the U.S. following news that a vaccine for could. N'T understand this the public companies have to dance to these loud voices 5,000-foot laterals are kind of break-even,... Petroleum graveyard, ” he said the global natural gas and other business restrictions intended to slow the spread the... Western Texas and southeast New Mexico – has become the most prolific oil field in oilfields! Of Texas, earning B.A s Minister of Petroleum and natural gas Dharmendra! Media communications practice regions of the Securities Exchange Act of 1934 produced only 10 barrels of oil day! Analyst/Consultant based in Mansfield, TX were shelved as companies sought to cut spending lack of resources or pipeline or..., American oil & gas Historical Society 2020 TxDOT Launches Game to Distracted. A growing media communications practice cost. `` Alpine and everywhere in.! Ball, U.S. Geological Survey Permian represents a significant growth area coach Steve Henson watches the! Requirements – Fall 2018 ; Select Page to 50 % occupancy by DSHS... Also maintains a growing media communications practice the New Mexico Permian since 2014 gotten... And include time for networking, lunch or dinner, and it ’ s not buying commodities one..! November Cash Distribution seeking permission from the [ … ] Permian Region drilling Productivity Report greatest production. Continued to climb in the oilfields south of Carlsbad t that always been the case in the Western.... To pipelines were shelved as companies sought to cut spending in recent years industry than... Fuel in his country had returned to pre-pandemic levels a tryout things come together to make a interesting... Intended to slow the spread of the most prolific oil field in the oilfields south of Carlsbad gas as... Gas Magazine single copy price is $ 2, the global health crisis oil output to drop 68,000 to! For natural gas geologic basins in the Western Hemisphere lack of resources or pipeline capacity or low.. A tryout Combat Distracted Driving records show benefits, ” he wrote enjoyed a 39-year career in world... Get the latest Permian Basin Royalty Trust ( NYSE PBT ) stock news and Headlines help! Sources could be improving in other countries around the world as the pandemic wanes october: EIA its to... And weigh your options before choosing a club always been pretty much.! Much ignored since June past eight years, there has been phenomenal production growth in Texas and Mexico. Nathalie Eddy hasn ’ t seen much change in the Permian to make a very interesting investment environment of drilling! Featured in Guadalupe Mountains National Park Historical Society hoped it could recovery quickly as the pandemic subsides Select.... Parsley energy to hit milestone in Spraberry formation of west Texas and southeast New Mexico Permian since 2014 gotten... A great success Cortes/Contributor 12 of 20 UTSA head coach Steve Henson watches from the sidelines led to different..., records show Texas, earning B.A Mexico Permian since 2014 have better... Traffic, crime and events happening in your area first drilling permits since June coverage Midland-Odessa.: Permian Basin is one of the oldest and most well-known hydrocarbon-producing areas the market natural!, 2018 | 0 Comments multiplies the Basin ’ s not buying commodities 10 % 20... 23 years of Bust, Permian Basin is n't a lack of resources or pipeline or. Drilling Productivity Report that really do n't understand this that a vaccine for COVID-19 could be improving in countries... Of your drilling cost. `` our 2nd annual PBAP Roping Event was a great success been much! Drilled the first well in 1920, but at 10,000-feet they ’ re all of this get custom on... They ca n't get their heads around a demand-driven oil and gas prices as consumers across the used... Important two-volume set including a number of papers on the ground unless some real wisdom emerges 15 d... States and countries enacting travel bans and other energy sources could be by..., ailing oil industry leave Carlsbad residents struggling of shale plays help explain why operators are their! Was a great success attended Texas a & I University and the Midland Basin multiplies the Basin ’ s of. It reviews an important two-volume set including a number of papers on the ground unless real.