: “All these things come together to make a very interesting investment environment. 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. Permian Basin Information, Railroad Commission of Texas. 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. It reviews an important two-volume set including a number of papers on the geology of Permian Basin. Just a few thoughts… by PB Elite | Sep 24, 2018 | 0 Comments. Permian Basin Royalty News . Most of it is economic at $40/bbl  - you just need to be able to go out there and do it the right way.". India’s Minister of Petroleum and Natural Gas Shri Dharmendra Pradhan said demand for fuel in his country had returned to pre-pandemic levels. News. They completely miss the nuances of all of these variables and the non-linear aspects in all of this. It’s not buying bird’s nests on the ground, it’s not buying commodities. 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.". He is the resident energy expert on the "In The Oil Patch" radio program, and executes frequent public speaking engagements around the state of Texas and at conferences. People who really know what they’re doing are going to make a fortune in this stuff, and the people who don’t know what they’re doing are going to waste a lot of capital. The pandemic led to several states and countries enacting travel bans and other business restrictions intended to slow the spread of the virus. But hasn’t that always been the case everywhere? CURRENT REPORT. 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 Gilmer says, not exactly. It would have crossed 24 Texas counties and four parishes in Louisiana, moving up to 2.3 billion standard cubic feet of gas per day. Career Opportunities . Adrian Hedden can be reached at 575-628-5516, achedden@currentargus.com or @AdrianHedden on Twitter. Contact. Absolutely," he said. Maps. Date of Report (Date of … The text or links to all of David’s writings and podcasts can be found at www.dbdailyupdate.com. September 11, 2020. All rights reserved. Reuters . New Mexico climbed to 59 active rigs as of Dec. 4, growing from November’s average of 54, per data from Baker Hughes, but was still at barely half of its average of 103 rigs in December 2019. Share this article. 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. 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. News provided by. The Permian Basin is a large sedimentary basin in the southwestern part of the United States.The basin contains the Mid-Continent Oil Field province. I pointed out that that was one of the big drivers behind the April/May battle between Oxy and For ExxonMobil, the Permian represents a significant growth area. Do these fundamental misconceptions about the nature of shale plays help explain why operators are finding their access to capital markets increasingly restricted? 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. In addition to client-related work, David also maintains a growing media communications practice. We are committed to keeping you up to date, engaged and alert with local coverage from Midland-Odessa to Alpine and everywhere in between. Monthly Permian Basin Oil and Gas Magazine single copy price is $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. Permian Basin's oil and gas water sector continues growth in Texas and New Mexico. © 2020 www.currentargus.com. UTSA vs. UT Permian Basin Friday Nov. 27, 2020. Although many experts considered the region a “petroleum graveyard,” Texon Energy tried again in August 1921. 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. A mature ‘super basin’ located in Texas and New Mexico has set a new oil-production record, beating its previous peak set in 1973. Average per-well peak rates for the New Mexico Permian since 2014 have gotten better every year, averaging about 20% better every year. Permian Basin Royalty Trust (NYSE:PBT) was in 3 hedge funds' portfolios at the end of the third quarter of 2020. News. Short-Term Energy Outlook Supplement, Energy Information Administration. Frankly, they can't get their heads around a demand-driven oil and gas industry rather than a supply-driven one.". 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. The all time high for this statistics is 11. 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. The loudest are typically the ones that really don't understand this. 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