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Occidental Petroleum Provides Hurricane Harvey Business Impact Update

October 5, 2017

HOUSTON — Earlier this week, Occidental Petroleum Corporation announced its projected third quarter 2017 business impacts of Hurricane Harvey, as the company’s operations have returned to pre-storm levels.

According to a press release issued by the corporation on Tuesday, overall, the storm caused minimal disruptions to operations and Occidental expects this one-time financial and production impact to be limited to the third quarter.…

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Permian Basin could yield 70 billion oil barrels in coming decades, IHS says

October 3, 2017

HOUSTON (AP) — In coming decades, oil producers using advanced drilling rigs and fracking tools could extract up to 70 billion barrels of crude from the sprawling Permian Basin, researchers say in a late-September story produced by the Houston Chronicle.

John Roberts, a researcher for IHS Markit, began work on that estimate in 1987, when he started collecting geological data in West Texas for a small company in the midst of a crushing oil bust.…

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ExxonMobil Continues to Increase Acreage in Permian Basin

October 2, 2017

IRVING — Last wee, officials with Exxon Mobil Corporation announced it has added 22,000 acres to its Permian Basin portfolio since May through a series of acquisitions and acreage trades.

Located in the highly prolific, stacked oil pay zones of the Delaware and Midland Basins, the new acreage adds to the company’s existing 6 billion barrels of oil equivalent Permian Basin resource base.…

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Sand Mines Draw Scrutiny Over Dunes Sagebrush Lizard

October 2, 2017

Environmental Group Reports Habitat Loss

The environmental protection group Defenders of Wildlife reported finding a loss of habitat for the dunes sagebrush lizard caused by the Permian Basin frac sand mining boom, identifying mining companies by name in the analysis released late last month.

Defenders of Wildlife reported that satellite images of the mines show about 292 acres of lizard habitat and surrounding buffers have already been disturbed by the sand mines since March.…

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U.S. Silica to Build Second Frac Sand Mine and Plant in the Permian

September 28, 2017

$150M Lamesa Site Anticipated to Open March 2018

FREDERICK, Md — U.S. Silica Holdings, Inc. (NYSE: SLCA) announced today that it plans to build a second, state-of-the-art frac sand mine and plant in West Texas to serve the rapidly-growing Permian Basin.

The new facility, located near Lamesa, is expected to produce approximately 2.6 million tons annually and is part of the Company’s previously announced plan to add 8 to 10 million tons of new Brownfield and Greenfield capacity to meet surging frac sand demand.…

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RRC: Gaines Wells Produce 1.94M Barrels of Oil in July

September 25, 2017

Preliminary July oil production numbers for Gaines County showed an increase from adjusted June totals, according to figures released Monday by the Texas Railroad Commission.

In the RRC’s monthly report, Gaines County wells reportedly produced 1.94 million barrels of oil during the month of July 2017, which was up from an adjusted June total of 1.87 million barrels.…

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Wood Mac: Permian could top out in 2021 unless tech overcomes geology

September 21, 2017

HOUSTON (AP) — The world’s hottest oil field could run out of steam in just a few years if shale drillers can’t overcome the natural constraints of the region’s geology, a new study says.

Reported by the Houston Chronicle  on Thursday, the report states that by 2021, oil production could peak in Permian Basin, as rapid drilling and fracking exhaust underground pressure in the most prolific areas of the West Texas play, according to one scenario outlined by energy research firm Wood Mackenzie.…

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Chevron Sells Slice of Permian in West Texas to Sabinal, Kayne Unit

September 14, 2017

Deal Includes Portions of Gaines, Terry, and Hockley County Assets

HOUSTON — Chevron U.S.A. Inc. has sold 66,500 net acres in West Texas to Sabinal Energy LLC and Kayne Private Energy Income Fund LP., according to a Wednesday report from Natural Gas Intelligence’s Shale Daily website.

The property, now producing 7,500 boe/d, is in Hockley, Terry and Gaines counties in the Permian Basin, within the Central Basin Platform and Northern Shelf.…

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Harvey’s flooding blamed in major gasoline spill in Texas

September 12, 2017

Hurricane Harvey’s floodwaters triggered a spill of almost a half-million gallons of gasoline from two storage tanks along the Houston Ship Channel, marking the largest spill reported to date from a storm that slammed into the heart of Texas’ huge petrochemical industry.

The spill measured 10,988 barrels, or more than 461,000 gallons, and occurred at a petroleum tank farm in Galena Park operated by Magellan Midstream Partners, according to the Oklahoma-based company and accident reports submitted to federal officials.…

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Gasoline prices falling, shortages ending

September 12, 2017

HOUSTON (AP) — Gasoline prices are starting to fall after peaking late last week as temporary shortages caused by Hurricane Harvey begin to ease.

Texas gas stations are mostly replenished with fuel now – though some pockets of outages remain in Houston, Dallas and San Antonio, according to GasBuddy.com, a website that tracks gasoline prices and refining activity.…

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