Tag: Midland
Red Deer’s Predator Drilling expands into Permian Basin, buys Midland Texas competitor
Assets include six, one thousand horsepower single drilling rigs Predator Drilling LLC, a subsidiary of Predator Drilling Inc. of Red Deer, Alberta, has acquired all assets of J. B. Hunt Gas and Oil Drilling of Midland, Texas in an all equity transaction. The experience and successful business practices of the J. B. Hunt family will […]
Permian Basin output boost pressures regional prices
Cash traders selling Permian Basin crude at steep discounts Booming West Texas oil production has resulted in a drop in the value of the area’s spot crude to its lowest discount to the US oil benchmark in nearly two years. Shale producers in the Permian are frantically working to take advantage of higher prices and […]
City of Midland, Pioneer partner to use reclaimed wastewater
Pioneer volume-based contract is expected to last for next 20 to 28 years, depending on flow rates MIDLAND, Texas – The City of Midland and Pioneer Natural Resources signed a historic agreement that will upgrade the City’s infrastructure while saving millions of gallons of freshwater. Midland City Council approved a private-public partnership with Pioneer at that will allow […]
Concho Resources acquires Northern Delaware Basin assets
Complementary acquisition adds scale and long-lateral drilling inventory in top-tier Red Hills area MIDLAND, Texas – Concho Resources Inc. says it reached an agreement to acquire approximately 24,000 gross (16,400 net) acres in the northern Delaware Basin for approximately $430 million, according to a press release. The acquired acreage is complementary to the Company’s leasehold position […]
Craddick praises energy production in heart of Texas’ Permian Basin
Permian Basin production holding up despite low oil prices – Craddick Railroad Commissioner Christi Craddick spoke to the Midland Chamber of Commerce’s board today about the current state of Texas energy, highlighting encouraging oil industry activity in the Permian Basin early this year. “There are a few key reasons why companies from across the world […]
Permian Basin emerges as premier US shale play
185,000-plus wells produce from Permian Basin, with nearly 18,000 horizontal wells A new study by consultancy IHS shows that North American oil and gas companies are flocking to Permian Basin because of its superior productivity in a time of low prices and tight margins. According to the IHS Energy North America Supply Analytics report entitled The Permian Basin—Need […]
Texas training youth for oil field jobs in midst of industry bust
Big gap in Texas oil and gas labour force between 20-year olds and baby boomers soon to be retiring The oil industry is mired in its latest bust. But in Texas, education officials are working harder than ever to prepare more young people for the oilfield. Their commitment shows the state’s unshakeable commitment to the energy […]
Midland, TX is fastest growing metropolitan region in USA, thanks to shale oil
Shale oil production helped Midland grow by 24.1% from 2013; San Angelo, Texas was second with an 11.4% increase A new report from the Bureau of Economic Analysis (BEA) recently highlighted the economic growth throughout metropolitan areas in the United States in 2014. According to the report, real gross domestic product (GDP) increased in 282 of the nation’s 381 metropolitan areas. […]
Midland leads Texas with 2.3% unemployment, but energy shedding jobs
Texas could lose 125,000 energy jobs in 2015 The most recent jobs data shows the Midland and Odessa area leading Texas employment creation, but storm clouds are on the horizon as the oil and gas sector begins laying off workers because of falling oil prices. According to the Texas Workforce Commission, the Midland Metropolitan Statistical Area […]
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