• August 17, 2019

Odessa American: Oil News

Oil News

Historic horizontal well in Permian Basin completed

CARLSBAD, N.M. (AP) — 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.

Sunday 07/07/2019
Many pipelines becoming active soon
Posted: July 07, 2019

Plains All Americans’ Cactus II oil pipeline will be beginning its line fill this week, one of several pipelines expected to become operational by the end of 2019.

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Tuesday 07/02/2019
Conference talking Permian Basin water
Posted: July 02, 2019

Water is fundamental in the Permian Basin — not just for drinking, but for its use here in the oil and gas industry, and the challenges that water brings along will be discussed at a conference next month.

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Thursday 06/13/2019
Weatherford opens technology super center to increase cross training
Posted: June 13, 2019

Throughout history, the oil industry has experienced plenty of booms and busts.

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Sunday 03/10/2019
What will new refinery mean?
Posted: March 10, 2019

One of the first oil refineries to be built in the U.S. in several decades will be making its home in Kermit, and the hope is that its presence will bring down gas prices and help bring more jobs and housing to a crowded region.

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Tuesday 02/05/2019
Perryman optimistic about economic growth
Posted: February 05, 2019

Economist Ray Perryman gave a presentation at the Odessa Country Club Tuesday giving a five-year forecast on the Permian Basin economy, and said he was feeling very optimistic about the growth right now being driven by a booming oil and gas industry.

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Sunday 02/03/2019
PERRYMAN: A look at the affect of the tax cuts one year later
Posted: February 03, 2019

In 2018, provisions of the 2017 Tax Cut and Jobs Act went into effect. The Act simplified some aspects of the federal tax code and restructured tax rates with the purported goal of enhancing economic growth. In particular, the Act reduced the U.S. corporate tax rate from 35 percent to 21 percent.

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Thursday 01/31/2019
Conference tackling water, energy issues
Posted: January 31, 2019

The Permian Basin Water in Energy Conference is coming back after a successful year to once again look at the latest research on water and energy issues that could affect the regional economy.

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Thursday 01/24/2019
'Boomtown Alliance’ links Odessa, North Dakota
Posted: January 24, 2019

A new group has formed with the aim of linking oil businesses in the Permian Basin and Williston, N.D., with an event being held March 1 to commemorate the new alliance.

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Wednesday 01/16/2019
City says no to Liberty tax incentives
Posted: January 16, 2019

Liberty Oilfield Services asked the Odessa City Council to consider a deal that would provide the City with additional sales tax revenue in exchange for local tax incentives, a deal which was quickly shot down by city officials.

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Sunday 01/13/2019
Will 2019 mean boom or bust?
Posted: January 13, 2019

Go out to any gas station and it’s clear to see: fuel prices are dropping, and West Texas Crude Oil prices have been falling since October, which some experts say could mean the oil boom is about to bust.

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Sunday 12/02/2018
BUILDING PERMITS: Nov. 11 – Nov. 24, 2018
Posted: December 02, 2018

Building Permits is a listing of new residential, residential additions and alterations, commercial additions and alterations, commercial change of use and total values of construction projects in Odessa.

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Friday 10/26/2018
O'Rourke Petroleum expands to Odessa
Posted: October 26, 2018

O’Rourke Petroleum recently announced they have expanded their operations to the Midland-Odessa area.

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Friday 10/19/2018
Oil show comes to close
Posted: October 19, 2018

The Permian Basin International Oil Show has come and gone once again, and despite the rainy weather, officials are calling the show a success.

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Wednesday 10/17/2018
Oil show booming with innovation
Posted: October 17, 2018

Permian Basin International Oil Show exhibitors said they are driving industry innovation through improved technology and new services.

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Tuesday 10/16/2018
PBIOS welcomes attendees
Posted: October 16, 2018

Thousands of Permian Basin International Oil Show attendees have poured into Odessa seeking new products and partnerships, but PBIOS Executive Director Tony Fry said rain could impact overall attendance.

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Today’s the day for oil show
Posted: October 16, 2018

The Permian Basin International Oil Show has generated a wave of economic impact, and revenue projections show the biennial oil show matching, if not surpassing, that of 2016.

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Thursday 10/11/2018
Local, oil and gas economies growing
Posted: October 11, 2018

The Texas Permian Basin Petroleum Index is showing continued growth in the Permian Basin since plunging in 2016 and Petroleum Economist Karr Ingham of Amarillo said he expects that trend to continue for several years.

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Pipeline bottlenecks could create oversupply of sand
Posted: October 11, 2018

An increase of locally produced sand could contribute to an excess supply, affecting mine revenues, whenever drilling activity reduces its pace due to the logistics of bottlenecks in the Permian Basin, an oil and gas analyst at GlobalData said.

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Wednesday 09/05/2018
Lieutenant governor campaign stops in Midland
Posted: September 05, 2018

Lt. Gov. Dan Patrick stopped at Midland International Airport Wednesday on the campaign trail to stress his support for the booming oil and gas industry, Texas education and lower taxes.

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Friday 08/24/2018
New oil, gas product warehouse opening in Odessa
Posted: August 24, 2018

A new company that offers a line of products for both onshore and offshore oil and gas rigs has opened a new warehouse facility in Odessa.

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Tuesday 08/14/2018
Texas oil industry experts say Mexico's plan to halt fuel imports won't have immediate impact
Posted: August 14, 2018

After a dramatic spike in gasoline prices incited widespread protests in Mexico last year, then-presidential candidate Andrés Manuel López Obrador made a promise that caught the attention of Texas officials and the state’s oil and gas industry: The veteran left-wing politician vowed, if elected, to halt the import of gasoline and diesel from the United States and other countries by 2021.

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Thursday 07/12/2018
Charles Perry dies at 88
Posted: July 12, 2018

An engineer, an energy industry leader, a civil servant, a veteran, a football state champion and much more, Odessa’s Charles Perry died Thursday morning at Scott and White Medical Center in Temple. He was 88.

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Monday 06/25/2018
Sand mines, state partner on roads
Posted: June 25, 2018

The rush by frac sand companies to build West Texas mines started a year ago, and now, with 11 operational, one result is a surge of truck traffic concentrated on rural Texas roadways.

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Thursday 06/21/2018
Odessa oilman appointed to University Lands Advisory Board
Posted: June 21, 2018

The University of Texas System Board of Regents Wednesday appointed two new members with extensive experience in business and the oil and gas industry to serve on the University Lands Advisory Board.

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Monday 06/18/2018
Report: Oil giants’ goals require $30B Permian investment
Posted: June 18, 2018

Oil giants Exxon Mobil, Chevron and Royal Dutch Shell must ramp up spending to hit growth targets in the booming Permian Basin, spurring more consolidation and inflated oilfield services costs in the area, according to a new report released today from IHS Markit.

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Monday 05/14/2018
Oil show organizers: ‘We’re back’
Posted: May 14, 2018

Two years ago, organizers of the Permian Basin International Oil Show faced a rare challenge: exhibitors dropping out during a bust ahead of a fall show that typically draws tens of thousands of people and boosts the local economy.

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Wednesday 05/09/2018
Groups seek federal listing for Permian Basin lizard
Posted: May 09, 2018

Two conservation groups on Tuesday asked the federal government for protection of the dunes sagebrush lizard whose habitat has been disturbed by the Permian Basin frac sand mining boom.

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Tuesday 04/24/2018
‘Shale and Texas Energy’ lecture set
Posted: April 24, 2018

“Shale and Texas Energy: Past and Future” is the subject of the John Ben Shepperd Public Leadership Institute Distinguished Lecture at 7 p.m. Thursday at the Wagner Noël Performing Arts Center, 1310 N. Farm to Market Road 1788.

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Wednesday 04/18/2018
Texas regulator says "misunderstanding" is making millennials shun oilfield jobs
Posted: April 18, 2018

If you ask Wayne Christian, the biggest threat to the oil and gas industry in Texas is millennials — and a general public that's been brainwashed into thinking that fossil fuels are bad for the environment.

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Thursday 04/05/2018
City Pipe expands amid soaring pipeline demand
Posted: April 05, 2018

City Pipe and Supply Corp., one of Odessa’s oldest businesses, recently opened an $8 million new facility off South Highway 385 amid surging demand for parts the company sells to be used for the pipeline network moving oil and gas.

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Saturday 03/31/2018
UTPB gets boost for drilling fluid lab
Posted: March 31, 2018

The local and national chapters of the American Association of Drilling Engineers have pledged a total of $80,000 for the University of Texas of the Permian Basin’s petroleum engineering program.

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Friday 03/09/2018
At Houston energy conference, Texas is the focus of American oil optimism as the last bust fades
Posted: March 09, 2018

HOUSTON — Coming off the worst bust in decades, oil industry executives — particularly those doing business in Texas — are resoundingly upbeat about the business thanks to higher prices, new cost-saving technologies and projections of growing global demand. 

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Tuesday 02/27/2018
Society of Petroleum Engineers to host symposium
Posted: February 27, 2018

The University of Texas of the Permian Basin student chapter of the Society of Petroleum Engineers is hosting a symposium titled “Optimize the Unconventional” from 8 a.m. to 5 p.m. Friday at the Center for Energy and Economic Diversity, 1310 North Farm to Market Road 1788.

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Tuesday 02/13/2018
Oil and gas conference arrives in March
Posted: February 13, 2018

Roseland Oil and Gas will have a two-day convention for oilfield equipment and service companies starting March 7 at the Midland Horseshoe Pavilion.

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Wednesday 01/31/2018
UTPB dives into water, energy issues
Posted: January 31, 2018

The University of Texas of the Permian Basin will sponsor a conference in late February that dives into water and energy issues critical to the region and to the industry that drives its economy.

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Saturday 12/30/2017
072117_Sandamonium_08
Posted: December 30, 2017

Some parts of Hoggs Ranch sand dunes will be preserved as sanctuaries to protect the dunes sagebrush lizard like the area pictured here.

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072117_Sandamonium_02
Posted: December 30, 2017

A Hi-Crush Partners LP sand plant started operation in the location of where the former private park The Dunes at Kermit at the junction of Texas State Highway 151 and Farm to Market 874.

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Frac sand mines to open
Posted: December 30, 2017

A surge in demand for frac sand brought a wave of company announcements this year of plans to build sand mines in West Texas. But the effects of the frac sand mining boom won’t likely become clear until 2018.

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Friday 12/29/2017
Oil production beats record
Posted: December 29, 2017

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 higher.

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Wednesday 12/13/2017
Drop in Odessa unemployment leads state
Posted: December 13, 2017

Odessa’s unemployment rate continues to fall as the local economy continues to grow amid increased activity in the oilfield following a two-year bust.

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Friday 10/27/2017
Oil industry, lawmakers address frac sand boom
Posted: October 27, 2017

A year ago, prospectors quietly scouted sites on the dunes stretching from north of Kermit south toward Crane.

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Wednesday 10/25/2017
Living through the booms and busts in a West Texas oil town
Posted: October 25, 2017

Back when just about every oil pumpjack in town was running, Tara Smith had more work than she could handle. The West Texas native ran her own company, Dirty Ride Mobile Wash, going out into the oilfields to clean muddy tank trucks. With oil booming, she was booked day and night.

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Thursday 10/19/2017
Craddick talks second term
Posted: October 19, 2017

The Texas Railroad Commission is widely seen as a springboard for higher office, but after six years, the chair, Christi Craddick, says she wants to keep her job at the powerful agency regulating oil and gas.

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Friday 10/13/2017
Economists: Tax cuts will boost economy
Posted: October 13, 2017

Economists Steve Moore and Ray Perryman agreed that tax cuts stimulate the economy and that the Permian Basin holds the future of energy production in its hands during their John Ben Shepperd Public Leadership Institute presentation Thursday evening, “Accelerating U.S. Economic Growth: How the Permian Basin Can Help.”

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Friday 10/06/2017
Permian Basin, national rig counts fall
Posted: October 06, 2017

The rig count in the Permian Basin decreased by two in the week ending Friday, the latest count by Baker Hughes shows, with 383 rigs active in the region.

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Friday 09/29/2017
Permian Basin rig count declines by one
Posted: September 29, 2017

The rig count in the Permian Basin decreased by one in the week ending Friday, the latest count by Baker Hughes shows, with 385 rigs active in the region.

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Friday 09/22/2017
Permian Basin gains six rigs
Posted: September 22, 2017

The rig count in the Permian Basin increased by six in the week ending Friday, according to the latest count by Baker Hughes, with 386 rigs active in the region — all drill primarily for oil.

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Thursday 09/21/2017
Texas railroad commissioner wants AG to weigh in on board chair's actions
Posted: September 21, 2017

Editor's note: This story has been updated with a statement from Railroad Commissioner Wayne Christian.

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Tuesday 09/19/2017
Region’s first sand mine ramps up
Posted: September 19, 2017

Workers at Hi-Crush man heavy machinery in a pit at the region’s first sand mine, excavating an increasingly precious resource for an oil industry that sees the local sand as a way to lower the costs of Permian Basin oil wells.

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Friday 09/15/2017
Permian Basin rig count drops gains of previous week
Posted: September 15, 2017

The rig count in the Permian Basin decreased by two in the week ending Friday, according to the latest count by Baker Hughes, with 380 rigs active in the region — all drill primarily for oil.

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DAILY OIL PRICE: August 16

  • Crude Oil: 54.87 (+0.40).
  • Nymex MTD AVG:  54.5956.
  • Natural Gas: 2.200   (-0.032).
  • Gasoline: 1.6568   (+0.0204).
  • Spreads: September/October   (+.06)   October/November   (+.39).
  • Plains WTI Posting: 51.25   (+0.25)
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