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Permian Shale News

The oil and gas industry’s data problem

If the oil and gas industry wants to get a handle on the massive amount of data it produces globally, it is going to need Silicon Valley, according to James Dupree, the chief operating officer of resource development and technology at BP. Fuelfix reports that Dupree emphasized the connection during his opening talk at the 2015 Offshore Technology Conference (OTC) ...

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Denton fracking bill sails through Texas Senate

Texas Senate

With little discussion, the Texas Senate approved a bill Monday limiting municipal control over oil and gas drilling and prohibiting any city from banning fracking. The Senate voted 24-7 for House Bill 40 — also known as the Denton fracking bill. It reasserts state control over drilling while spelling out some limited powers that cities have in regulating surface operations. ...

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Two small quakes shake North Texas

Two small earthquakes rattled North Texas Sunday, but as usual no major damage was reported. Initially, the U.S. Geological Survey reported that the first quake, at 10:11 a.m. Sunday about 2 miles north of Irving, had a magnitude of 3.1 magnitude. A few minutes later, it was upgraded to 3.2. Then at 4:12 p.m. a 2.5-magnitude quake was reported about ...

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Houston: What oil slump?

Oil prices have yet to damper the Houston area’s economic optimism, KHOU reports. According to responses to Rice University’s annual Kinder Houston Area Survey, positive ratings of local job opportunities jumped from 60 percent in 2014 to 69 percent today. Rice University sociologist Stephen Kline said the opinions expressed accurately reflect the area’s unemployment rate; from February 2014 to February ...

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CEO steps up to the plate and claims the Permian Basin is still in early innings

Pioneer Natural Resources CEO Scott Sheffield claims that the Permian Basin is only in the “second or third inning” of its career. The Permian has two important horizons, the eastern side and the western side.  On each side, the Spraberry and Wolfcamp formations exist.  According to Sheffield, the eastern side of the basin has an estimate 75 billion barrels of ...

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Feds OK $73M settlement in WIPP leak

In a landmark settlement, the Department of Energy has agreed to fund infrastructure projects in New Mexico worth $73.25 million to resolve fines connected with last year’s radiation leak at the Waste Isolation Pilot Plant. The New Mexico Environment Department levied the largest-ever fines against the federal government in December — $54 million — over permit violations at the WIPP ...

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WPX Energy’s ‘walking’ rig debuts in Lybrook

FARMINGTON — Drilling rigs can now “walk.” Originally planned for operations in the San Juan Basin, WPX Energy debuted the “Aztec 1000” rig in the Piceance Basin in Western Colorado in 2013. Last month the apple-red rig arrived in Lybrook, in the San Juan Basin, to begin oil drilling operations for WPX Energy. The “Aztec 1000” rig can “walk” from ...

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