Home / Tag Archives: Permian Basin (page 10)

Tag Archives: Permian Basin

Midwest now ships more crude than it receives

The Midwest has become a net shipper of crude oil, reports the Energy Information Administration (EIA). Due to increased rail shipments and pipeline reversals, the Midwest region now ships out more crude oil than it receives. Without these rail movements, according to the EIA, the Midwest would still be a net recipient. Beginning in the first few months of 2013, ...

Read More »

Pioneer Natural Resources to ramp up drilling despite loss

Pioneer Natural Resources says it will ramp up its drilling program in the Permian Basin oil fields despite reporting a second quarter loss. The Irving-based energy company reported a second quarter net loss of $218 million, or $1.46 per diluted share. Without adjustments for noncash derivatives and other unusual items, income for the second quarter was $15 million after taxes, ...

Read More »

Permian’s biggest does more with less

A pump jack which produces oil from the Permian Basin in Artesia, New Mexico, is seen in this undated handout photo provided by Devon. REUTERS/Devon Energy/Handout via NewsCred

Executives of Occidental Petroleum Corp., on Thursday reported finding savings by extracting more oil for less money and reinvesting that money in the Permian Basin, where the company is the biggest oil producer in the region. Oxy, as the company is known, saved about $450 million by cutting costs during the first half of the year, and it channeled that ...

Read More »

West Texas won’t tolerate illegal dumping anymore

Illegal dumping from both individuals and energy companies have bogged down the Permian Basin for years now. County officials have noticed an upswing in illegally dumped waste including cars, tires, yard waste and oil and gas by-products, but NineWest reports that it won’t be tolerated for much longer. “There are some individuals and some companies as in any business, that ...

Read More »

Weatherford announces cuts to workforce

Weatherford executives on Thursday announced plans to further cut costs and lay off another 1,000 employees after shedding 10,000 workers earlier this year. The company will also close 30 more facilities this year in addition to 60 closed across North America in the first half of 2015. Weatherford officials did not specify the regions where those cuts would happen, leaving ...

Read More »

Drilling picks up in Permian Basin

Six months ago, 24-year-old Matt Soto stared at a white board and worried how long he would keep his job at Schlumberger. Soto escaped layoffs in the past six months and said things now look good from the ground floor. But industry indicators have taken a turn for the worse, bringing up renewed questions about an expected recovery. The overtime ...

Read More »