Companies throughout the Permian gather in Fort Worth
to explore cost-saving solutions
In search of efficiency-focused strategies and technologies, over 1,500 industry professionals packed the 2016 DUG Permian Basin conference and exhibition in Fort Worth, TX, May 23-25. Conference attendees heard from over 35 executive-level speakers in the event's pre-conference Midstream Program, main Upstream Conference and all-new Technology Showcase. And over 150 exhibitors gave hands-on demonstrations of solutions helping producers cut costs and maximize output.
The Upstream Conference's speaker lineup featured leaders from the Permian's most active producers, including Pioneer Natural Resources, Approach Resources, Three Rivers Operating Co., Elk Meadows Resources, WPX Energy and more. Presenters gave updates on their drilling programs and discussed efforts improve breakeven costs by cutting costs.
The pre-conference Midstream Program was led by executives from the Navitas Midstream Partners, EnLink Midstream, Joule Processing, Fluor USA, PetroCloud, among others. Sessions explored current midstream projects and plans to continue building infrastructure to support long-term upstream activity in the region.
The event's new Technology Showcase brought the latest solutions to the exhibit floor with case studies and live demonstrations from leading companies like Packers Plus Energy Services, Baker Hughes and Schlumberger.
Be sure to mark your calendars for the 2016 Executive Oil Conference, November 7-8 in Midland and DUG Permian Basin 2017, which will return April 3-5 to Fort Worth.
J. Ross Craft
Founder, Chairman, President and CEO Approach Resources
Chairman Petrie Partners
President Three Rivers Operating Co. LLC
President Matador Resources
Senior Vice President - Permian Basin EnLink Midstream
Founder, President and CEO Silver Hill Energy Partners
Chairman of the Board Energy Security Council
EQT Amasses More Marcellus Acreage For $680 Million With $2.2 billion of cash to spend, EQT Corp. (NYSE: EQT) said Oct. 25 it picked up a few things in the Marcellus Shale in deals that add 59,600 net acres and hundreds of locations to its portfolio.The bulk of the acreage, located in West Virginia and Pennsylvania, comes from Trans Energy (OTC: TENG) and affiliates of private E&P Republic Energy and other parties.The deals may be in response to Rice Energy Inc.’s (NYSE: RICE) $2.7 billion purchase of Greene County, Pa., acreage from Vantage Energy LLC.“EQT is answering investors' concerns on inventory after Rice's acquisition of Vantage Energy,” said Charles Robertson II, an analyst at Cowen and Co.
Clayton Williams Divests Eagle Ford For Permian Purity Another pure play Permian Basin company is born.Clayton Williams Energy Inc. (NYSE: CWEI) said Oct. 24 that it will sell its oily East Central Texas Giddings asset to an undisclosed party for $400 million.The transaction will free up capital for the company’s Delaware Basin holdings in Reeves and Ward counties in Texas. Some of the proceeds will also be used to pay debt.The Giddings Field produces about 3,900 barrels of oil equivalent per day (boe/d), 80% of which is oil. The deal will lop off about one-third of the company’s second-quarter 2016 production; Giddings’ proved reserves were 9.7 MMboe as of Sept. 30. The company has about 160,000 net acres in the field.