What's Working, What's Not & What's Next for Permian Producers
At ~$40 WTI, West Texas' Permian could very well be the last basin standing. With superior wellhead economics and a deep bench of productive formations, the Permian Basin has become a safe haven for many E&Ps. But even the nation's most prolific oil province is challenged by the current downturn.
Armed with efficiency-focused technologies and strategies, producers are digging deep to protect margins.
If your business is oil and gas in West Texas, you can't afford to miss this year's DUG Permian Basin conference and exhibition! Thousands of industry professionals are converging in Fort Worth to hear from the region's most-active producers and midstream operators. Don't miss this once-a-year chance to explore the latest strategies and technologies with 35+ senior-level speakers and 100+ exhibitors.
Plays covered: Wolfcamp, Spraberry, Bone Spring, Leonard, Avalon, and Yeso
EVP, Permian Operations Pioneer Natural Resources
Q: How is your company navigating today's market challenges and capitalizing on opportunities?
A: Pioneer has the largest Spraberry/Wolfcamp acreage position with decades of drilling inventory. We are well positioned to weather the current low commodity price environment with a strong balance sheet, strong derivatives positions to protect cash flow through 2016, and a capital program funded through 2017 with no incremental debt required.
In response to the outlook for continuing weak oil prices, Pioneer is reducing its horizontal drilling activity by 50% while still growing 2016 production and preserving the company's strong balance sheet and cash position. Our Permian team has realigned to meet the challenges of this downturn and position itself to be the strongest operation in the basin when commodity prices return.
Free Exhibit Hall Access for Operators
Hart Energy invites employees at E&P companies, pipeline operators, refineries and utility companies to enter the DUG Permian Basin exhibit hall at no cost. Plus, you have the option to upgrade to a full conference pass to attend the 15+ conference sessions.
To submit your qualifying application and register, click here.
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
Highlands Enters Farm-in To Drill Niobrara Wells Highlands Natural Resources entered into a farm-in agreement in Colorado with Renegade Oil & Gas Co. LLC to drill up to six horizontal wells in acreage prospective for the Niobrara Shale, the company said July 25.Highland will pay $500,000 to Renegade in the transaction, consisting of an initial payment of $250,000 for the right to drill the first two wells and a second payment of $250,000 for the following four wells, which will be paid when drilling on the third well begins.Highlands is not obliged to drill any well until it has secured third-party financing.
Update: Husky Oil Spill Reaches Second Canadian City An oil leak from a Husky Energy Inc. pipeline into a major Canadian river has forced a second city in the province of Saskatchewan to stop drawing drinking water, officials said on July 25, widening the impact and cost of the spill.The heavy oil and diluent leaked from Husky's Saskatchewan Gathering System pipeline on July 21 and flowed into the North Saskatchewan River, which supplies drinking water to several communities in the Western Canadian province.On July 25, the oil reached Prince Albert, a city of 35,000 people, hours earlier than expected. Workers there raced to stretch a 30-kilometer (19-mile) hose to draw drinking water from another source.