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
3Q 2016 Features Highest Number Of Added Rigs Since 2014 U.S. drillers in the third quarter added the most oil rigs of any quarter since 2014, according to a closely followed report on Sept. 30, but the pace of additions has slowed as crude holds below $50 a barrel (bbl) despite OPEC's first plan in eight years to cut output. Drillers added seven oil rigs in the week to Sept. 30, bringing the total rig count up to 425, the most since February but still below the 614 rigs seen one year ago, energy services firm Baker Hughes Inc. said. For the quarter, they added 95 rigs, the most since drillers added 105 rigs in the first quarter of 2014. The oil rig count plunged from a record high of 1,609 in October 2014 to a low of 316 in May after crude prices collapsed in the steepest collapse in a generation due to a global oil glut. That decline continued through the first half of this year when drillers cut 206 rigs.
Midstream A&D Pipes Up: 48 Hours, $3.8 Billion In Deals After a relatively quiet 2016 for midstream transactions, the sector wrenched out multiple pipeline deals in a two-day span as the third quarter comes to a close.Midstream deals totaled more than $3.8 billion in the last week of September.Among them: Detroit utility DTE Energy said it would pay $1.3 billion to purchase midstream assets that connect the southwest Marcellus and dry Utica to markets in Michigan, Ohio, Chicago and Ontario, Canada.