Companies throughout the Permian gathered in Fort Worth to explore cost-saving solutions
In search of new efficiency-focused strategies and technologies, over 2,000 industry professionals packed the 2015 DUG Permian Basin conference and exhibition in Fort Worth, TX, May 19-21. Conference attendees heard from over 35 executive-level speakers in the event's pre-conference Midstream Program and main Upstream Conference. And over 170 exhibitors gave hands-on demonstrations of the newest products and services helping producers in the region cut costs and maximize output.
The Upstream Conference's speaker lineup featured leaders from the Permian's most active producers, including Apache Corp., Laredo Petroleum, Matador Resources, RSP Permian and RKI Exploration and Production. Presenters gave updates on their drilling programs and discussed efforts improve breakeven costs by cutting costs. During the event's luncheon, General Keith B. Alexander, one of the world's top cybersecurity experts, discussed the critical importance of protecting America's networks and infrastructure against foreign and domestic cyber-attacks.
The pre-conference Midstream Program was led by executives from the Texas Railroad Commission, EnLink Midstream, Crestwood Midstream Partners and Watco Companies, among others. Sessions explored current midstream projects and plans to continue building infrastructure to support long-term upstream activity in the region.
DUG Permian Basin 2015 may be over, but the conversation continues! Find out what other attendees and exhibitors are saying on Storify and Twitter. We want to hear about your experience too!
Founder, Chairman, President and CEO Approach Resources
Barry Thomas Smitherman
Former Chairman Texas Railroad Commission
Ronnie K. Irani
President and CEO RKI Exploration & Production LLC
President and COO Energy Transfer Partners LP
Chairman & CEO Laredo Petroleum
Gen. Keith B. Alexander
Retired, U.S. Army, and CEO & President IronNet Cybersecurity
CEO RSP Permian, LLC
Chairman Petrie Partners
President Three Rivers Operating Co. LLC
President Matador Resources
Vice President - Permian Basin Apache Corp.
Director of Commercial Development Delaware Basin Midstream LLC
Michael D. Bodino
Managing Director Global Hunter Securities
TransCanada: Heartland Line's Construction Delayed Construction on the Heartland Line from Edmonton, Alberta, to Hardisty is indefinitely delayed because the Keystone XL and Energy East systems it would supply are delayed, executives said, Bloomberg reported.
Study: Crude Prices On Track To Fall Further The growing worldwide oil surplus is a prelude to another price drop, and prices will continue to remain suppressed until there is evidence that the glut is shrinking, according to an IHS study released July 31.
Of course, the oil and gas industry has not been able to escape a difficult conundrum: Since the oil price collapse, global oil production has gone up, not down. Since the November 2014 OPEC meeting, aggregate production from the U.S., Saudi Arabia, and Iraq has increased 2 million barrels a day (MMbbl/d). That production number is far more than the global demand, IHS said, and in return the global glue has increased.
Prices in the U.S. have not yet fallen far enough, or for a long enough period of time, for an appreciable supply adjustment to occur. Yet IHS says such as equilibrium may not be far off, particularly if oil prices fall further with the availability of additional Iranian supplies.