A great article appears in the March Section Report of the Oil, Gas and Energy Resources Law section report, by Jacqueline Weaver, Professor Emeritus, University of Houston Law Center: “The Railroad Commission’s New Duties to Keep Texans Warm: Winter Storm Uri Forces Change.” Here are some excerpts: The throughput of…
To better understand the recent news about the precipitous drop in crude prices, it is helpful to review the global picture of world oil production and consumption. (click on images to enlarge.) In 2018, the US produced 18% of total world oil production, the most of any country. If Saudi…
I highly recommend a podcast sponsored by Texas Monthly, Boomtown. It’s a series about the history of the Permian Basin and the people who live and work there in the recent boom. Its host is Christian Wallace, who grew up in Andrews. You’ll get to meet his grandmother, who still…
Happy New Year. The decade now ending was the decade of the Permian Basin. Its rise in production changed the US to a net oil exporter. Permian gas production, a byproduct of the search for oil, drove down gas prices and resulted in a frenzied effort to build pipelines to…
A couple of years ago I wrote about the history of Texas Pacific Land Trust (TPLT), one of the largest landowners in Texas. The trust was formed out of the bankruptcy of Texas Pacific Railroad, which received 3.5 million acres of land in West Texas in consideration for building the…
Below is a Drillinginfo map of players in the Permian. Also see Forbes article here. Chevron’s position is derived from Texas Pacific Land Trust‘s spinoff of minerals under TPLT’s lands, subsequently acquired by Texas. It owns fee minerals in those lands. Click on image to enlarge. As Forbes says, ripe…
The big guys are moving into the Permian Basin. Chevron, which owns substantial fee minerals in the Permian, saw its profits jump 19 percent in the fourth quarter, increasing its oil production 71 percent in the Permian to 310,000 bbls/day. Chevron’s completions in 2018: In its DR State Wise Unit…
Wade Caldwell, San Antonio attorney and President of NARO-Texas, published the article below in the recent NARO newsletter. He has kindly allowed me to republish it here. And Happy New Year. The Take Away By: Wade Caldwell, President, NARO-Texas Two thoughts (or takeaways) on one of the most flexible words…
Peter Huddleston, President of Huddleston & Co. and a prominent petroleum engineer and a friend, agreed to report on the status of shale plays in Texas at our firm’s land and mineral owner seminar on November 9. He kindly agreed to let me use some of his slides. You can…
An Encana well pad in the Permian: Here is another, EQT’s Cogar pad in the Marcellus: Article from Post Gazette on mega pads in the Marcellus here.