Permian Executives Pack the 2015 Executive Oil Conference
This November, 1,000+ attendees, 50+ exhibitors and 35 sponsors converged in Midland, Texas for Hart Energy's annual Executive Oil Conference. Themed "Permian Powers On," the speaker lineup featured 17 executives and industry leaders who have uniquely informed perspectives on what it takes to succeed in the nation's premier oil province. Attendees had the opportunity to explore profitable business strategies designed for today's market and the latest efficiency-focused technologies.
Preceding the event, attendees engaged in small group discussions during golf tournaments at the Ranchland Hills and Odessa Country Clubs. Following the tournaments, attendees, speakers and local business leaders gathered for the Energy Executive Dinner featuring the Hearst Energy Awards. Award recipients include:
Technology: Hess Corp.
Advocacy: Texas Railroad Commissioner, Christi Craddick
Company Performance: RSP Permian
Environmental Excellence: Approach Resources
Lifetime Achievement: Rosalind Redfern Grover
The conference may be over, but the conversation continues on Storify and Twitter. Find out what other attendees and speakers are saying. We would love to hear about your experience too!
Mark your calendars! The Executive Oil Conference will return to the Midland County Horseshoe Pavilion November 7-8, 2016. Also, plan now to attend Hart Energy's DUG Permian Basin conference and exhibition in Fort Worth, May 23-25.
Permian Boosts Sand Demand With Longer Laterals Sand use and proppant volumes are rising in the Permian as operators push lateral length in the Delaware Basin.Operators appear to be de-emphasizing Bone Spring targets in Lea and Eddy counties, N.M., and emphasizing Wolfcamp Shale targets utilizing longer laterals in Culberson, Loving, and Reeves counties, Texas.Otherwise, operators remain committed to slickwater plug and perf for the time being as the most cost effective way to convert hydrocarbon reserves to production.In some cases sand volume has increased to 16 million pounds per lateral, or more than 1,800 pounds per linear foot on extended reach laterals.Overall, sand use grew to 12.5 million pounds per lateral in Hart Energy’s Heard In The Field survey. This is a sharp jump vs. 90 days ago among survey participants.Other than rising sand volumes and an increase in linear gel for longer laterals, completion techniques remain similar to the last survey 90 days ago.The preferred recipe overwhelmingly involves slickwater plug and perf on stage spacing of 200 feet to 250 feet with four perforation clusters and anywhere from 1,200 to 2,000 pounds per linear foot of sand as proppant.Survey respondents anticipate a return to batch completions as the industry recovers. Indeed, zipper fracks grew from 35% of completions 90 days ago to 41% in the current survey and are expected to rise as a share of completion activity if commodity prices hold firm.Watch for the next Heard In The Field report on the Permian Basin downhole completions market in September.
Denbury Resources Dumps Noncore Assets In Rare Williston Basin Deal Denbury Resources Inc. (NYSE: DNR) entered into an agreement to sell its remaining noncore assets in the Williston Basin of North Dakota and Montana, the company disclosed in SEC filings.In the divestiture, subsidiary Denbury Onshore LLC will sell production of about 1,350 barrels of oil equivalent per day (boe/d), 96% oil, for $58 million. Denbury Resources’ total production in first-quarter 2016 was 69,351 boe/d.A&D activity in the Williston has been spotty for much of 2016 with less than one deal announced per month. The largest deal so far this year was the $73 million acquisition of bankrupt Emerald Oil Inc.’s assets in the Bakken.