$300M Permian Basin Oil and Gas Sale Closes as Company Exits Eagle Ford
A $300 million sale of oil and gas assets on the western edge of the Permian Basin closed last week as the shale region continues its rise in production.
Callon Petroleum Company of Houstan said it closed on the acquisition of assets in the Delaware sub-basin from Percussion Petroleum Operation on July 5, a sale announced in May that say the company refocus its extraction efforts on the Permian.
Callon also sold off about $655 million worth of assets in the Eagle Ford region of southern Texas to Ridgemar Energy Operating, as Callon sought to divest of other basins and shift to a “singular focus” on West Texas and southeast New Mexico.
The Eagle Ford assets were on about 52,000 acres, producing about 16,300 barrels of oil equivalent per day (boed), at 71 percent oil.
Biden Administration Announces $650M to Plug Orphaned Gas and Oil Wells
The Interior Department announced Monday more than $650 million in Bipartisan Infrastructure Law funding to plug abandoned oil and gas wells.
The $660 million in funding, available to 27 states, will go toward the plugging of so-called orphan wells, or wells abandoned for extraction by the oil and gas industry.
Orphan wells are associated with major safety and health hazards, many of them associated with methane leaks. Methane is also a major driver of climate change, due to its capacity to trap more heat in the atmosphere than carbon dioxide.
The Environmental Defense Fund estimates about 14 million Americans live within a mile of an orphaned well. Separate research indicates such infrastructure particularly affects communities of color, which because of the practice of redlining host a disproportionate amount of urban gas and oil wells.
SA Fuel Distributor Bear Oil Company Expanding into Laredo
The development of the Gateway City and its South Texas surroundings has caused the petroleum industry to once again see the area’s potential for more development.
Bear Oil Company is a fuel and lubricant distributor throughout Central and South Texas that has looked to expand even further into the state’s southern plains. And the company recently hired Michelle Molina, who will be based in Laredo, to lead business development in South Texas and the coastal bend.
Molina will be based out of Laredo but primarily be focused on South Texas from San Antonio to the Kennedy and Eagle Pass areas.
Molina said that the petroleum industry is significant in the Laredo area and continues to only grow as more development and the need for commercial trade also increases locally. Therefore, redirecting development in the Laredo and South Texas areas has become an essential need.
EVolution Hybrid Hits The Great Supply Chain Brick Wall of China
Levi Perkins, Perkins Electric Innovations and Jason Spiess, founder of The Crude Life, discuss the roadblock known as the supply chain.
Perkins explains how the rare earth minerals and foreign imports have created a new issue in the economy. He specifically discusses the surge in EV Agriculture equipment.
Perkins attended a World Ag Show recently and was taken back by the number of EV Projects now existing in agriculture compared to last year.
“Last year at the show I do not recall any EV farm machinery or equipment,” Perkins said. “This year it’s all I can recall is the number of companies pitching EV services.”
Spiess specifically asks if this is policy driven rather than free market. Perkins believes so. The two discuss how the recent legislation has created a marketplace where dollars are directing who gets preferred treatment.”
“Are these companies showcasing multiple EVs or are they showing a prototype and hoping for orders?” Spiess asked.
“Prototypes mostly that I could see,” Perkins said. “In my opinion, based on what I’ve seen and experienced, I do think the Agriculture market got and is getting preferential treatment with the supply chain right now.”
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Podcaster Profile: The Krista Escamilla show is your weekly dose of motivation as our award winning host interviews guests who share their inspirational stories, highlights communities, paying it forward and making you smile!
Check out her latest podcast with Lisa Bounds.
On September 18, 2023 The Crude Life will host it’s Fourth Annual Podcast Party at the Energy Exposition being held in Jackson Hole, Wyoming. This year, three energy producing state governors will be joining us.
The Energy Exposition has educated tens of thousands of people in Gillette, Wyoming; Billings, Montana, and Loveland, Colorado, over the last 20 years on procedures, technology, safety, environmental practices, and equipment used in the oil and gas industry.
Exhibitors and Symposiasts represent a wide range of services, including but not limited to, exploration, production, downstream, and all phases of support to the oil and gas industry.
Energy Producing states Alaska Governor Mike Dunleavy, Oklahoma Governor Kevin Stitt and Wyoming Governor Mark Gordon will be attending this year’s expo and kick-off party.
To reserve Exhibit Space contact
Austin Jennings
239-898-3923
austin@energyexposition.com
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The Earth’s Champion Johnny Green is Cleanin’ and Johnny Greenin’ across America engaging with All Walks of Life.
The Greatest Environmentalist on Earth is spreading the word that “Renewables Ain’t Doable Without Fossil Fuelables”.
If you would like The Earth’s Champion Johnny Green and the 15-pounds of Eco-Authority to come to your event, school or town, contact The Crude Life for more info.
The Crude Life Daily Radio News & Lifestyle Update
Jim Willis, founder of the Marcellus Drilling News, gives an update on the Shell Ethane Cracker plant in Beaver County, PA.
The Crude Life Daily Update has been running as a 3-minute news and lifestyle short on radio stations since 2011. In 2015 online podcast portals and news outlets were added to the list of distributors.
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About The Crude Life
Award winning interviewer and broadcast journalist Jason Spiess and a team of Content Correspondents engage with the industry’s best thinkers, writers, politicians, business leaders, scientists, entertainers, community leaders, cafe owners and other newsmakers in one-on-one interviews and round table discussions.
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$300M Permian Deal, San Antonio Distributor Expanding, EVolution Hybrid and a Shell Ethane Cracker Update