The upstream oil and gas industry has had its share of ups and downs over the past few years. As oil prices continue to climb, the industry is starting to see renewed optimism in this sector.
Increased investment on the E&P side of oil and gas has spurred a lot of activity. Companies are hiring employees, buying equipment and finding the support services to help them extract hydrocarbons. The entire upstream oil and gas industry is not necessarily booming, however. There are winners and losers even as oil prices make their way to levels we haven’t seen in years.
At the moment, the Permian basin appears to be the big winner. Operators of every size are clamoring for a piece of the action. The region is well known for rewarding companies with efficient operations. Those with less control over their expenses, efficiencies or attention to safety tend to fare more poorly.
According to the U.S. Energy Information Administration, “Texas crude oil production averaged 3.5 million b/d in 2017 and reached a record high monthly level of 3.95 million b/d in December 2017. Texas’s 2017 annual production increase of nearly 300,000 b/d — driven by significant growth within the Permian region — was more than all other states and the Federal Gulf of Mexico combined.”
While these numbers still haven’t recovered to pre-downturn levels, the Texas Railroad Commission reported that the Permian Basin has had 2,460 drilling permits filed between January and April of 2018.
As the oilfield enters this new phase of its life cycle, there is probably no better time for producers, manufacturers and oilfield service companies to share information. These groups have been sharing information about the Permian Basin since 2006 at Hart Energy’s DUG Permian Conference.
About Hart Energy’s DUG Permian Conference
Founded in 2006, the DUG brand was Hart Energy’s response to the increasing complexity of developing unconventional hydrocarbons. While DUG originally stood for “Developing Unconventional Gas,” the conference has evolved to cover unconventional oil and gas plays in a more general sense. The event explores the new processes and technologies that help oilfield companies operate in this modern environment.
All of the DUG conferences (DUG Midcontinent, DUG Rockies, and the list goes on) are produced with an enormous amount of input from the men and women working and operating in the various fields that each of the conferences cover.
Attendees for DUG conferences range from major E&P companies, oilfield service companies, tech companies, policy makers and government officials and everything in between. The spirit behind the conference is to improve the industry as a whole and keep operations running as safely and efficiently as possible. Organizers know the industry can do this by employing the most cutting edge-technology and the most efficient processes.
Visit the SitePro Booth at DUG Permian 2018
SitePro is a proud supporter of Hart Energy’s DUG Permian Conference. We will be offering information about our state-of-the-art automation technology, which helps companies increase efficiency with accurate asset information in real time. Remote activation of critical path equipment saves our clients time and money while reducing the risk and severity of incidents in the oilfield.
If you will be at the DUG Permian Conference and Exhibition in Fort Worth May 21 to 23, please plan on stopping by booth 536. We can explore the problems unique to your operations, and walk you through how SitePro would approach building a custom solution for your challenges. We will also have a few prizes and giveaways if you’re looking to round out your collection of branded conference souvenirs.