[thackney]

ConocoPhillips to Cut Permian Basin Workforce in Half
http://permianbasin360.com/fulltext?nxd_id=242812
By: Mycah Glover
Updated: January 9, 2013

ODESSA — Some big news coming from oil giant ConocoPhillips regarding their business operations in the Permian Basin. When you do the basic math, what they’re basically doing is cutting their workforce here in the Basin in half. Here’s the breakdown.

As of now, they have roughly 400 employees located throughout the Permian Basin, 200 of which will be moved to Houston. The 100 employees they currently have in Odessa will be moved to Midland, and the Odessa office is being completely shut down. In the end, they’ll have roughly 100 workers in the Midland office , and around 200 total located throughout the Permian Basin.

ConocoPhillips communications director Jim Lowry tells me this is all part of internal reorganization. They’re basically splitting their Mid-Continent Business Unit assets into two business units. Lowry emphasized this will have no impact on their drilling operations in the Permian Basin.

We reached out to the Odessa Economic Development Director Guy Andrews. He says companies like ConocoPhillips are always reorganizing, and this move does not concern him. He added that he does not believe this is indicative of any kind of slow down in the current oil boom.

[Dusty Road]

Conoco is drilling like crazy on the South and Southeast part of the big ranch, their putting in a huge water flood system. Our wells in the area should benefit!

[thackney]

Permian Basin operators enjoyed strong, stable year in 2012
http://www.mywesttexas.com/business/oil/article_c9c8e6b9-c663-5c05-8aff-d0e01b166a19.html#ixzz2HZzSiCrq
December 27, 2012

Permian Basin oil and gas producers enjoyed another strong year in 2012, a year in which activity held relatively stable.

Crude prices reached triple digits in the spring before falling below $80 a barrel in the summer, recovering to around $85 by the end of the year. The Permian Basin remained a very active drilling region, with the rig count averaging about 400 rigs much of the year before moving lower as operators began emphasizing horizontal drilling and budgets emptied as the end of the year approached.

So much new production overwhelmed the region's infrastructure, sending the differential between West Texas Intermediate Midland and West Texas Intermediate Cushing to record levels. Midstream companies announced plans throughout the year to spend large amounts of money to build or expand pipelines in the Permian Basin to increase takeaway capacity. Operators say once additional capacity begins to come online, expected early in the new year, WTI Midland prices should start to close the gap with WTI Cushing.

So much activity has also sent area companies scrambling to find housing for their workers. Some operators are planning to build apartment complexes for their workers, along with portable housing and mobile home parks. A rise in traffic accidents also has companies joining together to implement safe driving programs.

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Shale fields in the Permian Basin: