Hart Energy held their yearly leader oil meeting Thursday at the Midland Area Horseshoe.
Other than the emphasis on systems administration at the meeting, it allowed industry leaders an opportunity to discuss the fate of the business and how that affects West Texas.
The main subject examined Thursday was mechanical advancement in the oil and gas industry and its conceivable future effects on positions in the Permian Bowl.
Any industry must adjust with the times and develop as the years go on. Hart Energy accepts too that.
“We’re really focused on what’s next. A lot of that is with the technological innovations becoming a lot more efficient. Drilling rigs can do a lot more wells a lot faster now. You don’t require as many rigs,” Hart Energy Executive Director Jordan Blum said. “When it comes to fracking, they’re doing more triple fracking in the same spots essentially. Getting a lot more efficient production volumes out of the wells. Not requiring as many holes in the ground, so to speak.”
Different advancements Blum referenced that were discussed were things like computer based intelligence and mechanized penetrating, which he said have gotten more productive and requires less individuals at the drill site. That additionally implies more secure working circumstances.
Be that as it may, Blum said regardless of whether these sort of advancements mean less positions to a great extent, the Permian Bowl is as yet doing all around well and the business is as yet recruiting without a doubt.
“The Permian is booming right now,” Blum said. “We’re at almost 6 million barrels a day of oil production out of the Permian, which is record high. That’s 45 percent of the total U.S. oil production, which is also at a record high of 13.2 million barrels a day that’s driven by the Permian. So things are really booming.”