Clay Gaspar, president and COO of WPX Energy, sat down with Jessica Morales at the recent DUG Permian conference and exhibition in Fort Worth, Texas, to share what he thinks are the positives as well as concerns about operating in the Permian Basin. “The key to being the top basin is starting with the right geology. Is the rock right?” Gaspar said. He also believes there is a lot of resource in the Permian to turn from inventory into value, and that it’s proven from the Midland and Delaware basins.
The topic of infrastructure remains on the minds of the players in the Permian. “It is a real challenge,” Gaspar said. He shared his concerns about the three things he thinks could “derail the industry” or be an issue in the Permian, including commodity prices, supply chain and midstream challenges. “The Permian is the place to be. There is a reason the rig count is doing what it is.” All good to see he said, but “we just have to manage that.”
Additionally, Gaspar explained WPX 2.0 and how the company moved from essentially an “all gas company to almost an all oil company,” reformatting their organization.
Recommended Reading
ONEOK Offers $7B in Notes to Fund EnLink, Medallion Midstream Deals
2024-09-11 - ONEOK intends to use the proceeds to fund its previously announced acquisition of Global Infrastructure Partners’ interest in midstream companies EnLink and Medallion.
Solaris Stock Jumps 40% On $200MM Acquisition of Distributed Power Provider
2024-07-11 - With the acquisition of distributed power provider Mobile Energy Rentals, oilfield services player Solaris sees opportunity to grow in industries outside of the oil patch—data centers, in particular.
Talos Ups Buybacks, Pays Down Debt Post $1.29B QuarterNorth Deal
2024-07-22 - Talos Energy said it repaid $325 million in debt since closing its $1.29 billion cash-and-stock acquisition of E&P QuarterNorth in March.
Archrock Offers Common Stock to Help Pay for TOPS Transaction
2024-07-23 - Archrock, which agreed to buy Total Operations and Production Services (TOPS) in a cash-and-stock transaction, said it will offer 11 million shares of its common stock at $21 per share.
The ABCs of ABS: Financing Technique Shows Flexibility and Promise
2024-07-29 - As the number of ABS deals has grown, so have investors’ confidence with the asset and the types of deals they are willing to underwrite.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.