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by Bloomberg
|Monday, March 01, 2021
The battered and bruised US shale industry is finding a resurgence in one of the most unlikely places.
(Bloomberg) The battered and bruised U.S. shale industry is finding a resurgence in one of the most unlikely places: private operators most investors have never heard of.
Take the case of little known, closely held DoublePoint Energy. It’s now running more rigs in the Permian Basin than giant Chevron Corp. Meanwhile, family-owned Mewbourne Oil Co. has about the same number of rigs as Exxon Mobil Corp.
That’s emblematic of what’s happening across the industry. Once minor players, private drillers held half the share of the horizontal rig count as of December. It’s the first time in the modern shale era that they have risen to the level of the supermajors.
The American Petroleum Institute and the Louisiana Mid-Continent Oil & Gas Association have announced that two new educational institutions have joined API s Minority Serving Institution initiative.
The American Petroleum Institute (API) and the Louisiana Mid-Continent Oil & Gas Association (LMOGA) have announced that two new educational institutions have joined API’s Minority Serving Institution (MSI) initiative.
Southern University and A&M College and Grambling State University have now become official participants in the initiative, which makes API’s standards freely accessible to students at Historically Black Colleges and Universities (HBCUs) and other Minority Serving Institutions (MSIs). The initiative has a mission to develop and promote diversity, equity, and inclusion in the natural gas and oil industry workforce by providing API’s industry standards catalog to accredited higher education institutions, the API highlights.