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
Devon, BPX to End Legacy Eagle Ford JV After 15 Years
2025-02-18 - The move to dissolve the Devon-BPX joint venture ends a 15-year drilling partnership originally structured by Petrohawk and GeoSouthern, early trailblazers in the Eagle Ford Shale.
E&Ps Pivot from the Pricey Permian
2025-02-01 - SM Energy, Ovintiv and Devon Energy were rumored to be hunting for Permian M&A—but they ultimately inked deals in cheaper basins. Experts say it’s a trend to watch as producers shrug off high Permian prices for runway in the Williston, Eagle Ford, the Uinta and the Montney.
Ring May Drill—or Sell—Barnett, Devonian Assets in Eastern Permian
2025-03-07 - Ring Energy could look to drill—or sell—Barnett and Devonian horizontal locations on the eastern side of the Permian’s Central Basin Platform. Major E&Ps are testing and tinkering on Barnett well designs nearby.
Expand Lands 5.6-Mile Lateral in the Utica in Five Days
2025-03-11 - Expand Energy reported its Shannon Fields OHI #3H in northern West Virginia was drilled with just one bit run in some 30,000 ft.
Huddleston: Haynesville E&P Aethon Ready for LNG, AI and Even an IPO
2025-01-22 - Gordon Huddleston, president and partner of Aethon Energy, talks about well costs in the western Haynesville, prepping for LNG and AI power demand and the company’s readiness for an IPO— if the conditions are right.
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.