American Oil and Gas Reporter - April 2018 - 95

IndustryDigest
1970s when the statewide annual
production record was set," Ingham
reveals.
"In addition," he observes, "the
posted price for crude oil in Texas
jumped more than $6 a barrel compared
with December to average more than
$60 a barrel for the first time since
November 2014."
Among the highlights of the January
TPI:
* The value of Texas-produced
crude oil amounted to nearly $7.2
billion, 48.8 percent more than in
January 2017.
* Texas natural gas output increased
2.7 percent compared with January
2017 to nearly 665.9 billion cubic feet.
With natural gas prices averaging $3.62
an Mcf in January, the value of Texasproduced gas increased 16.4 percent to
$2.4 billion.
* The Baker Hughes count of active
drilling rigs in Texas averaged 456
units, 35.7 percent more than in January
2017.
* An estimated average of 226,200
Texans remained on upstream oil and
gas industry payrolls, 15.5 percent more
than the revised average of 195,900 in
January 2017, but 23.4 percent fewer
than the estimated high of 295,200 in
December 2014. r

well as a growing roster of new
startups interested in exhibiting at this
year's show.
"Everyone in the industry realizes
that these company mergers create a
demand for unified exhibit locations,
whereas the legacy companies may have
been in separate locations. There also is
a pronounced influx of inquiries this
year from newly formed companies
requesting information about the
availability of exhibit space," Fry
elaborates, noting that show officials are
fielding requests from potential new
exhibitors from across the nation as
well as those asking for larger exhibit
spaces throughout the vast show
grounds.
PBIOS President Stephen Castle,
owner and president of Cowboys
Resources Corp., presides over the
200-member volunteer PBIOS Board
of Directors and Executive Committee.
He notes that nearly all of these
individuals are coping with increased
workloads as firms throughout the
Permian and surrounding areas
increase the pace of activity. "With the

March 29 Baker Hughes rig count
showing 443 rigs turning to the right in
the Permian Basin, compared with 319
last year, we certainly are aware that
industry events showcasing the latest
technology from all industry sectors
are going to experience increased
attendance levels. We are preparing for
one of the busiest PBIOS events in
recent history," he observes.
Castle announces that the executive
committee, who traditionally have worn
trademark brown blazers, will be
recognized more easily at the 2018
PBIOS in new blue jackets with highlyvisible oil show emblems. The updated
jackets are designed to help exhibitors
and attendees recognize individuals
strategically located at show ground
entry gates and throughout the exhibit
areas. Castle also notes that there again
will be information booths immediately
inside the show ground entrances to
provide attendees with details on
PBIOS as well as general information
about the Odessa and Midland area.
Fry indicates a smart new PBIOS
app is in development to dovetail with

Thriving Permian Basin
Prompts Strong Interest
In 2018 PBIOS Event
With U.S. onshore rig counts and
drilling permits continuing to show
significant year-to-year increases,
Permian Basin International Oil Show
officials say they are preparing for what
may be one of the event's highest
attendance levels in more than a decade.
The 2018 PBIOS is scheduled for Oct.
16-18 at the Ector County Coliseum and
Fairgrounds in Odessa, Tx.
The Permian Basin has led the
recovery in the domestic oil and gas
market, accounting for more than 40
percent of the total number of active
U.S. rigs through the first quarter of
2018. With the entire industry focusing
on the Permian, PBIOS Executive
Director Anthony "Tony" Fry notes
that the 2014-17 industry downturn
and ongoing recovery have resulted
both in a number of new entities, as a
result of mergers and acquisitions, as
APRIL 2018 95


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American Oil and Gas Reporter - April 2018

Table of Contents for the Digital Edition of American Oil and Gas Reporter - April 2018

Contents
American Oil and Gas Reporter - April 2018 - 1
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