Oil Industry Insights

The days of wildcatters are fading. Today, firms like Blackstone and KKR control the oil patch with a focus on 'capital discipline.' Explore the shift from growth to free cash flow, the pressure to sell to majors, and why companies are 'going dark' to avoid public scrutiny.

Deep dive into the Hunt, Bass, and Cullen families. Trends in wealth transfer, from mineral trusts to sophisticated family offices. Why 'old money' families like the Montoyas operate differently than new wildcatters. The shift from drilling to capital allocation.

The midstream sector connects upstream production to downstream refining. In 2024, the Matterhorn Express (2.5 Bcf/d) came online to ease Permian Basin bottlenecks. The Keystone XL controversy shows how pipelines become political flashpoints. Understanding midstream is key to understanding the full oil industry picture.

When oil booms hit, communities transform overnight. Midland's population hit 148K in 2025 with median home prices at $477K and rents climbing 18%. Despite population growth, crime is actually DOWN 10%. The $119B economic impact brings prosperity—but also strain on schools, hospitals, and infrastructure.

From 'Christmas trees' to 'doghouses,' this comprehensive dictionary covers 60+ essential oil field terms. Learn the language of roughnecks, drillers, and landmen. Terms marked with 📺 are frequently used in the Landman TV series—listen for them during episodes!

Oil and gas leases are the legal foundation of petroleum production. Key terms include bonus payments ($50-$7,500/acre), royalty rates (12.5%-25%), primary/secondary terms, and retained acreage clauses. Understanding these provisions is essential for mineral owners negotiating with landmen like Tommy Norris.

Landman was primarily filmed in Fort Worth, not West Texas, yet achieves 8.7/10 authenticity through roughneck camp training and co-creator Christian Wallace's lived experience. Actors worked real rigs for 3 days, learning from actual roughnecks. The show accurately depicts $100K salaries, $1,500 apartments, man camps, 12-hour shifts, and the deadly dangers claiming 2+ workers monthly in the Permian Basin.

The Cooper Norris drilling rig explosion in Landman's premiere depicts a catastrophic surface equipment failure. More than 2 workers per month die from explosions in the Permian Basin. The scene earns an 8.5/10 realism score - rusted equipment, wrong tools, time pressure, and ignored warning signs are documented factors in actual OSHA-investigated fatalities.

The oil industry employs nearly 12 million workers worldwide across diverse roles: landmen, geologists, engineers, field operators, and executives. Career paths range from technical specializations to management positions. The industry offers competitive salaries, with landmen earning $50,000-$200,000+ annually. Professional certifications like RPL and CPL enhance career prospects.

The oil industry faces increasing pressure to reduce emissions and adopt clean technologies. Companies are investing in carbon capture, renewable energy, and emission reduction technologies. The industry's own emissions need to decline by 60% by 2030 to align with climate goals. Water management, air quality monitoring, and site reclamation are key environmental considerations.

Oil prices are determined by complex interactions of supply and demand, geopolitical events, OPEC decisions, and technological advances. The Permian Basin can now compete economically at $40-50 per barrel due to technological improvements. Price volatility directly impacts drilling activity, employment, and regional economies, as seen throughout Landman's storylines.

Horizontal drilling and hydraulic fracturing have revolutionized oil extraction from tight rock formations. Wells now drill horizontally over 10,000 feet compared to 4,000 feet in 2010. Multistage hydraulic fracturing creates fractures in rock at high pressure, allowing oil and gas to flow. These technologies have made previously uneconomical reserves profitable.

The Permian Basin spans 75,000 square miles across West Texas and southeastern New Mexico, containing multiple stacked shale formations. It's the largest recoverable oil field in the US and second-largest globally, producing over 5 million barrels per day. The basin's unique geology includes the Delaware and Midland sub-basins with layer-cake shale formations.

Landmen are key players in the oil and gas industry, responsible for acquiring drilling rights, negotiating lease agreements, and managing land interests. They perform title research, negotiate business agreements, determine mineral ownership, and manage rights derived from mineral interests. The profession requires expertise in law, geology, and business negotiations.