Texas production in December 2015 came from 184,829 oil wells and 90,182 gas wells AUSTIN, -Production for December 2015 as reported to the Railroad Commission of Texas (Commission) is 74,575,286 barrels of crude oil and 625,413,983 mcf (thousand cubic feet) of total gas from oil and gas wells. These preliminary figures are based on production […]
Texas oil and gas production statistics for December 2015 Read More »
“…achieved significant reductions in our finding and operating costs and substantially increased the size and the quality of our inventory” EOG Resources, Inc. has reported a fourth quarter 2015 net loss of $284.3 million, or $0.52 per share. This compares to fourth quarter 2014 net income of $444.6 million, or $0.81 per share. For the full
EOG Resources loses $4.5 billion in 2015 Read More »
Oil prices rise, natural gas prices fall NEW YORK _ U.S. stocks are edging higher in midday trading on corporate earnings news and rising oil prices. Utilities made the biggest gains. Mining companies rose with the price of gold. KEEPING SCORE: The Dow Jones industrial average gained 46 points, or 0.3 per cent, to 16,686
US markets rise with oil prices and gold glimmers again Read More »
Cheap natural gas spawning a wave of petrochemical plants NEW ORLEANS – An environmental watchdog group cautions that the nation’s boom in cheap natural gas, often viewed as a clean energy source, is spawning a wave of petrochemical plants that, if built, will emit massive amounts of greenhouse gases. The Washington-based Environmental Integrity Project says hydraulic
Cheap natural gas leads to more petrochemical plants, pollution – environmental group Read More »
American Petroleum Institute had estimated US crude oil stocks increase at 7.1 million barrels New government data on crude oil inventories released last week show a much smaller increase than industry statistics, according to Platts News. US commercial crude oil inventories increased 3.502 million barrels to 507.607 million barrels in the week that ended Friday, according to US EIA
US crude oil inventories rise by 3.5 million barrels – Platts Read More »
Canadian renewable energy drop due to lack of clean energy regulations Canada is dropping behind its major trading partners in renewable energy investment, according to a study from a clean energy advocacy group. Merran Smith of Clean Energy Canada suggests government-set targets and goals for wind and solar power in regional energy grids is the best
Iraq asked oil companies to reduce 2016 spending at southern oil fields because government has struggled to maintain payments Iraq was the second-leading contributor to the growth in global oil supply in 2015, behind only the United States, according to the US Energy Information Administration. Crude oil production in Iraq, including fields in the Kurdistan Region of
Iraq is second-leading contributor to global liquids supply growth in 2015 Read More »
Technology – improved understanding of subsurface geology, 3D seismic, specialized fracking – key to new natural gas plays such as Utica Shale North America’s natural gas resource base is more abundant and lower cost than ever, according to a new assessment by IHS, and the findings show a considerable growth of the low-cost segment of the
North America natural gas more abundant, cheaper than previously estimated – study Read More »
Low oil prices mean producing states under severe pressure OMAHA, Neb. _ Billionaire Warren Buffett said the U.S. economy appears weaker than he thought it would be as recently as last fall, but that doesn’t change his optimistic long-term view of the country’s prospects. Buffett appeared on CNBC Monday and addressed a variety of topics
Low oil prices have had significant impact on US economy: Warren Buffett Read More »
Whiting to cut spending by 80 per cent in North Dakota BISMARCK, N.D. _ North Dakota’s largest oil producer says it will cut all spending by 80 per cent in the state and suspend its well-completion operations in April due to depressed crude prices. Denver-based Whiting Petroleum Corp. said in an earnings report this week
Whiting to suspend its North Dakota oil well completions Read More »
