Texas

Texas pipeline rupture forces evacuations, shut down of Magellan pipeline

Texas pipeline rupture forces evacuations, shut down of Magellan pipeline

Texas pipeline rupture near Bastrop A Texas pipeline rupture near the city of Bastrop on Thursday morning spilled about 1,200 barrels of oil and forced the evacuation of nearby residents. The Longhorn pipeline is operated by Magellan Midstream Partners and transports crude from Crane, Texas to Houston.  The line ruptured about 4 miles southwest of […]

Texas drilling permits and completions statistics for June 2017

Texas drilling permits and completions statistics for June 2017

Texas rig count as of July 7 was 463, 49% of all active rigs in U.S. The Railroad Commission of Texas (Commission) issued a total of 1,305 original drilling permits in June 2017 compared to 656 in 2016, according to a press release. The June total included 1,131 permits to drill new oil or gas […]

Texas oil and gas production statistics for April 2017

Texas oil and gas production statistics for April 2017

Texas production in April 2017 came from 179,422 oil wells and 92,879 gas wells Production for April 2017 as reported to the Railroad Commission of Texas is 78,389,597 barrels of crude oil and 605,379,703 mcf of total gas from oil and gas wells, according to a press release. These preliminary figures are based on production […]

Pioneer Natural Resources CEO sees Saudi Arabia moving to boost oil prices

Pioneer Natural Resources CEO sees Saudi Arabia moving to boost oil prices

Pioneer Natural Resources CEO: “We’re not going to not drill” Tim Dove, CEO of Pioneer Natural Resources predicted on Tuesday that Saudi Arabia will make a move to boost oil prices in order to prop up the kingdom’s own finances. The recent downturn in oil prices occurred despite OPEC’s moves to reduce production by 1.8 […]

High costs may push away some Permian Basin investors

High costs may push away some Permian Basin investors

Permian Basin a victim of its own success The booming Permian Basin is the largest petroleum producing basin in the United States and has enjoyed a rush of capital since oil prices began to recover in February of last year. A number of exploration and production companies have flooded the Texas and New Mexico play […]

Tropical Storm Cindy forces closure of some Gulf of Mexico oil output, crew evacuations

Tropical Storm Cindy forces closure of some Gulf of Mexico oil output, crew evacuations

Death of child blamed on Tropical Storm Cindy One child is dead in the wake of Tropical Storm Cindy.  CBS News reports the 10-year old boy died after being struck by a log in a storm surge in the Gulf Coast community of Fort Morgan, Alabama on Wednesday. According the the National Hurricane Center (NHC), […]

Tropical Storm Cindy threatens to hit oil refining, production centres

Tropical Storm Cindy threatens to hit oil refining, production centres

Tropical Storm Cindy affects gasoline prices On Tuesday, oil refining and production facilities braced for the arrival of Tropical Storm Cindy, a system developing in the US Gulf of Mexico that is expected to move inland over western Louisiana and eastern Texas on Thursday. The Gulf Coast storm forced the Louisiana Offshore Oil Port to […]

Oil thefts, oil security booming in Permian

Oil thefts, oil security booming in Permian

2017 Texas oil thefts could amount to between $450 million to $1.5 billion In Midland Texas, an FBI task force has dedicated its efforts to investigating oil thefts that could possible cost producers over one billion dollars in the Permian Basin this year alone. With the shale oil boom that has rejuvenated the Permian comes […]

Texas drilling permits and completions statistics for May 2017

Texas drilling permits and completions statistics for May 2017

Texas rig count as of June 9 was 460, representing 50% of active rigs in U.S. The Railroad Commission of Texas (Commission) issued a total of 1,021 original drilling permits in May 2017 compared to 606 in May 2016, according to a press release. The May total included 841 permits to drill new oil or […]

Texas Railroad Commissioner boasts following OPEC deal

Texas Railroad Commissioner boasts following OPEC deal

Texas Railroad Commissioner Ryan Sitton According to Ryan Sitton, Texas Railroad Commissioner, Texas shale oil producers forced OPEC to extend its supply cut agreement into the first quarter of 2018. At its meeting in Vienna, OPEC agreed to carry forward the pact through at least March in order to help rebalance the oil market.  Saudi […]