Texas

Texas oil and gas production statistics for February 2017

Texas oil and gas production statistics for February 2017

Texas production in Feb. 2017 came from 169,008 oil wells and 89,918 gas wells Production for Feb. 2017 as reported to the Railroad Commission of Texas is 70,332,051 barrels of crude oil and 527,710,713 mcf (thousand cubic feet) of total gas from oil and gas wells. These preliminary figures are based on production volumes reported […]

Permian Basin oil production, resource assessments continue to increase

Permian Basin oil production, resource assessments continue to increase

Permian Basin covers over 75,000 square miles in 43 counties of western Texas and southeastern New Mexico Crude oil production in the Permian Basin is expected to increase to an estimated 2.4 million b/d in May, based on estimates from EIA’s Drilling Productivity Report, according to the US Energy Information Administration. Between Jan. 2016 and March 2017, […]

Texas, Gulf Coast now home to US ‘largest continuous natural gas’ resource

Texas, Gulf Coast now home to US ‘largest continuous natural gas’ resource

Technology dramatically increasing amount of recoverable oil and natural gas reserves By Matt Mandel, EnergyInDepth The United States Geological Survey (USGS) released two new assessments last week, finding that the Bossier and Haynesville formations of the Gulf Coast hold an estimated 304.4 trillion cubic feet (Tcf) of undiscovered, technically recoverable natural gas resources. Together, these […]

Blackstone deal to buy EagleClaw Midstream for $2 billion

Blackstone deal to buy EagleClaw Midstream for $2 billion

EagleClaw Midstream largest privately held midstream operator in Delaware Basin EagleClaw Midstream Ventures announced on Monday it will be sold to funds managed by Blackstone Energy Partners and Blackstone Capital Partners for approximately $2 billion. According to a press release issued by the Midland, Texas based company, money from the all-cash deal includes about $1.25 […]

By April 17, 2017 0 Comments Read More →
Permian Basin output boost pressures regional prices

Permian Basin output boost pressures regional prices

Cash traders selling Permian Basin crude at steep discounts Booming West Texas oil production has resulted in a drop in the value of the area’s spot crude to its lowest discount to the US oil benchmark in nearly two years. Shale producers in the Permian are frantically working to take advantage of higher prices and […]

By April 13, 2017 0 Comments Read More →
NuStar to buy Navigator Energy for $1.48 billion

NuStar to buy Navigator Energy for $1.48 billion

NuStar Energy looking to expand into Permian Basin NuStar Energy LP announced on Tuesday that it is buying privately held Navigator Energy Services LLC for approximately $1.48 billion. The company says with the purchase of the Dallas-based pipeline company it is expanding its operation into the Permian Basin. Navigator Energy owns and operates crude oil […]

By April 11, 2017 0 Comments Read More →
Texas drilling permits, completions statistics for March 2017

Texas drilling permits, completions statistics for March 2017

Texas rig count as of April 7 was 418, representing 50% of active rigs in US AUSTIN – The Railroad Commission of Texas issued a total of 1,310 original drilling permits in March 2017 compared to 511 in March 2016. The March total included 1,144 permits to drill new oil or gas wells, 11 to re-enter […]

Renewable energy plants pop up on West Texas oil and gas landscape

Renewable energy plants pop up on West Texas oil and gas landscape

West Texas renewable energy helps power Austin, San Antonio West Texas country, known for oil and gas rigs, is quickly becoming the home to a number of renewable energy facilities which provide electricity for thousands of Texas homes and businesses. On April 5, the East Pecos Solar Facility went live after a year-long construction period.  The First […]

By April 10, 2017 0 Comments Read More →
Chevron shifts to Permian Basin shale, boosts spending by 67 per cent

Chevron shifts to Permian Basin shale, boosts spending by 67 per cent

Chevron owns 2 million acres in Permian Basin Chevron Corp is shifting its focus from multi-billion dollar mega projects to the Permian Basin, hoping to weather low oil prices by quickly developing its vast shale holdings in Texas and New Mexico. In an interview with Reuters, Chevron CEO John Watson said he wants to put the shale […]

Texas oil/natural gas regulator needs proper funding – industry association

Texas oil/natural gas regulator needs proper funding – industry association

Texas has comprehensive regulations for all aspects of oil and natural gas activity By Todd Staples, Texas Oil & Gas Association Texas lawmakers are reviewing the Railroad Commission of Texas (RRC), the state agency that regulates the oil and natural gas industry, as part of the sunset review process. Lawmakers would do well to not […]