Texas

Red hot Permian Basin economics tighten due to rising CAPEX costs

Red hot Permian Basin economics tighten due to rising CAPEX costs

After land rush, execution risk, rising costs loom for Permian Basin exploration & producers Exploration and production (E&P) companies that successfully acquired Permian Basin acreage in the red-hot ‘land-grab’ market of 2016, are now faced with the challenge of maintaining premium valuations while meeting high-growth expectations in a rising cost environment, according to new research by […]

New pipeline infrastructure should accommodate rise in Permian oil production

New pipeline infrastructure should accommodate rise in Permian oil production

After 2017, several new pipelines and expansions planned that could carry additional increases in Permian production As crude oil production in the Permian Basin of western Texas and eastern New Mexico has increased, pipeline infrastructure has also increased to deliver this crude oil to demand centers on the US Gulf Coast, according to the US […]

Texas drilling permits and completions statistics for April 2017

Texas drilling permits and completions statistics for April 2017

Rig count as of May 5 was 443, representing 50% of active rigs in US AUSTIN –– The Railroad Commission of Texas issued a total of 909 original drilling permits in April 2017 compared to 683 in April 2016, according to a press release. The April total included 821 permits to drill new oil or […]

Asian investors ignoring US shale oil at their peril – Wood Mackenzie

Asian investors ignoring US shale oil at their peril – Wood Mackenzie

Fast-moving Lower 48 market problematic for Asian companies with long lead-times for decision-making Asia’s upstream players have been notably absent from the Permania that has dominated M&A markets over the last 12 months. Industry consultancy Wood Mackenzie believes this might be set to change. Asia’s oil and gas production will fall by 20 per cent over the next […]

Texas LNG exports create billions in economic benefits, 70,000+ jobs

Texas LNG exports create billions in economic benefits, 70,000+ jobs

Economic benefits of LNG export can be realized while still protecting the environment By Matt Mandel, EnergyInDepth Today, the group Texans for Natural Gas (TNG) released a new report on the massive economic impact liquefied natural gas (LNG) exports could have on Texas and the United States. With seven LNG export facilities proposed or already under […]

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 →