USA

Texas biggest energy hog for 56th year in a row, but energy efficiency making inroads at state level – EIA

Texas biggest energy hog for 56th year in a row, but energy efficiency making inroads at state level – EIA

Electricity sales in states with efficiency mandates are 55% of total retail electricity sales The United States consumed about one per cent less energy in 2016 – with Texas the biggest user for the 56th year in a row – and that trend may accelerate as more states adopt energy efficiency policies and programs, according […]

Indian refiner buys 1 million barrels of WTI Midland oil: Reuters

Indian refiner buys 1 million barrels of WTI Midland oil: Reuters

First purchase of WTI Midland by any Indian company Reuters reports India’s state owned Bharat Petroleum Corp (BPCL) purchased 1 million barrels of WTI Midland grade.  The sale marks the first time an Indian company has bought the US grade, according to an industry source knowledgeable of the deal. Refiners in India joins a number […]

By August 2, 2017 0 Comments Read More →
When will American shale oil make money? Maybe by 2020, says Wood Mackenzie

When will American shale oil make money? Maybe by 2020, says Wood Mackenzie

Tight oil most attractive investment theme in the global industry – Wood Mackenzie Tight oil profitability has been the focus of much debate since the oil price collapse of 2014. Its ability to scale down and up quickly and break even at low price points has made the Permian the star of the show for investors, […]

Tiny Wyoming tops oil and gas giant Texas by a mile as biggest energy producing state

Tiny Wyoming tops oil and gas giant Texas by a mile as biggest energy producing state

 Wyoming provides 40% of American coal, is 6th biggest natural gas producer EIA recently released State Energy Data System estimates for net energy supply, which provide data on each state’s total primary energy production and consumption. Wyoming, Texas, Pennsylvania, West Virginia, and North Dakota ranked as the top five net suppliers of energy in 2015, according to […]

Texas oil and gas production statistics for May 2017

Texas oil and gas production statistics for May 2017

Texas production in May 2017 came from 179,857 oil wells and 93,397 gas wells Production for May 2017 as reported to the Railroad Commission of Texas is 76,381,908 barrels of crude oil and 560,452,280 mcf of total gas from oil and gas wells. These preliminary figures are based on production volumes reported by operators and […]

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 […]