USA

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 […]

Texas oil and gas production statistics for March 2017

Texas oil and gas production statistics for March 2017

Texas production in March 2017 came from 177,719 oil wells and 90,804 gas wells Production for March 2017 as reported to the Railroad Commission of Texas is 77,262,815 barrels of crude oil and 608,006,175 mcf (thousand cubic feet) of total gas from oil and gas wells, according to a press release. These preliminary figures are […]

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 […]