Tag: Texas Oil
US rig count drops for fifth week, down to 571 from 619 last week
US rig count down the most in Texas HOUSTON _ For the fifth consecutive week, the Baker Hughes rig count shows another drop in the US oil and gas rig count. Texas took the biggest hit in the US with almost 20 fewer rigs searching for oil and gas. Reports from the oilfield services company for the […]
Encana focusing on Permian formation in 2016 capital spending budget
Encana cutting capital budget by $600M CALGARY _ Encana Corp. (TSX:ECA) says next year’s capital spending budget will be US$600 million lower than in 2015 and its dividend to shareholders will be cut by about 78 per cent. The Calgary-based oil and gas producer is estimating a total capital investment of between US$1.5 billion and US$1.7 […]
Vanguard Natural Resources to acquire Eagle Rock Energy Partners
Vanguard Natural Resources $474M deal Vanguard Natural Resources LLC will acquire Eagle Rock Energy Partners LP in a $474 million deal. The agreement was announced Thursday by the Houston-based companies. The company will also assume $140 million of debt from Eagle Rock Energy Partners, which will become a wholly owned indirect subsidiary. The agreement requires approval […]
Texas bans anti fracking bans
Anti fracking bans protect property rights according to governor Republican Texas Gov. Greg Abbott has signed into law a prohibition on cities and towns imposing local ordinances preventing fracking and other potentially environmentally harmful oil and natural gas activities. The much-watched measure sailed through the GOP-controlled Legislature after voters in Denton, a university town near […]
Energy independence will strengthen Texas: Porter
Fostering relationships with Mexico and Canada will help build energy independence By David J. Porter The United States needs to take the lead and work with our neighbors in Canada and Mexico to end our reliance on fuel from hostile regimes. The U.S. traditionally relies on oil from terrorist-supporting and aggressively anti-American nations that make up […]
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