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 Railroad Commissioner boasts following OPEC deal Read More »
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
Texas oil and gas production statistics for March 2017 Read More »
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
Red hot Permian Basin economics tighten due to rising CAPEX costs Read More »
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
New pipeline infrastructure should accommodate rise in Permian oil production Read More »
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
Texas drilling permits and completions statistics for April 2017 Read More »
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
Asian investors ignoring US shale oil at their peril – Wood Mackenzie Read More »
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 LNG exports create billions in economic benefits, 70,000+ jobs Read More »
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
Texas oil and gas production statistics for February 2017 Read More »
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,
Permian Basin oil production, resource assessments continue to increase Read More »
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
Texas, Gulf Coast now home to US ‘largest continuous natural gas’ resource Read More »
