Oil News
Devon to sell Assets
Devon Energy Corp., the energy producer that’s targeted $3 billion of asset sales to fund drilling and lower debt, agreed to sell fields in Texas and Oklahoma and a royalty interest in the northern Midland Basin for almost $1 billion to undisclosed buyers. The largest transaction was for reserves in East Texas for $525 million, [&hellip
Export Ban Lifted
Good news for energy producers across the United States, the 40-year-old ban on crude oil exports has been lifted. It was all part of a spending bill signed by President Obama. It’s a big win for political conservatives and the oil industry who have been fighting to lift the ban for nearly two years. The [&hellip
Texas Petroleum Index on the Rise
Texas oil production rose to new levels in the second quarter of 2014, according to an economist for the Texas Alliance of Energy Producers, Karr Ingham. His work regarding the Texas Petro Index (TPI), hit a record-high of 308.4 in June. The TPI is a composite index that is derived from a comprehensive set of [&hellip
Barnett Shale Declining Very Little
The Barnett Shale’s natural gas production might be declining slower than many expected, but declining it is, to less than 5 billion cubic feet a day in recent months. According to the Texas Railroad Commission, the Barnett peaked at 6.3 billion cubic feet a day in November 2011. The Barnett’s output was reported as 5.2 bcf [&hellip
It’s Time to Export Crude Oil
The U.S. Senate Energy and Natural Resources Committee is exploring the issue of whether it is time to lift a decades old federal government restriction on the ability of domestic energy producers to export crude oil. It’s a tandem question to whether America’s natural gas producers should be allowed more export capacity, but for different reasons. The [&hellip
Midland NGV and NG Workshop
The general public is invited to join Texas Railroad Commissioner David Porter at the first in a series of statewide workshops aimed at expanding the use of natural gas in transportation, drilling, and production-enhancement operations. The scheduled meeting will be held on Wednesday, February 26, 2014 at the Midland Petroleum Club, located at 501 West Wall Street. [&hellip
Will the Barnett Shale Return?
In reality, the Barnett Shale never left the north Texas area, but drillers did for the most part. Previously, a great combination of events, high natural gas prices and new horizontal drilling and rock fracturing technology set off an exploration boom which lasted 5 or 6 years. Although Mitchell Energy had produced Barnett Shale gas [&hellip
Fracking Saves Water Resources
According to Ashe Schow, Environmental Writer for the Washington Examiner, despite claims from anti-fracking activists that hydraulic fracturing contaminates ground water, a new study by the University of Texas found the process actually saves water and prevents droughts. “The bottom line is that hydraulic fracturing, by boosting natural gas production and moving the state from [&hellip
Natural Gas Exports Gaining Support
The U.S. House of Representatives has turned down a plan by Rep. Peter DeFazio (D-Oregon) by a 276-142 vote that would have blocked exports of natural gas produced on public lands, that being a good portion of oil & gas leases in New Mexico. DeFazio believes foreign sales threaten the move of U.S. manufacturing companies [&hellip
Natural Gas Vehicle Discussion
Railroad Commissioner David Porter hosted a Natural Gas Vehicle Stakeholder Seminar at the Railroad Commission in Austin today, the first in a series of statewide events as part of his initiative to promote the use of natural gas as a transportation fuel in Texas. “Texas is blessed with an abundance of natural gas reserves, accounting [&hellip