A survey by Federal Reserve Bank of Dallas shows that the cost of profitably drilling a shale oil well in the U.S. has fallen to $50 per barrel, “likely ensuring the growth of the onshore shale industry for years to come.” The Houston Chronicle reported, “Led by surging production and efficiency gains in west Texas’ booming Permian Basin, the average breakeven price of oil has … [Read More]
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Study shows economic benefits for New Mexico from ExxonMobil operations
ExxonMobil said May 17 a study by Impact Data Source estimates the company’s development of Permian Basin resources in New Mexico will generate about $64 billion in … [Read More]
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Rig count continues decline in Permian Basin and U.S.
The counts of drilling rigs declined for the fifth straight week in Permian Basin and sixth straight week in U.S. as of May 17, according to Baker Hughes. During … [Read More]
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UPS to use renewable natural gas to power delivery trucks in Texas
UPS said Wednesday it is buying the equivalent of 170 million gallons of renewable natural gas from California-based natural gas provider Clean Energy Fuel Corp. in the next seven years to fuel its delivery trucks in Texas and 12 other states. UPS will have … [Read More]
Howard Energy, WPX Energy complete project in Delaware Basin
San Antonio-based Howard Energy Partners and Tulsa-based WPX Energy said May 16 they have completed a majority of their previously-announced crude oil and natural gas gathering and processing infrastructure in Delaware Basin. After startup of the first … [Read More]
Occidental, Canadian company to develop direct air capture plant
Oxy Low Carbon Ventures, a subsidiary of Occidental Petroleum, and Canadian clean energy company Carbon Engineering said Tuesday they will jointly proceed with engineering and design of the world’s largest direct air capture and sequestration facility to be … [Read More]
