West Texas Geological Society will conduct its 31st annual fall symposium next week in Midland. Scott Tinker, director of Bureau of Economic Geology at University of Texas, will open the two-day symposium Sept. 25 with the keynote address, “West Texas: Global Impact, National Ignorance.” Other speakers include officials from University of Oklahoma, Texas Tech and […]

The oil- and gas-producing counties of Eddy and Lea in Permian Basin lead New Mexico in construction job growth. The Santa Fe New Mexican said Eddy County led the state with 610 new construction jobs in 2019Q1 (an increase of 24.9 percent), according to statistics from the state’s Department of Workforce Solutions. And neighboring Lea […]

A study by Norwegian research firm Rystad Energy says methane emissions in Permian Basin likely hit a record high in 2019Q2 after a small decline earlier this year. The report estimates that the volumes of methane from natural gas burned or vented into the atmosphere averaged 663 million cubic feet per day in 2019Q2 – […]

The U.S. count of active oil and gas drilling rigs fell below 900 for the first time since 2017. Baker Hughes reported that as of Sept. 6 there were 898 rigs in the U.S. – down 6 rigs from 904 a week ago and down 150 rigs (14 percent) from 1,048 a year ago. There […]

The Texas Petro Index by petroleum economist Karr Ingham continued its decline in July despite rising crude oil production. The index fell for the fifth straight month in July to 205.5 from 207.1 in June. After ending 2018 with 212.3, the index increased to 212.5 in January and 213.2 in February. But it declined to […]

U.S. Energy Information Administration this week reduced its 2019 Brent crude oil price forecast to $63 per barrel – $2 per barrel lower than forecast last month. In its Sept. 10 report, the EIA said, “The lower 2019 price forecast largely reflects recent global crude oil price fluctuations and lower forecast global oil demand growth.” […]