Houston native Jason Modglin last week was named president of Texas Alliance of Energy Producers. Most recently he was director of public affairs for commissioner Christi Craddick at the Railroad Commission of Texas, and previously he served as chief of staff for Rep. Drew Darby, R-San Angelo, chairman of the energy resources committee in the […]
EOG Resources, Parsley Energy to restore crude production in shale fields
Houston-based EOG Resources and Austin-based Parsley Energy are among the earliest producers in shale fields to reveal plans for a crude oil rebound. Last week Bloomberg said EOG Resources, the nation’s largest shale-focused producer, plans to accelerate production in the second half of 2020 after shutting in a quarter of its crude in May. Permian […]
RS Energy Group says flaring volumes decline in Permian Basin
A report by RS Energy Group this week said flaring intensity in Permian Basin as measured by satellites shows that flaring volumes continue to decrease since October 2019. RSEG said flared volume last October was about 675 MMcfd, and it declined in January and April and again in May to about 320 MMcfd. RSEG added, […]
Declining rig counts extend 12 weeks in U.S., 11 weeks in Permian Basin
The streaks of declining rig counts have reached 12 weeks in the U.S. and 11 weeks each in Texas and Permian Basin as of May 29, according to Houston-based Baker Hughes. There were 148 active rigs in Permian Basin (162 previous week, 452 previous year), 127 rigs in Texas (138 previous week, 480 previous year) […]
Texas, New Mexico state governments amend budgets with declining revenue
State governments in Texas and New Mexico are considering the impact on their budgets of declining revenue. Texas’ top lawmakers – Governor Greg Abbott, Lt. Gov. Dan Patrick and House Speaker Dennis Bonnen – sent a letter last month to heads of state agencies, colleges and universities to submit plans by June 15 to cut […]
Report shows growth in Permian’s contribution to state revenue
In the past five years, the percentage of the state’s revenue from taxes and royalties paid by oil and gas producers in Permian Basin has increased to 67.2 percent from 48.1 percent. A new report developed by Texas Taxpayers and Research Association said Texas oil and gas producers in 2019 contributed a record $13.4 billion […]
Shell files permits for 5 wells in Loving County to lead Texas drillers
Global operator Shell led drillers in filing permits in Texas for the week of May 20-26, according to Houston Chronicle. Oil major Royal Dutch Shell said it will continue its drilling program in Permian Basin with 5 horizontal wells on 2 leases in Loving County. They target Phantom field of Wolfcamp to depths of 11,600 […]
Rystad: Hydraulic fracturing starts to begin recovery in third quarter
Oslo-based Rystad Energy said May 15 that starts of new hydraulic fracturing jobs in U.S. will hit a low in May before a recovery begins in 2020Q3. Rystad said, “The covid-19 pandemic and the low oil price environment it has created continue to affect global energy markets and activity levels by oil and gas producers.” […]
In 11 weeks, U.S. loses 475 of 793 rigs (53 percent of decline in Permian)
In its rapid decline in active oil and gas drilling rigs now at 11 weeks, U.S. has lost 475 rigs to fall to 318 rigs as of May 22 from 793 rigs as of March 6. Permian Basin posted a declining rig count in 10 of those 11 weeks to fall from 415 to 162 […]
Workforce Commission says industry lost 26,300 jobs in April
Texas Workforce Commission said oil and gas industry lost 26,300 jobs in the state last month – the largest loss of jobs in the industry in one month in Texas since record-keeping began in 1990. Drilling, completion, production and related sectors employed 192,600 people in April – a decline of 12 percent from 218,900 in […]
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