Several bills are supporting the Texas oil and natural gas industry. The goal is to protect consumers from California-style regulatory policies. State Sen. Brian Birdwell, R-Fort Worth, and Rep. Brooks Landgraf, R-Odessa, filed companion bills. The bills are SB 1017 and HB 2374 which will protect Texans’ energy choices. If enacted into law, local government […]
The global oil and gas industry profits in 2022 jumped to some $4 trillion. It is from an average of $1.5 trillion in recent years. This is what the head of the International Energy Agency (IEA), Fatih Birol said on Tuesday. Despite those profits, countries depending on oil and gas revenue should prepare to reduce […]
Permian Strategic Partnership (PSP) President and CEO Tracee Bentley made a compelling case. It is for the positive impact of oil and natural gas production. The impact on local communities during her testimony before the U.S. House Subcommittee on Energy and Mineral Resources at The University of Texas Permian Basin Midland Campus on Feb 13. […]
Oil and gas companies and producers based on the Texas side of the Permian Basin looked to capitalize on the growth. Growth in the New Mexico portion of the region, looking to buy lands in the southeast corner of the state. Permian Resources Corporation announced an agreement. They will see it purchase about 4,000 leasehold […]
The Texas Independent Producers & Royalty Owners (TIPRO) Association’s eighth edition of its State of Energy Report found Texas in the driver’s seat. This is when it comes to oil and gas production and oil industry-related jobs for 2022. Oil production in Texas was 1.83 billion bbl in 2022. New Mexico with 534 million bbl […]
Last year, President Biden slammed Exxon Mobil for making “more money than God”. But guess what, oil and gas saw record profits in 2022. That moment underlined a sharp turnaround from 2020 when the pandemic slashed oil prices and ground energy companies to a near-halt. That year, Exxon posted a $22B loss — its first […]
The USA oil and gas industry employed 948,943 professionals in 2022. That’s according to the Texas Independent Producers & Royalty Owners Association’s (TIPRO) latest State of Energy Report, which noted that this figure represented a net increase of 39,721 direct jobs compared to 2021, subject to revisions. There were 358,776 direct U.S. upstream sector jobs in […]
Fossil Fuel Giants Cash in on Oil and Gas Prices? Woodside Energy’s quarterly revenue has nearly doubled. It was just in a year! Thanks to strong gas pricing following a similar announcement from oil and gas giant Santos last week. Woodside on Wednesday reported an 81% jump in its fourth-quarter revenue despite recent declines in oil prices. […]
Oil prices rose by around 1per cent on Monday to a seven-week high, extending last week’s gains on the back of a stronger outlook thanks to an expected economic recovery in top oil importer China this year. Brent crude was up US$1.28, or 1.5per cent, at US$88.91 a barrel at 11:06 a.m. EST (1606 GMT). […]
Oil production in South Texas, home of the second largest U.S. shale field, is going to rise as much as 4% this year. It is as higher prices spur more drilling and as U.S. crude exports set new records. Output in the Eagle Ford shale field tanked in 2020. On the other hand, it has […]
