Entries by Ranger Land and Minerals

Biden calls on American oil industry to increase production

US President Joe Biden says he is prepared to “use all tools at his disposal”. The goal is to get American oil industry producers to do more. The main aim is to lower the cost of oil. President Joe Biden urged the companies to take “immediate actions to increase the supply of gasoline, diesel, and […]

Inflation Has Not Peaked, Oil Prices Will Continue to Rise: Energy Expert

Oil Associates President Andy Lipow argued that inflation has not yet peaked. The higher oil prices are following the European Union’s decision to ban the overwhelming majority of Russian imports. Lipow made the arguments on “Mornings with Maria” on Tuesday morning as oil prices traded higher with Brent crude futures for July rising about 1.6% […]

Permian Basin Oil and Gas Growth Expected to Lead US in Production Through 2023

Energy companies continued to invest in the Permian Basin of southeast New Mexico and West Texas, an area believed to be among the most lucrative oil and gas regions in the world, as fuel demand surged, and fossil fuel producers sought to increase production. Orion Diversified Holding was the latest to purchase property in the region as […]

Oilfield employment continues to rise as overall US labor market gains

Employment in the U.S. oilfield services and equipment sector rose by an estimated 4,774 jobs to 628,793 in May, according to preliminary data from the Bureau of Labor Statistics (BLS) and analysis by the Energy Workforce & Technology Council, and after adjustments to April numbers. April adjusted number of 624,019 is up from the preliminary […]

US Oil and Gas Industry the World’s ‘Most Important Environmental Movement,’ Energy Exec Says

President and CEO of the American Petroleum Institute Mike Sommers praised the U.S. oil and gas industry as the world’s “most important” environmental movement, Friday, arguing on “Mornings with Maria” that the country needs an administration that can “continue to support” the energy industry. MIKE SOMMERS: Well, let me say something that might be controversial to some. I […]

Texas Gains 5,200 Direct Natural Gas and Oil Jobs from March to April

Texas’ upstream natural gas and oil industry added 5,200 direct jobs from March to April. This is bringing the state’s latest direct upstream headcount to 190,400, the Texas Independent Producers and Royalty Owners Association (TIPRO) said Friday. “Texas operators are responding to the call to increase production, despite facing numerous challenges, including inflationary pressures, workforce […]

Oil Extends Four Weeks of Gains Amid Tight Supply

Oil extended four weeks of gains amid oil tight fuel supply and a weaker dollar. Elevated prices are fanning concerns that the world economy may be heading for a recession. As a result, these concerns will surely affect economies response to the crisis. West Texas Intermediate futures topped $111 a barrel. Gasoline and diesel prices […]

Largest Oil and Gas Producers Made Close to $100bn in First Quarter of 2022

The tumult of war and climate breakdown has proved lucrative for the world’s leading oil and gas companies, with financial records showing 28 of the largest producers made close to $100bn in combined profits in just the first three months of 2022. Buoyed by oil commodity prices that soared following the turmoil caused by Russia’s […]

Permian oil output forecast to hit record high in June -EIA

Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 88,000 barrels per day (bpd) to a record 5.219 million bpd in June, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. Total output in the major U.S. shale oil basins […]