AUSTIN – Railroad Commission of Texas Chairman Wayne Christian applauds the Texas oil and gas production industry. This is following the Texas Comptroller of Public Accounts’ announcement of record-breaking tax revenues from the industry. “Comptroller Hegar’s announcement reinforces the fact that oil and gas literally fuel every facet of our lives. This is despite President […]
There is a $1.9 billion merger last week. It’s between two Permian Basin oil and gas companies that own more than 100,000 acres in the region. It actually spans southeast New Mexico and West Texas. Desert Peak Minerals and Falcon Minerals announced their plans to combine in January. This will bring the new company’s holdings […]
The top oil producer in the world in 2021 was the United States. The U.S. has an output of 16.58 million barrels per day. This is according to BP’s latest annual statistical review of world energy. Let’s talk more about the Oil and Gas performance in 2021 and how the U.S came on top. The figure […]
The average national gas price Monday is $4.897 per gallon, according to the American Automobile Association, which is down 12 cents from its peak of $5.016 on June 14. So, What to Expect for July 4th Gas Prices? Patrick De Haan, GasBuddy’s head of petroleum analysis, predicted Sunday the national average for gas prices could fall to […]
Brent crude rose $1.80, or 1.6%, to $115.93 a barrel. More about oil prices climb data? Continue on. The U.S. West Texas Intermediate (WTI) crude contract for July, which expires later on Tuesday, rose $2.26, or 2.1%, to $111.82. The more active WTI contract for August was up $2.37 at $110.36. UBS analyst Giovanni Staunovo said that […]
Oil and gas production in Texas rose month on month. This is according to the latest preliminary figures from the Texas Railroad Commission (RRC). The preliminary reported total volume of crude oil in Texas in March was 110.9 million barrels. This is equating to 3.57 million barrels per day, the RRC highlighted. The preliminary reported […]
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 […]
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% […]
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 […]
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 […]
