Supports about 17 Percent of Jobs The booming oil and gas industry in Texas now supports about 17 percent of jobs in the state, either directly or indirectly, according to a new economic analysis. The oil and gas industry in the state of Texas is a significant contributor to the overall economy, bringing in a […]
Oil prices inched higher Tuesday, rising on OPEC’s newly extended production cuts and tensions with Iran, but still under pressure from demand concerns tied to slowing global growth and the trade dispute between the U.S. and China. “A decade ago, or even a few years ago, oil prices would probably be a lot higher,” even with these same […]
Oil is back over $60 a barrel! Read the full article here Source: Bloomberg
Natural gas price prediction whipsawed first moving higher and then reversing course closing down 1.7% on the trading session. Natural gas prices whipsawed moving lower after hitting a fresh 5-week high. Support is seen near a trend line break out experienced at the tail end of last week near 2.34. Resistance on natural gas prices […]
Gas Price Hike Have to be Accepted “If you truly want economic development, it’ll [gas price hike] have to be accepted,” The Prime Minister Sheikh Hasina said. Bangladesh has achieved 8.1 percent GDP growth, said Sheikh Hasina adding. “It was possible as we paid enough attention to energy, and we’ve been able to boost power […]
Exxon Mobil has unseated EOG Resources as the top driller in the Lone Star State. Let’s check out the current drilling down ranking. During the first six months of the year, Exxon Mobil’s shale arm, XTO Energy, has filed for 352 drilling permits with the Railroad Commission, which oversees the state’s oil and gas industry. […]
12 Million Barrels WASHINGTON – U.S. oil production surpassed 12 million barrels a day in April, further extending the nation’s record output during the fracking boom, the U.S. EIA reported Monday. “The U.S. onshore crude oil production increase is driven mainly by developing low permeability (tight) formations using horizontal drilling and hydraulic fracturing. EIA estimates that […]
UTICA SHALE WELL ACTIVITY AS OF JUNE 29 DRILLED: 240 (234 as of last week) DRILLING: 173 (174) PERMITTED: 481 (483) PRODUCING: 2,223 (2,222) TOTAL: 3,117 (3,113) Read the full article here Source: CantonRep.com
The United States exported a record 3.8 million bpd of crude in late June after Congress lifted a 40-year export ban in late 2015. Soaring Permian crude output last year exceeded available pipeline space, creating a West Texas glut that knocked regional prices to the lowest levels in four years and helped spur a pipeline construction […]
US Accounts For 2018, the Review reported that the world or US Accounts set a new oil consumption record of 99.8 million BPD, which is the ninth straight year global oil demand has increased. The United States remains the world’s top oil consumer, averaging 20.5 million BPD in 2018. China was second at 13.5 million […]
