Drilling Down Ranking: Top 10 Drillers So Far This Year

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. EOG, which was last year’s top driller, has filed for 282 permits halfway through the year.

Some 86 percent of Exxon Mobil’s drilling permits this year were for projects in the Permian Basin of West Texas, followed by the Eagle Ford Shale of South Texas and the Haynesville Shale of East Texas.

Same 687 companies have filed for 6,275 drilling permits through June compared with the 766 companies that filed for 6,991 permits during the same period last year.

Some 86 percent of Exxon Mobil’s drilling permits this year were for projects in the Permian Basin of West Texas, followed by the Eagle Ford Shale of South Texas and the Haynesville Shale of East Texas.

Looking statewide, drilling permits are down by 10.3 percent in the first six months of the year, compared with the same period in 2018. Oil prices, at about $59 a barrel, are down about 20 percent from a year ago, when crude was trading around $74 a barrel. Exploration and production company budgets tightened following the sharp price drop at the end of last year, when oil plunged from about $76 a barrel to less than $45 per barrel.

Read the full article here
Source: HoustonChronicle.com

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