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Dallas Fed: Texas oil is strong

Permian Basin, Wolfcamp

The most recent report from the Federal Reserve Bank of Dallas for June 2017 shows that many indicators for the oil and gas sector continued to increase in May. While WTI crude dropped slightly, production growth continues to stay strong, especially in the Permian basin. Below is a summary of the report from the Dallas Fed. For more details and graphs, be sure ...

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Texas rig count ramp up continues

baker hughes rig count

This week’s Baker Hughes North America Rotary Rig Count showed another week of increases in Texas, with an addition of 11 new rigs exploring for oil and gas. The U.S. total rigs is now 870, up 13 from last week. Nine of those rigs are exploring for oil, while 4 are searching for gas. The Gulf of Mexico lost 3 ...

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Epic pipeline from Permian to Corpus Christi announced

Epic pipeline, Permian pipeline

Yet another pipeline is in the works. A 730-mile cross-Texas pipeline would take crude oil and condensates from the Permian Basin to the Port of Corpus Christi and other area drop-offs. The so-called Epic Pipeline would have a maximum capacity of 440,000 barrels per day with crude pickup points include Orla, Pecos, Crane and Midland, according to a news release. ...

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Huge shortage of well inspectors leaves many unmonitored

A pump jack works to extract oil and gas from a well in Wyoming's Niobrara shale

Maybe becoming a well inspector is your next job. The Houston Chronicle reported today that several thousand wells just haven’t been checked recently. Not because oil and gas operations are so efficient that there are never any mistakes. But because there just aren’t enough inspectors to go around. Commissioners report that approximately 65 percent of wells haven’t been inspected for ...

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Rig count up 12, 200 over last year

baker hughes rig count

The Baker Hughes North American Rig Count showed an increase of 12 rigs exploring for oil and gas on Friday, Feb. 10. This number shows an increase of 200 rigs to a total of 741 over last year’s count. Confidence that OPEC may stay true to its agreement to cut production could be driving the rig count increase. The Permian ...

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Rig count continues to swell

baker hughes rig count

The Baker Hughes rig count Friday showed another significant increase in exploration for oil and gas. The rig count went from 712 to 729, an increase of 17. Of those rigs, 583 are exploring for oil and 145 are exploring for gas. All the additions this week were looking for oil. Alaska, Arkansas, Colorado and Wyoming each added one rig. ...

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Rig count slides after 10 weeks of increases

baker hughes rig count

After ten weeks of gains, the U.S. rig count from Baker Hughes shows a decrease of six since last week, dropping from 665 to 659. However, the total is still up 9 from last year at this time when the count was 650. Colorado, North Dakota, Ohio, and Pennsylvania each lost one rig. Oklahoma and Texas were each down two ...

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Rig count up for 10th straight week

baker hughes rig count

The total U.S. rig count increased seven this week for a total of 665, one ahead of last year’s total. Baker Hughes reported 529 rigs exploring for oil, with 135 exploring for natural gas. The Permian Basin still remains the rig leader, with 267 rigs in the area, up three from last week. Colorado gained one, Louisiana was up two, ...

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Halliburton hiring in West Texas

Halliburton hiring in Permian, An oil and gas drilling rig operating in the Permian Basin near Farmington, New Mexico. (Image courtesy of Encana Corp)

According to FuelFix, Halliburton is set to hire 200 workers in the Permian Basin in West Texas and New Mexico. The Current-Argus reported that Halliburton spokeswoman Emily Mir said in late December there will be job opportunities throughout the Permian, including in Artesia. As the oil industry begins to see a small upswing, local businesses are crossing their fingers that ...

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Will Trump’s policies affect drilling or pipelines?

The election of Donald Trump has thrilled many people across the West’s oil and gas industry who say his promises to roll back regulations will free it from unfair and unnecessary obstacles imposed by President Obama, including drilling in the Western part of the United States. As California “If the Trump administration does nothing but stop being hostile to us, we’ll ...

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