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OPEC agrees to cut production, US producers prepare to respond

OPEC headquarters

Have you been watching the price of oil? As this story is being written, WTI Crude sits at $51.37, up 31 cents. Yesterday, according to Reuters, Brent crude was at its highest in 16 months. Why the jump? Because the Organization of Petroleum Exporting Countries agreed to its first oil output reduction since 2008. Members pledged to remove 1.2 million barrels ...

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Giving back to the community builds a strong corporate bond

LTR

It is truly rare when you find a company that is more interested in helping others than helping itself.  It takes a leader who believes in paying it forward, and knowing that having a corporate reputation as a company that gives back to the community will pay off in so much more than money. That’s been the case at Light ...

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Rig count jumps up 20 to 588

The number of oil and gas rigs in U.S. fields boomed this week, rising by 20 — the largest jump since the peak of the shale oil boom two years ago. U.S. oil drillers collectively sent 19 more rigs into the patch, the Houston oilfield services company Baker Hughes reported Friday. Gas drillers added one rig. The rise was driven ...

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Thanks to the Wolfcamp, Permian Basin breaks another record

Permian Basin, Wolfcamp

The U.S. Geological Service (USGS) announced the estimate of continuous oil in the Wolfcamp shale in the Midland Basin portion of the Permian Basin is almost three times that of the 2013 USGS Bakken-Three Forks resource assessment. This makes the the Wolfcamp the largest estimated continuous oil accumulation that the USGS has assessed in the United States–ever. The USGS estimates ...

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U.S. rig count declines by 1 to 568

baker hughes rig count

Baker Hughes’ latest rig count report shows the number of rigs drilling for oil rose by two this week to 452. Rigs drilling for natural gas was down 2. The total rig count fell by one to 568, still higher than the May low of 404. Total offshore rigs are down 12 from last year at this time. States losing ...

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Hamm joins Trump’s short list of cabinet prospects

trump, hamm, cabinet

As the dust settles from this year’s presidential election, conversation has already turned to Donald Trump’s proposed cabinet. Big names like Rudy Guiliani, former New York City Mayor, and other “like-minded CEOs,” top the list for positions in Trump’s cabinet. What does this mean for the oil and gas industry? One of the industry’s most prominent businessmen could hold a ...

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Industry closely watches Monterey County fracking ban measure

Monterey oil field, fracking ban.

Fracking bans. It’s not the first time these words have reverberated across the oil and gas industry. It’s two tiny words that could mean that men and women are out of jobs, and oil and gas stays in the ground, since many reserves just can’t be reached through conventional drilling. In the United States, Vermont banned fracking in 2012, the ...

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Customer Service is More Than Just Being Nice; If Done Right, It Can Save Your Customers Big Bucks

Light Tower Rentals, customer service

By Jeff Miller At LTR, our core values are Safety, Customer Service, Integrity, Teamwork, and Accountability.  Safety is the focus of every job at Light Tower Rentals (LTR).  It starts at the office, continues at the jobsite, and really never finishes.  Safety is priority one, because if you don’t have a safe work environment, you won’t have customers.  Without customers, ...

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US rig count up 4 this week to 557; North Dakota gains 5

baker hughes rig count

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by 4 this week to 557. A year ago, 775 rigs were active. Depressed energy prices have sharply curtailed oil and gas exploration. Houston oilfield services company Baker Hughes Inc. said Friday that 441 rigs sought oil and 114 explored for natural gas ...

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Texas parks department lied about Balmorhea springs?

Balmorhea

FuelFix reported today that Texas state park officials did not actually conduct any research that analyzes impacts of oil drilling in West Texas’s Balmorhea State Park. With the controversy over drilling on federal lands one of the past year’s most debated oil and gas topics, it seems like a risky oversight on the part of park officials. Three weeks ago, ...

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