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Tag Archives: Texas oil production

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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28 Shreveport-area oil service employees losing jobs

SHREVEPORT, La. — A corporation that provides services for the oil and gas industry is laying off 28 employees at its Shreveport facility. Baker Hughes notified the state of the layoffs in a letter late last week. A copy was released Monday by Louisiana’s labor department. The company said the layoffs are the result of cutbacks in exploration, drilling and ...

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JM Oil Field Services downsizing in the Eagle Ford Shale

Job cuts keep coming in the Eagle Ford as JM Oil Field Services (JMOS) laid off 150 or more workers Monday morning. The news came to a surprise to employees operating at the company headquarters in Gonzales, Texas. As one source noted, many believed their jobs were secured thanks to an acquisition on behalf of Twin Peaks Field Services in ...

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Top 5 Eagle Ford Stories of the week

5. U.S. crude oil steadies from six-and-a-half-year low   U.S. crude oil steadied on Friday after falling to its lowest in almost 6-1/2 years as huge stockpiles and refinery shutdowns heightened concerns about global oversupply. Read more here. 4. Officials investigating Shell’s unsettling discovery If there’s valuable lesson we can retain from the movie Poltergeist, it’s that developing over the burial ground ...

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Top 5 Eagle Ford stories of the week

5. ‘Frack now, pay later,’ top services companies say amid oil crash Business is so tough for oilfield giants Schlumberger NV <SLB.N> and Halliburton Co <HAL.N> that they have come up with a new sales pitch for crude producers halting work in the worst downturn in years. It amounts to this: “frack now and pay later.” Read more here. 4. Pioneer Natural ...

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Permian Basin dominates rig counts

A fracking rig sits in an farmers field in Colorado

Despite being halved in the past year, the Permian Basin’s rig count heads the upswing with more rigs than any other US region. It’s been a rough year for rig counts in every shale play across the country, and the Permian Basin has been no exception. In the past 12 months, capped August 7 2015, the Basin suffered a loss ...

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Twin Eagle acquisition of Eagle Ford system finalized

Last Thursday, Twin Eagle Resource Management, LLC announced the acquisition of a 100 percent interest in a 42-mile crude oil gathering system pipeline in the Eagle Ford shale region. According to a press release, the StarMex Big Wells, LLC, gathering system connects to the major long-haul pipelines in the Gardendale area. Positioned in the most fruitful part of the Eagle ...

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Texas has suffered billions from oil price slump

We’ve seen the decimation of oil prices, most notably the loss of jobs and the reduction of new wells or new exponential increases in production. In the pursuit of quantifying the damage, a recent report found that Texas petro-wealth is down $33 billion from 2014’s observations. Blackbeard Data just released its 2015 Petro-Wealth report. In its summary, Blackbeard states that ...

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“Tar balls” begin to dot Texas shorlines

Seemingly out of nowhere, hundreds of “tar balls” have washed up along the shore in Corpus Christi and along southern Texas—baffling experts in the area. “We don’t have a source for the oil,” Jim Suydam, a spokesman for the Texas General Land Office, told ABC News reporters yesterday. Suydam stated that samples of the substance have been sent to the ...

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Pioneer to sell major Eagle Ford Midstream operation

oil rig

On Monday, Pioneer Natural Resources Company announced that it is in cahoots with Reliance Holding USA, Inc. to sell its Eagle Ford Shale Midstream business for $2.15 billion. According to a press release, an affiliate of Enterprise Products Partners L.P. has agreed to purchase the assets. The sale is still subject to regulatory approvals and normal closing adjustments. Pioneer owns ...

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