Celebrating 10 years covering energy and politics in The Lone Star State.
PLEASE NOTE: Migration from our old computer system to a new facility is finished and The Texas Energy Report will roll out, over the next few weeks, a few changes. Thank you for staying with us through this process.
— Mike Shiloh, Publisher
August 19, 2019
Texas is among 10 states set to receive a total of $181 million for upgrading rural electric systems, with Deep East Texas Electric Cooperative getting a good share…..
August 19, 2019
Some specific solar and wind electricity generation systems components are taxable for sales and use while others are exempt, according to a letter from the Texas Comptroller of Public Accounts….
August 19, 2019
A group of Sanchez Energy Corp.‘s unsecured debt holders asked a Texas bankruptcy court last Tuesday (8/13) to “put the brakes on the company’s request for Chapter 11 financing.”….
August 19, 2019
The Railroad Commission of Texas (Commission) issued a total of 912 original drilling permits in July 2019 compared 1,153 in July 2018. The July 2019 total included 836 permits to drill new oil or gas wells, eight to re-enter plugged well bores and 68 for re-completions of existing well bores. The breakdown of well types for those permits is 212 oil, 58 gas, 537 oil or gas, 93 injection, three service and nine other permits….
August 15, 2019
ERCOT said Thursday afternoon a Level 1 alert is in effect — wind generation is down, at least one backup generation ‘is out’ bringing grid to lower overall generation level.
No outages are expected at least for now.
The grid coordinator is calling for electricity users to cut back usage.
Level 1 is the lowest of three levels of emergency alert.
Some fewer generation sources unavailable when compared to earlier in the week, ERCOT Senior Director of System Operations Dan Woodfin saAugust 15, 2019
ERCOT said Thursday afternoon a Level 1 alert is in effect — wind generation is down, at least one backup generation source ‘is out’ bringing grid to lower overall generation level.
No outages are expected at least for now.
This alert is not weather related, ERCOT said.
The grid coordinator is calling for electricity users to cut back usage.
Level 1 is the lowest of three levels of emergency alert.
Some fewer generation sources unavailable when compared to earlier in the week, ERCOT Senior Director of System Operations Dan Woodfin said…..
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August 14, 2019
A longtime oil and gas banking specialist is the new chief commercial officer at the Texas Pacific Land Trust…..
August 14, 2019
Crude oil and natural gas production as reported to the Railroad Commission of Texas (RRC) for May 2019 came from 177,644 oil wells and 89,952 gas wells….
August 14, 2019
Citgo‘s new CEO is already chairman of the board….
August 13, 2019
Reliant Energy is asking its Texas customers to continue conserving electricity through Thursday, after power prices spiked above $9,000/MWh and an emergency action declared by ERCOT on Tuesday afternoon was cancelled after less than two hours….
August 13, 2019
Comstock Resources‘ second quarter financial and operations results continue to feature contributions from the 2018 merger of properties from Dallas Cowboys owner Jerry Jones.
The North Texas billionaire contributed Bakken Shale properties to the company in exchange for a controlling interest while it refinanced its long-term debt.
Following are highlights Comstock’s press release on quarterly and half-year results:
For the second quarter of 2019, Comstock reported net income of $21.4 million or $0.20 per diluted share as compared to a net loss of $34.0 million or $2.22 per share for the Predecessor second quarter of 2018. The second quarter 2019 results included an unrealized gain from derivative financial instruments held to manage oil and gas price risks of $12.8 million and Covey Park merger related transaction costs of $1.4 million. Excluding these items, the net income for the second quarter of 2019 would have been $12.7 million or $0.12 per diluted share….
August 13, 2019
Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) announced today its financial results for the second quarter ended June 30, 2019 and provided an operational update.
Second Quarter Highlights
…
August 13, 2019
The Railroad Commission of Texas assessed $864,689 in fines involving 270 enforcement dockets against operators and businesses at the Commissioners’ conference this week. The Commission has primary oversight and enforcement of the state’s oil and gas industry and intrastate pipeline safety….
August 13, 2019
Lilis Energy, Inc. (NYSE American: LLEX), an exploration and development company operating in the Permian Basin of West Texas and southeastern New Mexico, today reported financial and operating results for the second quarter of 2019.
Second Quarter 2019 Highlights
….
August 13, 2019
The first crude oil delivery arrived this week for Trafigura and Houston’s Buckeye from the Cactus II pipeline in Corpus Christi….
August 13, 2019
The State of Texas will issue $8 billion in tax and revenue anticipation notes next week as the fiscal year approaches….
August 13, 2019
UK-based independent renewable company Renewable Energy Systems (RES) is joining with Canada’s Algonquin Power & Utilities Corp. on a Texas wind project….
By Alex Mills
August 8, 2019
Energy policy no longer has a place in the debates among Democrat candidates for President. The buzz words for Democrats today are “climate change,” “environmental justice” and the “Green New Deal.”
Crude oil, natural gas, coal and nuclear are not a part of the platforms of the 20-something Democratic candidates. Not even the two candidates from Texas – Beto O’Rourke and Julian Castro – have any mention of oil and natural gas on their official webpages. O’Rourke does say he would stop granting federal leases for development of fossil fuels, and develop funding ($5 trillion) for climate change investments and “economic diversification.” Castro’s webpage has no mention of energy or climate change.
During the recent second round of debates last week, former Vice President Joe Biden was asked by the moderator if there would be “any place for fossil fuels, including coal and fracking” in his administration and he replied “no.”
Biden, the leading contender in the polls, does devote a lengthy discourse on his webpage discussing his policy “ensuring the U.S. achieves a 100 percent clean energy economy and net-zero emissions no later than 2050.” To achieve this very lofty goal, Biden says he will issue executive orders, seek legislative remedies, establish “enforcement mechanisms,” and make “historic investment in clean energy.” Those enforcement mechanisms include “action against fossil fuel companies and other polluters who put profit over people.”…
August 8, 2019
Anadarko Petroleum is no more; it ceased trading on the NYSE on Thursday and is now part of Occidental….
August 7, 2019
Pin Oak Corpus Christi, LLC (Pin Oak) has announced material updates to its growing terminals business in the Corpus Christi market, including new interconnection agreements with EPIC Pipeline and Red Oak Pipeline and commencement of construction on its new crude oil trading hub at Taft (Taft Terminal). The Taft Terminal will complement Pin Oak’s Corpus Christi Terminal, an approximately 4 million bbl storage facility with export-capable Suezmax and MR docks set to commence operations in 4Q19….
Included below: Parent company Sempra Energy 2Q Earnings link
August 7, 2019
Oncor reports net income of $139 million for 2Q 2019, down slightly year-over-year from $143 million, for which the company blames a cooler-than-average 2019 versus a warmer-than-average 2018…..
