Oil and gas economy up 25 percent: TAEP

March 8, 2018


WICHITA FALLS—Oil and gas producers in Texas kicked off the New Year with a bang, propelling the Texas Petro Index upward for the 14th straight month by continuing to increase production in response to higher wellhead prices. At 192.7 in January, the TPI was 25 percent higher than in January 2017 when the TPI stood at 153.7 and up more than 30 percent than in November 2016 when the TPI stood at 148.2.


“The statewide…


Open Season For Dakota Access Expansion


March 7, 2018


Energy Transfer Partners is asking for commitments from the industry as it decides whether to ship additional crude through its Dakota Access and Energy Transfer Crude Oil pipelines that move oil from the Bakken play in North Dakota to the Gulf Coast…


CERAWeek: Pemex Looking For Partners In Several Exploration Projects

March 7, 2018


Mexico’s Pemex is looking for new partners in some deepwater joint ventures, and its director, Carlos Trevino, said the state-run oil company has reduced its paperwork and approval process for joint projects because it needs to move relatively fast.

Trevino said it’s talking with partners that are already on board for other projects, including Inpex Corp. of Japan and Chevron, about joining in on two offshore blocks the company successfully bid for in January.

Trevino said at…


Koch Brothers, Russian Oil Billionaires Dominate Forbes Latest List

March 7, 2018


Charles and David Koch are the only petrochemical billionaires in the Forbes top ten among the “three comma” club.

The World’s Billionaires list released Tuesday shows the Koch brothers tied for #8 on the list with an estimated $60 billion each, far behind #1 Jeff Bezos with $110 billion and Bill Gates at #2 with $90 billion and Warren Buffet #3 with $84 billion.

The next energy-related name…

Uresti Defeated In Primary. No, Not That Uresti.

March 7, 2018


There were a few surprises in Tuesday’s primary elections, but none bigger than the loss in Texas House District 118, where the older brother of state Senator Carlos Uresti was defeated by a little-known challenger, Leo Pacheco.

Carlos Uresti was convicted by a federal jury February 22nd in fraud charges stemming from a failed oil services company; there are calls for…


Fracked Gas Put This Nuclear Plant Out Of Business, But Nuclear Waste Could End Up In Fracking Country

March 6, 2018


It’s the nuclear plant that fracking shut down, and now the Texas company that specializes in disposing of nuclear waste is part of a new agreement to decommission the plant sooner rather than later.

Entergy Nuclear shut the Vermont Yankee plant in 2014, saying at the time that fracked natural gas flowing into the New England markets placed the plant a disadvantage in negotiating power contracts, but a new agreement filed in Vermont on Friday appears to move up…


CERAWeek: OPEC Cooperation ‘Solid As the Rock of Gibralter”: Report

March 6, 2018


OPEC Secretary General Mohammed Barkindo asserted that the oil cartel’s ongoing efforts to limit global crude production, along with 11 non-OPEC countries, could serve as a long-term strategy to reduce boom-and-bust oil prices, here at the “Oil Man’s Davos,” CERAWeek in Houston on March 5, World Oil reports.

“Barkindo expressed interests in not only extending production cuts wrought by the Declaration of Cooperation—now referred to by some…


CERAWeek: OPEC Leaders Formally Meet Shale Producers and Investors

March 6, 2018


Despite volatility in oil markets, future growth demand will be strong.

That’s the message from several speakers at the CERAWeek conference so far, but the big story is in the meetings.

At this year’s Houston conference are meetings on economics between members of OPEC and other oil producing nations and American shale drillers to talk about the future…


No Peak Demand Seen, But IEA Warns Over Low Investment, Lack of Pipeline Capacity

March 5, 2018


The next wave of North American oil production is being undercut by lack of pipeline capacity, the International Energy Agency said Monday, but its new report sees “no peak demand in sight.”

And while opposition and red tape continue to hamper the pipelines needed for increase future crude pumping, there will be more need for rail transportation capacity, which could supply up to 900,000-bpd spare export production….


Oil Rig Count Reaches 800, Permian Still King: Baker Hughes GE

March 2, 2018


The US commercial oil rig count was up for the sixth straight week in Friday figures from Baker Hughes GE, adding one rig overall this past week, bringing the total count to 800 for the first time since 2015.

Its the first time since last June that the rig count has increased for six weeks in a row.

Accumulating exploration…