Texas Oil and Gas Production Statistics for August 2018

AUSTIN — Production for August 2018 as reported to the Railroad Commission of Texas (Commission) is 90,367,988 barrels of crude oil and 616,160,091 mcf (thousand cubic feet) of total gas from oil and gas wells.

These preliminary figures are based on production volumes reported by operators and will be updated as late and corrected production reports are received….
 

Oil prices drop amid market uncertainty

By Alex Mills

 

October 30, 2018

 

Crude oil prices declined again this week as more questions arose regarding supply and demand.

One thing is certain: oil production in Texas and the U.S. continued to increase. Texas oil production rose 1 million barrels per day (b/d), or 29.9 percent, over last year, and U.S. oil production rose 18.8 percent to 10.964 million b/d.

The increase in U.S. oil production has contributed to a 6.3 million barrel increase in oil inventories. It was the sixth consecutive week stocks rose to 422 million barrels, but still 34 million barrels less than the same period in 2017.

Mixed economic information internationally contributed to the confusion….
 

Environmental Group Releases Report Warning of Hurricane Disasters If East Coast Is Opened to Offshore Drilling, Cites Gulf Incidents

October 25, 2018

 

Offshore oil and gas drilling is likely to cause devastating effects to the economies and infrastructure of the Southeastern United States when combined with unpredictable hurricanes, a new report claims….