Three Join VAALCO Board
June 25, 2020
Houston crude production and development independent VAALCO Energy Inc. has three new independent directors on the board….
Exxon Restarts Baytown Facility, Valero-Memphis Still Refining At Reduced Capacity: Report
June 24, 2020
ExxonMobil has restarted a Baytown hydrocracker that was shut on Monday because of a malfunction, according to Reuters….
West Texas Oilman Backing Montana Green Party Senate Candidate: Report
June 23, 2020
Records indicate a PAC supporting a Green Party candidate in Montana’s competitive US Senate contest is backed by a Houston-based group linked to an activist West Texas oilman……
A&M Researchers Develop Recovery Estimator For New Wells
“Shale operators need to cut costs tremendously because of low global prices of crude oil,” and a new spreadsheet analysis procedure can do that.
June 23, 2020
Rather than using complicated reservoir simulations, researchers at Texas A&M University say they’ve come up with a much simpler method to predict the amount of oil and gas that can be recovered from newly-drilled wells, saving time, hassle and money….
Houston-Area’s TEAM Building In the Permian Despite O&G Downturn
June 22, 2020
Construction is getting underway on Odessa property for a new office building to house a Permian Basin office for TEAM Inc.‘s pipeline services division….
First Solar-Dow Power Agreement Has Synergy
June 22, 2020
The largest solar module manufacturer in the US has a new agreement to provide solar-generated electricity to the largest petrochemical site in the western hemisphere….
Vistra To Give $10 Million To Help Minority Communities
June 23, 2020
Dedicating the money to communities, Irving-based Vistra Energy said on Monday it’s committing $10 million over the next five years to the advancement of minorities…..
ExxonMobil Qatar Has New President and GM
June 22, 2020
ExxonMobil Qatar has appointed Dominic Genetti as president and GM effective July 1, 2020….
$40 Million Going to North Texas Electric Infrastructure
June 23, 2020
The US Department of Agriculture is releasing $1.6 billion in loans to utilities and electric cooperatives for use in infrastructure, including more than $40 million in Texas…..
Valero General Counsel Moves Up to CFO, Deputy to GC
June 19, 2020
Valero‘s top lawyer is moving up to CFO…..
Midland Region O&G Permits Down 30% in April: RRC
June 19, 2020
O&G permits issued in the Midland region were down by about 30% in April, according to the Railroad Commission of Texas.…
RRC Assesses More Than $800,000 In Fines
June 19, 2020
The Railroad Commission of Texas assessed $805,543 in fines involving 221 enforcement dockets against operators and businesses at the Commissioners’ Conference on June 16.
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2020 Pedernales Electric Coop Board Elections Results
Emily Pataki re-elected
June 19, 2020
Results of the 2020 PEC Board of Directors election are in.
PEC members in districts 2, 3, and 4 reelected Emily Pataki, and elected Mark Ekrut and Travis Cox to serve on the cooperative’s board of directors…..
Spark Energy Subsidiary Reaches Settlement In Maine Dispute
June 18, 2020
A settlement is being worked out in Maine between state regulators and a subsidiary of Houston’s Spark Energy….
CenterPoint Indiana Subsidiary To Close Coal-Fired Plants
June 18, 2020
Houston-based CenterPoint subsidiary Vectren Corp. has plans to shut down its remaining coal-fired plants as part of a transition to renewable energy, with gas-fired generation as a backup…..
Enterprise Says Terminal Movement Exceeds Expectations at Global Hub
June 18, 2020
Enterprise Products Partners says it expects to export more ethylene from its Morgan’s Point terminal than expected….
International, LNG Trading To Benefit From New India Gas Trading Exchange
June 18, 2020
International traders such as Houston’s Trafigura Trading LLC will benefit from India’s first gas trading exchange, which the Indian government says is now open for business…..
Texas AG Files Friend-Of-the-Court Brief in Pipeline-Related Case
June 18, 2020
Texas Attorney General Ken Paxton is part of a friend-of-the-court brief to help restart energy infrastructure construction…..
 
Hilcorp Bids Three Alaska Tracts
June 18, 2020
Houston’s Hilcorp is scooping up some state land in Alaska in the state’s first-ever online oil and gas lease auction….
EIA Releases Study Regarding Breakeven Crude Oil Prices
By Alex Mills
June 18, 2020
Just about everybody knows that crude oil produced in the U.S. from extremely tight formations, called shale, is just about the most expensive worldwide today because of the high technology and deep horizontal drilling.
It also is a very known fact that crude oil produced in other parts of the world, like Saudi Arabia, are the low-cost producers because their crude oil comes from very porous rocks in much greater quantity.
Some have alleged that the low-cost producing countries have tried to run out the high-cost producers in recent months by ramping up production during an already oversupplied economy to drive down prices and bankrupt the high-cost producers.
The geology and economic ramifications are complicated pitting country against country and government-owned oil companies against privately owned companies in the U.S.
The Energy Information Administration (EIA) at the U.S. Department of Energy recently shed some light on the complicated issues by releasing a study regarding the breakeven crude prices of various countries…..