.The Texas Energy Report

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.The Texas Energy Report

TIPRO Responds to Flaring Report Issued by RRC Commissioner Ryan Sitton: News Release

February 18, 2020

Austin, Texas – Today Texas Railroad Commissioner Ryan Sitton released a report highlighting data on flaring volumes from the oil and natural gas industry. The report examines the relationship between oil production and flaring and offers a new metric referred to as flaring intensity. As stated in the report, by measuring flaring intensity of nations, states and companies, and comparing them all to the global industry average,

Commissioner Sitton is now offering a benchmark on performance. His office plans to update and publish the report on a quarterly basis. The following statement can be attributed to Ed Longanecker, president of the Texas Independent Producers & Royalty Owners Association (TIPRO):….
 

Railroad Commissioners Act to Help Boost Energy Production in Texas: RRC

February 17, 2020

AUSTIN – Texas Railroad Commissioners this week adopted a key rule amendment to adapt oil and gas regulations to an evolving energy exploration landscape in the state.

Commissioners unanimously voted to amend RRC Rule 3.40 Assignment of Acreage to Pooled Development and Proration Units.

The rule restricted exploration in unconventional fracture treated (UFT) fields when oil and gas mineral ownership is divided at different depths below the surface. A UFT field is a field in which horizontal drilling and hydraulic fracturing must be used to recover oil and gas.

To take advantage of technological advances that can tap into once inaccessible hydrocarbon resources in UFT fields, Commissioners voted to allow assignment of acreage to multiple wells in these fields. This rule revision will further protect mineral owner interest and allow access to additional resources.

“This rule change is a win-win for industry and regulators, saving both agency staff and energy producers time and resources,” said Chairman Wayne Christian. “I am thankful for the hard work that went into modernizing these rules.”

“I appreciate the tremendous effort that Commission staff put into revising this rule,” said Commissioner Christi Craddick. “Working together with industry and stakeholders, these changes help to streamline our processes and increase production.”

“Our job as Commissioners is to ensure that the state’s rules keep up with advancing technology,” said Commissioner Ryan Sitton. “Amending Rule 40 will enable energy producers to responsibly extract more energy resources by recognizing that the way energy is produced has evolved over time. All Texans win in the form of lower energy prices with this change.”

The rule amendments adopted by Commissioners go into effect March 3, 2020.

 

It’s a (Politically Advantageous) Boy for Briscoe Cain! — Texas Monthly

February 13, 2020
 
By Sean O’Neel from Texas Monthly 2/13/2020:
 
While Texas state representative Briscoe Cain’s brand is largely defined by his own tough-guy cosplay and Second Amendment-related trolling, he can’t just send people screenshots of his tweeting threats to Beto O’Rourke. That’s really more of an October strategy. So in the meantime, he’s ensuring that voters somehow remember the name “Briscoe Cain” by reminding them of his long, proven record of breeding.

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Oil Prices Decline As Coronavirus Expands

By Alex Mills

 

February 13, 2020

Worldwide crude oil prices have been soft during the past five years because of weak demand and an oversupply.

Recent news of the coronavirus in China, the world’s largest oil importer, has reduced demand further as its economy struggles to counter the downturn.

The U.S. Energy Information Administration (EIA) on Thursday revised its forecast for global liquid fuels down 378,000 barrels per day from its forecast in January. EIA believes demand will still increase by 1 million barrels per day this year averaging 101.7 million barrels per day globally.

“The difference between the forecasts is driven by a combination of lower-than-expected heating fuel consumption caused by the Northern Hemisphere’s warmer-than-expected winter, an expected slowing of economic growth in general, and the particular economic effects of the 2019 novel coronavirus outbreak,” EIA said.

The International Energy Agency based in Paris also predicts a decline in its demand growth by 435,000 barrels per day…..