Blog

The Texas Miracle: Only Five Countries Now Produce More Oil Than The Lone Star State

Tuesday, February 27, 2018

Mark J. Perry | American Enterprise Institute | February 9, 2018 There are only five countries in the world that produced more crude oil in October 2017 (most recent month available for EIA international oil production statistics) than the state of Texas (data here): Russia, Saudi Arabia, Iraq, Iran, and Canada. Therefore, if Texas was considered as a separate nation, it would be the world’s sixth-largest oil producer.

Trump Infrastructure Plan Would Speed Up Pipelines

Tuesday, February 20, 2018

Valerie Volcovici | Reuters | February 12, 2018 WASHINGTON - The Trump administration’s infrastructure proposal released on Monday would speed up the permitting of U.S. natural gas pipelines, including by cutting Congress out of the process for allowing them to cross national parks.

Texas Drilling Permits, Completions Rise As Crude Prices Firm

Tuesday, February 13, 2018

Oil & Gas Investor | February 12, 2018 Texas oil and gas producers received 1,166 drilling permits last month, a 21% increase over year-ago levels, the state energy regulator said Feb. 9, after filings surged on the back of higher crude prices.

EIA Expects U.S. Oil Output to Exceed 11 Million Barrels Per Day by Late 2018

Monday, February 12, 2018

Reuters | February 6, 2018 NEW YORK - U.S. oil production is expected to surpass 11 million barrels per day in late 2018, a year earlier than projected last month, the U.S. Energy Information Administration said on Tuesday.

Federal Data Show Dramatic Decline in Methane Emissions from Venting and Flaring

Monday, February 12, 2018

Methane emissions from venting and flaring during petroleum production declined by 40 percent between 2015 and 2016, according to a new draft report from the. U.S. Environmental Protection Agency.

Shale Drives U.S. to Become Net Energy Exporter Earlier than Predicted

Wednesday, February 07, 2018

The U.S. Energy Information Administration (EIA) released its Annual Energy Outlook 2018 today, forecasting significant growth in U.S. oil and natural gas production driven by shale development. In fact, shale development has increased production so substantially that the agency predicts the United States to be a net energy exporter by 2022 – four years earlier than forecast in EIA’s previous Annual Energy Outlook.  

Energy Exports Soar as Fracking Drives Record Production

Friday, February 02, 2018

A new report from the U.S. Energy Information Administration (EIA) found that hydraulically fractured horizontal wells accounted for 69 percent of new oil and gas wells drilled in 2016, up from less than 20 percent in 2008. The report comes as the United States is reaching production and export milestones unseen in decades: crude oil production recently surpassed 10 million barrels per day (b/d) – a 47 year high – while 2017 was the first year since 1957 that the United States was a net natural gas exporter.

U.S. Oil Production Tops 10 Million Barrels A Day for First Time Since 1970

Friday, February 02, 2018

Alison Sider & Lynn Cook | Wall Street Journal | January 31, 2018 U.S. oil production surpassed 10 million barrels a day in November for the first time in nearly 50 years, a milestone that underscores the growing dominance of the U.S. oil industry.

5 Things To Know Before President Trump's First State of the Union

Friday, January 26, 2018

President Trump will give his first State of the Union address on January 30th at 8pm CST. Here are the top five things that you should know before the big speech.

Methane Emissions Drop in Top Oil and Gas Producing Counties in Texas

Thursday, January 25, 2018

Methane emissions are declining in several of Texas’ largest oil and natural gas producing counties, according to a new analysis by Texans for Natural Gas. The analysis is based on data from the U.S. Environmental Protection Agency’s Greenhouse Gas Reporting Program (GHGRP) between the years 2011 and 2016.

U.S. Crude Output Set to Pass Saudis and Rival Russia: Report

Wednesday, January 24, 2018

Ben Geman | Axios | January 19, 2018 The International Energy Agency predicted Friday that the U.S. will surpass Saudi Arabia in crude output this year and will challenge Russia as the world's top producer on the back of "explosive" growth in shale production.

Relentless Growth Could See the U.S. Topple Russia and Saudi Arabia As World’s Largest Oil Producer, IEA Says

Tuesday, January 23, 2018

Sam Meredith | CNBC | January 19, 2018 "This year promises to be a record-setting one for the U.S.," the IEA said in its closely-watched report published Friday The latest monthly report from the IEA comes at a time when crude futures have climbed to highs not seen since the early days of a slump in December 2014 One of the main beneficiaries of OPEC-led production cuts is the producers' major competitor, U.S. shale oil. U.S. oil producers are staging a dramatic comeback amid a recovering oil price that has allowed many of them to restart operations.

What Makes Natural Gas Naturally Cheap, and Why Texans Should Watch the Price

Monday, January 22, 2018

Laurie Joseph & Jeff Mosier | Dallas News | January 16, 2018 There were concerns that the nation's new role as a natural gas exporter (much of that to Mexico) would cause price spikes.

U.S. Oil Industry Set to Break Record, Upend Global Trade

Tuesday, January 16, 2018

Liz Hampton | Reuters | January 16, 2018 HOUSTON (Reuters) - Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago.

Trump Administration’s Offshore Oil Proposal Could Unlock 65 Billion Barrels Of Oil Equivalent

Monday, January 15, 2018

Oil & Gas Investor | January 11, 2018 The Trump administration’s proposal to open up almost all of U.S. offshore waters to oil and gas drilling could unlock up to 65 billion barrels of oil equivalent (Bboe), attracting billions of dollars in investment, consultancy Rystad Energy said on Jan. 10.

American Oil Drillers' Output Could Top Saudi Arabia and Rival Russia by 2019

Friday, January 12, 2018

Tom DiChristopher | CNBC | January 9, 2018 U.S. oil production will average 10.8 million barrels a day in 2019, according to the Energy Information Administration, a level that will rival top producers Saudi Arabia and Russia. EIA sees America's output at 10.3 million barrels a day this year, the highest annual average on record. EIA forecasts U.S. crude prices will average $52.77 this year, well below the current price near $63 a barrel.

U.S. Becomes a Net Gas Exporter for the First Time in 60 Years

Thursday, January 11, 2018

Naureen S. Malik | Bloomberg Markets | January 10, 2018 America’s trade imbalance just got a wee bit smaller. The U.S. has now become a net exporter of natural gas on an annual basis for the first time since at least 1957.

Secretary Zinke Announces Plan For Unleashing America's Offshore Oil and Gas Potential

Wednesday, January 10, 2018

Department of the Interior | January 4, 2018 WASHINGTON – U.S. Secretary of the Interior Ryan Zinke today announced the next step for responsibly developing the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) for 2019-2024, which proposes to make over 90 percent of the total OCS acreage and more than 98 percent of undiscovered, technically recoverable oil and gas resources in federal offshore areas available to consider for future exploration and development. By comparison, the current program puts 94 percent of the OCS off limits. In addition, the program proposes the largest number of lease sales in U.S. history.

U.S. On The Cusp of Enjoying 'Energy Superpower' Status, Analyst Says

Tuesday, January 09, 2018

Sam Meredith | CNBC | January 4, 2018 In recent years, America's unprecedented oil and gas boom has been driven by one factor above all others — and that's shale. "The U.S. is emerging as, not only a military and economic superpower, but as an energy superpower," Martin Fraenkel, president at S&P Global Platts, told CNBC In November, the International Energy Agency projected a dramatic increase in shale production could transform the U.S. into the world's largest exporter of liquefied natural gas by the mid-2020s

America Could Become Oil King Of The World In 2018

Monday, January 08, 2018

Matt Egan | CNN Money | January 3, 2018 The United States is poised to ramp up crude oil production by 10% in 2018 to about 11 million barrels per day, according to research firm Rystad Energy.

How Does Texas' Budget Use Taxes From Oil And Natural Gas Production?

Sunday, January 07, 2018

Alex Samuels | The Texas Tribune | January 5, 2018 In the 2017 budget year, the oil production tax gave the state more than $2 billion in revenue, while the natural gas production tax brought in a little less than $1 billion. But where does this money go?

Pipeline Projects Move Ahead To Tackle Rising Texas Shale Output

Friday, January 05, 2018

Bryan Sims | Reuters | December 29, 2017 HOUSTON (Reuters) - Several oil pipeline companies this month agreed to move ahead on multi-billion-dollar projects that would link Texas shale fields to Gulf Coast export hubs, offering new outlets for burgeoning output expected in 2018.

Trump Administration Proposes Massive Increase In Off-shore Drilling

Thursday, January 04, 2018

Ledyard King | USA Today | January 4, 2018 WASHINGTON  — The Trump administration is proposing to open up 90% of the Outer Continental Shelf off the U.S. coast to oil and gas exploration, the largest single expansion of off-shore drilling activity ever proposed.

Crude Oil Exports: The Biggest Oil Story of 2017

Thursday, January 04, 2018

Nick Cunningham | USA Today | December 31, 2017 There have been plenty of eye-catching stories in the energy industry this year, but one notable development has been the rise of the U.S. as a crude oil exporter.

Texas Households Pay Less for Energy as Power Grid Uses More Natural Gas

Wednesday, January 03, 2018

Texas families are reaping the benefits of the fracking boom in the form of lower monthly energy bills, according to a new analysis by Texans for Natural Gas.