TPH report: At $50 oil, Eagle Ford production could dip 13 percent

Eagle Ford Shale counties top Texas production for October

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Communities in the Eagle Ford Shale topped the state’s list of the biggest crude oil, condensate and natural gas producers in October, according to preliminary data released this week by the Texas Railroad Commission. Karnes County continues to pump more crude oil than any other county, with nearly 6.39 million barrels produced in October.
David Porter, chairman of the Texas Railroad Commission, speaks Tuesday 11-10-2015 during the Executive Oil Conference at the Midland County Horseshoe Pavilion.
Tim FischerReporter-Telegram

David Porter won’t run for reelection to Texas Railroad Commission

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Texas Railroad Commission Chairman David Porter announced today that he will not campaign for re-election to the commission. Porter is a CPA from Midland, but was well known in South Texas communities for organizing the Eagle Ford Task Force. He released this statement: “After much thought and consideration, my wife Cheryl and I have decided to
(Kristen Hays/Houston Chronicle)

Rising Gulf of Mexico production helping offset the drop in shale

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Into the second week of the month we go, and we see the usual dearth of economic data that follows Nonfarm Friday. The only release of note overnight was a disappointing German industrial production print, while we do get some energy-related data via the EIA’s drilling productivity report to tide us over. The spirit of Louis […]
A OPEC logo sits on a sign outside the 167th Organization of Petroleum Exporting Countries (OPEC) conference in Vienna, Austria, on Friday, June 5, 2015. The Organization of Petroleum Exporting Countries has exceeded its own target of 30 million barrels a day for 12 straight months. Photographer: Lisi Niesner/Bloomberg

OPEC meeting and economic data set the tone for crude this week

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Thirty-three years after Michael Jackson’s sixth studio album was released, and this week is set to be an absolute thriller. What starts off rather calmly today with the closing out of November, culminates with a frenetic Friday and a cracking combination of nonfarm payrolls (aka, official US unemployment data) and the small matter of an OPEC […]
(Spencer Platt/Getty Images)

U.S. oil rig count ticks up after 10 weeks of declines

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Oil field operators have pulled back about 65 percent of the rigs that were operating at the peak of the U.S. oil boom in October 2014.

West African crude imports head to East Coast, not Gulf Coast, amid global glut

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As Ralph Macchio celebrates his 54th birthday (make you feel old? me neither, ahem…), the crude complex has tried to kick higher ahead of the weekly inventory report, but is losing the fight against a stronger dollar. While we continue to slowly exit US maintenance season, builds to crude stocks are still underway. Last night’s API […]
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Phillips 66 grows in Texas, Louisiana to feed refineries

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Construction recently began for a new hydrotreater at the Lake Charles Refinery to meet federal Tier 3 standards for lower sulfur content in gasoline for the beginning of 2017.
Phillips 66 Sweeny refinery.  (Ryan Holeywell/Houston Chronicle)

Phillips 66 delays Sweeny startup after mechanical failure

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The 100,000-barrel-a-day Fractionator One project at Phillips 66’s Sweeny complex is part of a $3 billion capital expansion project in southern Texas launched last year.
eagle ford oil production since 2007

Eagle Ford, Bakken, Niobrara shale plays set to lose nearly 115,000 barrels per day of production next month

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The EIA said in its Drilling Productivity Report that overall U.S. oil production would fall 93,000 barrels per day to 5.12 million bpd total in November, the largest decrease recorded in the agency’s data going back to 2007.
Report: In the Eagle Ford Shale, everyone is looking to Karnes County now

Report: In the Eagle Ford Shale, everyone is looking to Karnes County now

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It’s all about Karnes County. A new analysis from Austin-based Drillinginfo shows operators are pulling back overall on activity in the Eagle Ford Shale in South Texas. But companies increasingly are focused on Karnes County, long targeted by oil and gas operators as the best part of the field. Karnes County has had 15 to