Category: Texas

Sabine Oil & Gas working to avoid defaulting on its debt

All told, Sabine had $2.82 billion in debt as of March 15, with $326.8 million in cash on hand.  More »

Electric industry pushes back against bill restricting minimum-use fees

During a late-night hearing in Austin on Wednesday, the companies argued that “minimum use fees” — charged to customers who use too-little electricity each month — are fundamental to the economics of some power plans.  More »

Dallas Fed: Texas job growth to slow, Houston to see the biggest impact

Declines in the oil and gas industry, tight labor markets and weakening exports led to the revision, the Federal Reserve Bank of Dallas wrote Tuesday.  More »

Report: Texas housing more resilient to oil prices

Texas’ real estate market should be able to weather lower oil prices better than it did in the 1980s, but if prices fall further, the results could be much more dire, a Texas A&M real estate economist says.  More »

Texas oil taxes crumple 40 percent during price collapse

As oil prices have fallen, hundreds of drilling rigs have been swept to the sidelines from the Permian Basin near Odessa and Midland to the Eagle Ford Shale in the south.  More »

Oil tool suppliers cut another 360 jobs in Texas

Baker Hughes led the pack, cutting 191 jobs last month at separate facilities in Kilgore and Snyder, Texas, according to the Texas Workforce Commission. That’s part of the firm’s plan to ax 7,000 jobs in the first quarter.  More »

Volatile Bakken crude expected to keep flowing through Texas

AUSTIN – Despite falling oil prices, production cutbacks and persistent safety concerns, rail officials plan to continue shipping millions of gallons of volatile crude oil from the Bakken region of North Dakota through Texas, according to updated records provided by state officials on Wednesday. Average weekly volumes reflect little change from a first batch of […]  More »

84th Texas Legislature: Energy Consumer Watchlist

The 84th session of the Texas Legislature is in full swing, with scores of bills already filed that could end up helping or harming Texas energy consumers.  More »

These 19 counties generate the most oil and gas taxes for Texas

Which parts of the state are generating the most in oil and gas taxes?  More »

West Texas frac sand proposal abandoned

The businessman, Lee Pfluger, ended months of increasingly rancorous debate with a dramatic flourish, making his announcement during a highly anticipated civic meeting in San Angelo on Monday.  More »

BHP backing away from U.S. drilling

BHP Billiton Ltd., the biggest overseas investor in U.S. shale, will cut the number of its rigs there by about 40 percent as plunging petroleum prices add to concerns about lower iron ore earnings.  More »

Beaumont event touts benefits of Keystone XL

Crude has long coursed from Canada to Oklahoma through the existing Keystone pipeline. Southeast Texas connected to that line in January last year when the Keystone XL southern leg ending in Nederland was complete, and Gulf Coast plants are already refining crude from Canadian fields.  More »

Plunging oil prices take toll on Texas budget outlook

Republican Comptroller Glenn Hegar said his estimate expects “moderate expansion” in the Texas economy while reflecting uncertainties in oil prices..  More »

Oil rigs fall by most since 1991

Producers idled the most oil rigs in a single week since 1991, as a more than 50 percent fall in crude prices further impacted drilling.  More »

Halcón offers second round of budget cuts as crude continues fall

The Houston-based company said yesterday it will spend between $375 million and $425 million drilling and completing new wells this year.  More »
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