Posts filtered on Tag
Sweetwater envisioned becoming a major player in the hydraulic-fracturing boom, thanks to its location atop the Cline Shale, once estimated to be the nation’s largest underground petroleum formation.
An updated study estimates that the oil and gas industry in a slice of West Texas could have a $20 billion economic impact and support more than 30,000 jobs by 2022.
A new study estimates that the oil and gas industry had a $14.5 billion impact last year on the Cline Shale region, east of the traditionally busier drilling area of the Permian Basin.
Occidental Petroleum Corp. said Tuesday it is moving ahead with a major pipeline to move oil out of the emerging Cline Shale play in West Texas, which has drawn the intrigue of oil companies.
The Cline Shale is rapidly becoming one of the hottest new plays for natural gas producers — and midstream companies like Enterprise are hustling in to provide the needed infrastructure.
Texas is awash in oil and gas, with rigs proliferating from the Permian Basin to the Haynesville Shale. Now, another shale play in West Texas is causing a stir, with early estimates of recoverable reserves at 30 billion barrels of oil.