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Output from the Eagle Ford has been falling since March 2015.
Karnes County is still pumping more crude oil than any other county, with 6 million barrels produced in November.
The Houston-based oil field services company launched an investigation of its chemicals and data analysis software after an Australian fund manager in November disputed the accuracy of Flotek’s self-reported results.
A relatively small and quiet oil field services company, Keane Group is more than doubling its size through the deal with the goal of additional future acquisitions, said Keane CEO and Chairman James Stewart.
South Texas’ Eagle Ford shale saw four more rigs go dark this week, while West Texas’ Permian Basin lost another three rigs, according to according to weekly data released by oil field services firm Baker Hughes.
The oil-soaked Permian Basin in West Texas, which had remained a favorite among U.S. exploration and production companies despite the prolonged crude slump, showed continued signs of weakness this week.
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.
Despite pulling back from some of its oil fields, Noble Energy cranked up production in recent months, with plans to send more oil to market in the fourth quarter than it had originally projected.
The total count for oil rigs operating across North America now stands at 578, down from a peak of 1,609 in October 2014.
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.