Tag: horizontal drilling

Oklahoma lawmakers to unveil new tax rate proposal for wells

An incentive for a 1 percent tax rate for horizontally drilled oil and gas wells would be increased to 2 percent and extended to all wells drilled in Oklahoma under a bill drafted in the Oklahoma Legislature on Monday.  More »

Report: Horizontal rigs surging in Permian Basin

Half the increase in horizontal drilling over the last five months has happened in the Permian Basis, according to a new U.S. Energy Information Administration report.  More »

Oil tax incentive change part of Oklahoma budget debate

The Legislature this year also has yet to reach an agreement on a generous tax incentive currently in place for horizontally drilled wells that reduces the tax from its regular rate of 7 percent to 1 percent.  More »

Shale boom sends U.S. crude production to 28-year high

Output rose 78,000 barrels a day to 8.428 million, the most since October 1986, according to Energy Information Administration data.  More »

Panel: Colliding well bores, export ban threaten booming US drilling

In the past two years, souped-up rigs have spun wells into U.S. soil faster than ever, but limited water supplies and other looming challenges threaten to constrain future drilling investments, industry observers said Wednesday.  More »

Company overcomes major obstacles to complete lengthy interstate drill

The 11,065-foot span is raising speculation that it was the longest horizontal length that ever has been drilled on land and under a river, one of the biggest obstacles Mother Nature can throw at a pipeline drill.  More »

Pumps move to the Permian under market pressure

Rigs designed for horizontal drilling made a big move last year into the Permian Basin, the last major U.S. oil patch to remain a stronghold for older vertical units. But that’s small relief two years after a surge of oil field services startups left the U.S. market with far too much fracturing equipment and sent prices for fracturing jobs plummeting.  More »

Poll finds Americans lack understanding of key energy issues

A new UT poll finds contradictory opinions about energy, with large majorities of Americans enthusiastic about the natural gas boom, but not about the technology that has made it possible.  More »

Two West Texas plays poised for surge in production, investment

The advent of horizontal drilling could push investment in two of the West Texas oil field’s key plays to $22 billion by 2018.  More »

Mitchell saw riches where most saw stone

The oil and gas boom that is revolutionizing the politics and economics of energy worldwide started in the 1980s with the solitary — even stubborn — persistence of George Mitchell.  More »

High oil prices, drilling technology fuel Permian Basin boom

Recent breakthroughs in drilling and extraction technology are giving producers a whole new set of targets to go after in one of Texas’ oldest oil-producing regions.  More »