At the George R. Brown Convention Center on Wednesday, wildcatters gathered to negotiate deals for oil and gas properties in Texas and elsewhere during the industry’s largest oil lease swap-meet, the summer NAPE.
The bountiful ethane that comes from natural gas liquids and U.S. shale production would become more scarce, according to the IHS report. Ethane is used to make ethylene, which which is the main building block for plastics.
The CEO of Schlumberger says American oil producers are purchasing a lot more new technology in this year’s oil downturn than in previous rough patches, with new tools making up almost a quarter of the company’s revenue.
Continental Resources CEO Harold Hamm and Texas energy regulator David Porter argued that oil exports could drive more domestic crude production, with benefits rippling nationwide, from urban centers to rural areas.
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