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south texas

Report: Oil falling, but Eagle Ford, Bakken output on the rise

TPH: Production from Big Three shale plays will suffer with $50 oil

The lingering crude slump is expected to drive down production next year in the nation’s premiere oil patches — West Texas’ Permian Basin, South Texas’ Eagle Ford and North Dakota’s Bakken shale.
Karnes County Eagle Ford 10 jl

Enervest buys up Eagle Ford acreage for $125 million

The sale of Alta Mesa Eagle to EnerVest, which is expected to close by the end of the month, includes 7.8 million barrels of oil equivalent in reserve, most of which are in Karnes County, one of the most active regions within the South Texas shale play.
(Spencer Platt/Getty Images)

Abraxas CEO trims his own pay

Robert Watson, San Antonio-based Abraxas Petroleum Corp.’s chairman, CEO and president, volunteered to cut his own pay by 20 percent, according to a Securities and Exchange Commission filing. “We take great pride in aligning our interests with shareholder interests,” Watson said in the filing. “As our shareholders continue to suffer from a difficult environment caused
(Ty Wright/Bloomberg)

Houston-based Milagro Oil & Gas seeks bankruptcy protection

Milagro said in court papers Wednesday it had $1 million to $10 million in assets and $500 million to $1 billion in liabilities and that it couldn’t pay back its debt because its business became unprofitable as crude prices fell.
A group of land owners and conservationist walk on a gasline right of way during a field day to see native plant restoration at Dobie Ranch in Live Oak County, where gas and oil lines have been given right of way, on Tuesday, Sept. 24, 2013. The "field day" several groups including the U.S. Department of Agriculture's Natural Resources Conservation Service, Texas A&M Agrilife Extension, Caesar Kleberg Wildlife Research Institute and South Texas Natives. (Bob Owen/San Antonio Express-News)

New safety rules for South Texas pipeline inspectors mandate “buddy system,” quicker gun licenses

The policy changes follow complaints by Commission Chairman David Porter that the federal government had failed to protect pipeline rights-of-way from becoming pathways for illegal immigration and cartel activity.
(Eddie Seal/Bloomberg)

Battlecat snags $220 million in equity for South Texas drilling

The company has leases in the Eagle Ford Shale and will focus development there and in other shale plays in South Texas.

Valley hopes for economic boom from Mexico’s energy measures

The Rio Grande Valley, which has missed out on most the oil and gas boom in the nearby Eagle Ford Shale, may get its own boost from increased economic activity tied to Mexico’s energy overhaul.

Superior Crude to pay $1.6M oil spill penalty

The Environmental Protection Agency and the U.S. Department of Justice say the consent decree was filed Wednesday.
(Ken Childress)

Carrizo snaps up Eagle Ford acreage for $250M

The debt-funded deal closed late last week, but Carrizo said it is scheduled pay the bulk of the purchase price by February.
(Tom Reel/San Antonio Express-News)

Cabot snaps up more Eagle Ford acreage for $210M

With the purchase, Cabot Oil & Gas will add about a third to its land position in South Texas.