Tag: West Texas

Rallying Permian beats anew as heart of Texas oil

The Permian Basin, which helped define the Texas oil business for 50 years then hit the skids, is back big-time, and a new government report makes the point.  More »

Shale gas producer plans $400M IPO

Colorado-based shale gas producer Vantage Energy told regulators Monday it is planning to go public for $400 million.  More »

US oil spending could hit $165B on global conflicts, report says

Oil and gas producers could boost their annual spending to $165 billion in the United States as conflicts in Iraq and elsewhere send crude prices higher, according to a report released by Barclays on Wednesday.  More »

Study: Cline Shale could have $20 billion impact

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.  More »

Kinder Morgan spending $671 million on carbon dioxide push

The company plans to boost CO2 production operations in Colorado as well as expand its 500-mile Cortez Pipeline that moves CO2 from southwestern Colorado to eastern New Mexico and West Texas for use in enhanced oil recovery (EOR) projects.  More »

Big Oil comes up short in shale

The same North American oil patches that have lifted Pioneer and other independent oil producers to an unprecedented status in the energy industry haven’t come up gushers for major integrated oil companies like Royal Dutch Shell and BP.  More »

Long-term investors should be wary of rapidly declining energy assets, PE investor warns

In the last three decades, up to three-quarters of all upstream companies have “destroyed shareholder value,” yet Wall Street investors prize some wonky metrics over the inevitable: Oil-producing assets, especially in shale plays, decline quickly and are often costly to replace, a private equity investor said Wednesday.  More »

Wind power hits Texas record

The new West Texas transmission lines helped Lone Star wind power reaching new gusty heights, reaching a record of more than 10,000 megawatts of generation late Wednesday night.  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 »

Apache’s production hit by weather, asset sales and spending cut

Apache Corp. said Thursday that its Permian Basin and central region production took a hit in the fourth quarter due to severe weather.  More »

Houston company sells Permian Basin acreage for $950 million

A subsidiary of Denver producer QEP Resources has agreed to buy oil and gas properties in West Texas’ Permian Basin for $950 million, a move to hike the oil on its books, the company said Monday.  More »

Renewable energy leads growth for Texas’ electric grid

Renewable energy from windy West Texas has outpaced the growth of coal, natural gas and other power resources feeding Texas’ electric grid, according to a recent report by the Energy Information Administration.  More »
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