Tag: West Texas

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 »

More oil and gas drillers turn to water recycling

Drillers have found a way to get by with much less water: They recycle it using systems that not long ago they may have eyed with suspicion.  More »

Cabot selling Oklahoma, Texas properties to focus on Marcellus

Cabot Oil & Gas Corp. said Thursday has two deals to sell assets in Oklahoma and Texas for $188 million and will use the proceeds to focus on the Marcellus shale.  More »

Number of new Eagle Ford wells has jumped in 2013

The Eagle Ford Shale is continuing to pick up steam. Operators have drilled 15.3 percent more wells this year than in the same time period last year.  More »

Booming oil towns prepare for inevitable bust

The surge in oil drilling has drawn money and men like a magnet to run-down communities that haven’t seen a boom since the 1980s. But leaders and residents here are increasingly mindful that the runaway riches tapped by hydraulic fracturing will eventually run out.  More »

New facilities will grow natural gas as oil field fuel

Stabilis Energy and Flint Hills Resources have announced plans to build up to five natural gas liquefiers to serve oil field operations, with the first facility planned to launch in the Eagle Ford Shale in January 2015.  More »
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