Tag: West Texas

Oil workers in West Texas and New Mexico were underpaid millions, Labor Department says

Among the problems found, employers were failing to include bonus payments when calculating overtime rates, weren’t paying for time spent working off-the-clock and paying flat rates despite the hours worked by employees.  More »

3 workers killed in West Texas oil field rig explosion

The well is owned by Parsley Energy of Midland. Company spokeswoman Lisa Elliott says the workers who died were employed by Mason Well Service Ltd. of Odessa, an independent contractor.  More »

Halliburton exec: “Boom town” costs falling amid oil slump

The service costs associated with housing and feeding employees in remote locations like the Permian Basin in West Texas and the Bakken Shale in North Dakota typically skyrocket in boom times, Halliburton President Jeff Miller said.  More »

These 19 counties generate the most oil and gas taxes for Texas

Which parts of the state are generating the most in oil and gas taxes?  More »

McClendon venture raises $500 million for mineral rights

McClendon doesn’t appear to be slowing down his new venture even as oil prices have sunk below $75 a barrel.  More »

McClendon’s West Texas venture plans Wall Street debut

Wildcatter Aubrey McClendon’s oil and gas startup in West Texas may be the latest venture in the Permian Basin to beckon for Wall Street investors, sitting astride one of the most lucrative U.S. shale plays.  More »

ONEOK buys Chevron NGL pipelines for $800 million

The deal gives the company 2,600 miles of natural gas liquid gathering pipelines from southeast New Mexico to Mont Belvieu.  More »

Halliburton execs point to U.S. shale as profits leap 70 percent

U.S. shale plays have become laboratories for experiments with more production stages, more sand and, in West Texas, a lot more horizontal rigs – a development Halliburton executives say has required an unprecedented level of oil-field service intensity.  More »

Frac sand company sees IPOs today, mergers tomorrow

It’s a good time to be among the handful of companies providing sand to the oil industry — one of the largest projects that the market will grow 30 percent in 2014.  More »

Brent crude at a nearly 4-year low

West Texas intermediate crude dropped 8 cents to $85.74 a barrel on the New York Mercantile Exchange.  More »

Speculators push oil into bear market as supply rises

Money managers reduced bets on rising oil prices by the most in five weeks, helping push U.S.- traded futures into a bear market.  More »

Crude prices fall to lowest levels in years as market pressures converge

Crude oil prices fell to the lowest levels since 2012 early Thursday, as concerns about both oversupply and the global economy weighed on traders.  More »

Houston startup raises $700M to tap aging Permian fields

The months-old company wants to pump money into the Permian Basin’s aging wells that could prosper again with carbon dioxide injections.  More »

New pipelines threaten U.S. Gulf Coast oil premium

U.S. Gulf crude is set to drop below international prices, after trading at a premium for the longest stretch in a year, as new pipelines bring additional supplies to the region.  More »

Rigs targeting gas in U.S. gain on rise in Texas drilling

The rebound in gas rigs threatens to come at the expense of oil drilling, as U.S. crude has dropped by more than $10 a barrel over the past three months.  More »
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