As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.
A rebound in oil prices that bottomed near $44 a barrel in March has provided some relief to stronger companies that have been able to compensate with cost cuts and more efficient operations. For many smaller, cash-strapped producers, current prices of almost $60 still aren’t enough to make ends meet compared to the $100-plus prices seen during the boom days.
San Antonio-based Abraxas Petroleum Corp. provided an update this week of its Eagle Ford Shale and other operations and acquisitions. Here’s what the company is doing in South Texas: It has acquired approximately 440 net acres in McMullen County known as Dilworth East, where it believes it can put as many as four 5,000-foot lateral [...]
The nation’s 16 best moot-court programs are preparing to face off at the federal courthouse in Houston this month. They’ll be debating an issue at the heart of the United States current energy boom: hydraulic fracturing.
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