US midstream company Energy Transfer is weighing a plan to store crude in idle pipelines as shippers scramble to find available storage. The company is looking for ways to idle two pipelines in Texas by “moving product around” and use them as storage space by mid-May, Energy Transfer told Argus today. The two lines would provide about […]Read more "Energy Transfer weighs crude storage in idle pipelines | Argus Media"
CALDWELL — Three years ago, Allen Startz found himself in an unwanted kinship with thousands of other oilfield workers in South Texas’ Eagle Ford shale — laid off with few prospects nearby. He left his home in Bryan to work in the Permian Basin in West Texas, making plenty of money, but growing exhausted from […]Read more "Overshadowed by Permian, but Eagle Ford making its own comeback – HoustonChronicle.com"
Tooling Up The oil tools sector relies on old school and new tech to ride the Permian wave. By Paul Wiseman How do you mix new technology with old-school values to stay abreast of customers’ ever-changing operations? This sharing of knowledge boosts teamwork in ways not possible before. Two Permian-based downhole tools companies are using […]Read more "Tooling Up |pboilandgasmagazine.com"
Vernal • Uinta Basin officials are pushing a project they say could quintuple oil production here, bring higher prices and create 27,000 jobs. The plan? Building a 150-mile railroad to allow transporting oil from the basin to out-of-state markets. There’s one big hitch: It carries a price tag of $1.4 billion. Supporters say that’s a […]Read more "Promoters of $1.4 billion railroad in Utah’s oil country want state help – The Salt Lake Tribune"
HOUSTON (Reuters) – Even as crude prices hover near four-year highs, U.S. oilfield service firms’ third-quarter results due out in coming days will reflect a shaky recovery, as their customers face drilling constraints and pressure to hold down spending. Oil producers are holding off finishing new wells, and cost pressures from tight labor markets and […]Read more "U.S. oil service firms face tough quarter despite high crude prices | Reuters"
WASHINGTON, Oct 11 (Reuters) – A coalition of U.S. business groups fighting President Donald Trump’s trade tariffs has launched an advertisement aimed at telling voters ahead of the midterm elections that the measures are costing American businesses and consumers $1.4 billion a month. The group says that in Michigan, a state with several competitive elections […]Read more "U.S. business group says Trump China tariffs cost $1.4 bln/month | Reuters"
The Permian Basin will need $310 billion over the next five years in order to continue to grow and potentially add 3 million barrels of oil production by 2023. The investments would fund the drilling and completion of up to 41,000 new oil wells in the West Texas region, according to a new report by […]Read more "Report: Permian will need $300B over next 5 years to maintain growth – Midland Reporter-Telegram"
(Reuters) – A Colorado ballot initiative that would sharply increase the required distance between new oil wells and populated areas will go before voters in November, Colorado officials said on Wednesday. The proposal, opposed as anti-fracking by oil and gas producers, would require new projects to be at least 2,500 feet (762 m) from buildings, […]Read more "Colorado to vote in November on proposal to toughen oil drilling rules | Reuters"
We’re now seeing the impacts of the steel tariffs flow through and they’re affecting, of course, tubulars and other steel products that we use. We can see steel easily compared to last year would be 20% to 25% over last year’s cost for the same products,” Timothy Dove, CEO, Pioneer Natural Resources, leading producer in […]Read more "Trump’s Tariffs Raising Costs For The U.S. Oil And Gas Industry – And Americans"
Oil drillers are burning excess natural gas to keep the crude oil ﬂowing. Natural gas is mostly a byproduct of crude oil drilling in the Permian Basin. So the shortage of pipeline capacity to transport the gas to market has played a role in companies burning — or ﬂaring — large amounts of natural gas […]Read more "Burn, baby, burn: Natural gas is cheap, and Texas drillers are flaring more of it | Economic Snapshot | Dallas News"