WorldOil Texas issued nearly 69% fewer drilling permits in June 2020 than in year prior The Railroad Commission of Texas issued a total of 312 original drilling permits in June 2020 compared to 1,001 in June 2019. The June 2020 total includes 262 permits to drill new oil or gas wells, three to re-enter plugged well bores and 21 for re-completions of existing well bores. Shale oil production may take years to recover, despite a short-term uptick Looking out 18 months, U.S. output will still be around 16% below its peak in February, according to an average of surveys from the IEA, Genscape, Enervus, Rystad and IHS Markit. It will probably be at least 2023 before the U.S. again hits its record close to 13 million barrels a day. Texas oil regulator pursuing plan to reduce gas flaring On June 16th, the Railroad Commission of Texas heard from the state's oil and gas trade associations, environmental advocacy groups, and several oil and gas producers about the issue of flaring and how Texas can implement meaningful reforms to reduce flaring before oil and gas activity returns to previous highs. Texas Alliance working with DOE to solve key energy issues The Texas Alliance of Energy Producers held a virtual meeting on May 20 to provide its members, and invited guests, an update on problem issues that the association is working to solve. Texas issues 50% fewer drilling permits in April 2020 versus one year ago The Railroad Commission of Texas issued a total of 456 original drilling permits in April 2020 compared to 909 in April 2019. World Oil survey: Texas EandP professionals favor prorationing by wide margin Railroad Commission of Texas (RRC) Chairman Wayne Christian’s sudden April 29 declaration against prorationing appears to run counter to what a majority of Texas EandP professionals would like the agency to do on May 5, according to results of a new World Oil survey. Oilfield service companies feeling the strain of shale’s collapse No one is feeling the pain of an oil collapse more than the shale producers. Except, perhaps, their suppliers. Marathon’s ‘frac holidays’ in Q2 will cut 2020 CAPEX spend Marathon Oil is reducing its capital spending this year to about half of 2019 levels, joining a parade of shale drillers doing the same with oil prices trading at depressed levels as demand suffers due to coronavirus. Texas RRC Chairman Wayne Christian: We must stabilize worldwide oil markets In an exclusive World Oil guest editorial, Wayne Christian, Chairman, Railroad Commission of Texas says time is of the essence to identify and implement a solution to global oil market turmoil. Shale plays, oil patch see tens of thousands of layoffs across the industry One of the most painful busts in the history of crude oil happened just six years ago, when a sharp price drop cost 200,000 industry professionals, almost half the entire workforce, their jobs.