http://www.worldoil.com WorldOil Permian oil output nears pre-pandemic levels as crude prices build driller confidence https://www.worldoil.com/news/2021/4/13/permian-oil-output-nears-pre-pandemic-levels-as-crude-prices-build-driller-confidence Crude production in the Permian basin will reach 4.466 million barrels a day in May, the most in a year, and rig counts have touched a one-year high, according to the latest data from the Energy Information Administration. Texas oil and gas signals recovery as March 2021 drilling permits outpace 2020 https://www.worldoil.com/news/2021/4/9/texas-oil-and-gas-signals-recovery-as-march-2021-drilling-permits-outpace-2020 The Railroad Commission of Texas issued a total of 798 original drilling permits in March 2021 compared to 744 in March 2020. The March 2021 total includes 682 permits to drill new oil or gas wells, 13 to re-enter plugged well bores, and 99 for re-completions of existing well bores. Texas Alliance: Last week’s rare cold weather stressed the power grid, but gas wasn’t the culprit https://www.worldoil.com/news/2021/2/20/texas-alliance-last-week-s-rare-cold-weather-stressed-the-power-grid-but-gas-wasn-t-the-culprit Proponents of expanded renewable forms of energy (and opponents of fossil fuel energy, including petroleum) have taken this catastrophe as an opportunity to demonize natural gas, suggesting that falling natural gas supplies were the primary source of the loss of power supply. Falling Texas crude output becomes a global oil market crisis https://www.worldoil.com/news/2021/2/18/falling-texas-crude-output-becomes-a-global-oil-market-crisis In the past, the weather-related oil disruption would largely have been a U.S. issue. Now it’s unmistakably global. Crude markets in Europe are rallying as traders replace lost U.S. exports. OPEC and its allies must decide how much longer they keep millions of barrels of their supply off the market. Texas rattles gas markets by limiting out-of-state sales during blackouts https://www.worldoil.com/news/2021/2/18/texas-rattles-gas-markets-by-limiting-out-of-state-sales-during-blackouts Texas Governor Greg Abbott told a media briefing on Feb. 17 that he was banning gas from leaving the state through Feb. 21 to ensure in-state power generators had ample supplies. Abbott said he was forced to act as millions of Texans remain without power for a third day amid frigid temperatures, with no clear timeline for restoring service. U.S. oil output plunges as Arctic air freezes Permian shale fields https://www.worldoil.com/news/2021/2/16/us-oil-output-plunges-as-arctic-air-freezes-permian-shale-fields U.S. oil production has plunged by more than 2 million barrels a day as the coldest weather in 30 years brings havoc to key producing states that rarely have to deal with frigid Arctic blasts. Regulators crack down on Texas shale gas flaring https://www.worldoil.com/news/2021/2/10/regulators-crack-down-on-texas-shale-gas-flaring Texas’s energy regulator is taking an uncharacteristically critical approach toward burning off excess natural gas, a sign that growing pressure from environmentalists and investors to curb the controversial practice is paying off. Texas Alliance’s Petro Index shows deep trough in state’s oil and gas economy during 2020 https://www.worldoil.com/news/2021/1/29/texas-alliance-s-petro-index-shows-deep-trough-in-state-s-oil-and-gas-economy-during-2020 “The Texas upstream oil and gas economy was already in a state of decline before Covid-19,” said Alliance Executive V.P. and Petroleum Economist Karr Ingham, in exclusive comments to World Oil, adding that the demand contraction in the U.S. and globally was easily the sharpest demand drop in the shortest amount of time on record. Devon Energy joins shale producers pledging restraint as oil rallies https://www.worldoil.com/news/2021/1/7/devon-energy-joins-shale-producers-pledging-restraint-as-oil-rallies “I have a hard time seeing the need for U.S. producers over the next several years to get back to double-digit growth,” Devon Energy CEO Rick Muncrief said in an interview. “For this management team, if we really think about 2021, let’s keep it flat.” Texas oil and gas regulator exceeds well site inspection goals https://www.worldoil.com/news/2021/1/7/texas-oil-and-gas-regulator-exceeds-well-site-inspection-goals In 2018, the Railroad Commission began work toward the ambitious goal of inspecting every one of the nearly 440,000 oil and gas wells in the state at least once every five years. The agency is well on its way to exceeding its goal again this year.