WorldOil New investment fund zeroes in on Texas oil and gas royalties Capital raised for the Sentinel fund will be used to purchase oil and gas royalties in the Permian Basin, Eagle Ford Shale, Haynesville Shale, and Barnett Shale, all located in the State of Texas where Bellatorum has a proven track record of success. Texas oil regulator acts to reduce gas flaring with new rules and incentives The Texas Railroad Commission's action made changes to the application for flaring exceptions, reducing exception time and providing incentives to use technical alternatives to gas flaring. Jim Wright’s win continues Republican control of Texas’ oil regulator “Texas will determine its own energy future, and that is a future that includes an all of the above approach led by fossil fuels,” Wright said in a statement. “Together we will find new ways to improve our climate and environment.” Texas’ energy regulator may seat its first Democrat in 26 years Despite this year’s plunge in prices and a corresponding drop in output, the state remains a major player on international markets, one eyed warily by other oil-rich nations. That outsize role also means the commission attracts more scrutiny than any other equivalent state agency. As U.S. drilling plummets to 122-year low, losses may intensify in second half The catastrophic demand decline initiated by coronavirus lockdowns significantly damaged the U.S. oil industry, with oversupply, historically low storage capacity, and low prices. Operators responded by stacking rigs and shutting-in production. Dallas Fed sees the U.S. oil industry prioritizing output over debt After all the trauma the U.S. oil industry has been through this year -- from production cuts to mass layoffs and a string of bankruptcies -- many producers say they’re still prioritizing output over reducing debt. Texas oil regulator exceeds state’s annual goal for plugging abandoned wells For the fourth straight year the Railroad Commission of Texas has exceeded its performance target of plugging abandoned oil and gas wells throughout the state. With the fiscal year ending on Aug. 31, the agency plugged 1,477 orphan wells in Fiscal Year 2020, which exceeded the target of 1,400 set by the Legislature. Liberty Oilfield Services puts Schlumberger tech in its yards, Halliburton in its crosshairs “Customer demand has told us to grow at this pace, and then deals like this come to us,” Liberty CEO Chris Wright said in an interview after the deal was announced on Tuesday. “Our goal with this acquisition is to keep getting better, but to the extent we succeed at that, it probably leads to us being the leader sometime down the road.” Texas oil regulator stands by to assist with Laura-related leaks or spills Inspectors are ready to respond to reports of leaks or spills or other issues in oil and gas operations, pipelines, natural gas utilities, liquified petroleum gas (LP-gas), and coal and uranium surface mining operations. ShaleTech: Eagle Ford–Austin Chalk Shales “Cheap drilling,” but very few takers