http://www.worldoil.com WorldOil 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. Pioneer buys Permian’s DoublePoint Energy in $6.4 billion deal https://www.worldoil.com/news/2021/4/2/pioneer-buys-permian-s-doublepoint-energy-in-64-billion-deal Pioneer Natural Resources Co. is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the U.S. Permian Basin. New Mexico slashes routine gas flaring allowances https://www.worldoil.com/news/2021/3/26/new-mexico-slashes-routine-gas-flaring-allowances The three-member New Mexico Oil Conservation Commission voted unanimously for rules that are set to go into effect as early as May. Oil companies, gas processing plants and pipeline operators will have until 2026 to get their gas emissions down to 2% of production. Permian methane emissions return to pre-pandemic levels https://www.worldoil.com/news/2021/3/24/permian-methane-emissions-return-to-pre-pandemic-levels Emissions from the Permian basin dropped 60% from March to April last year as oil producers shut in wells and cut back on new ones due to tumbling crude prices. But methane emissions are now back at pre-pandemic levels as drilling ramps up, according to the non-profit Environmental Defense Fund. Shale’s fiscal discipline means missing out on rising oil prices https://www.worldoil.com/news/2021/3/16/shale-s-fiscal-discipline-means-missing-out-on-rising-oil-prices More focused than ever on keeping spending in check, shale operators haven’t been drilling new wells fast enough to keep up with output declines in older ones. So, next month, their combined production will edge lower by 47,000 barrels a day to about 7.46 million, according to the U.S. Energy Information Administration. Oxy’s Permian output slump drives millions in midstream losses https://www.worldoil.com/news/2021/2/24/oxy-s-permian-output-slump-drives-millions-in-midstream-losses Occidental has long held more pipe space than it needs from the Permian, in the hope that its shale business would eventually grow big enough to make use of it. But last year’s oil-price crash, and, more recently, the winter freeze in Texas, caused the company to cut investment and production in an effort to prioritize near-term cash flow for debt reduction. 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.