Eagle Ford ///

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

Craig Fleming, Kurt Abraham, World Oil

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

Jim Redden, Contributing Editor

“Cheap drilling,” but very few takers

Texas oil regulators update rules to limit gas flaring

While the amount of gas produced in Texas declined by 13 percent from June 2019 to May 2020, the portion of produced gas that was flared dropped even more sharply by 79% during that same time period.

After brutal slide in state’s upstream sector, Texas Alliance looks toward market bottoming out

During second-quarter 2020, COVID-19, as a global economic event, laid waste to energy markets, and due to the resulting economic lockdown and deep contraction in energy demand, “dealt a gut-punch to the Texas oil and gas industry, which continues midway through the year.” That is the assessment of the Texas Alliance of Energy Producers, and it is borne out by the numbers coming from the association’s Texas Petro Index.

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

Craig Fleming, World Oil

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 E&P professionals favor prorationing by wide margin

Staff, World Oil

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 E&P 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.