EagleClaw, a Texas-based energy company, will be acquiring PennTex Permian LLC in order to continue its growth throughout the Delaware Basin. PennTex Permian LLC is currently a subsidiary of PennTex Midstream Partners LLC, and will become a part of EagleClaw’s long-term strategy to develop throughout the area. There are more than 75,000 acres of properties involved … Continued
Pioneer Natural Resources recently reported that its earnings have beat its projected estimates, with production growth slated to be over 13% this year. Prior estimates had hovered at 12%, but the shale oil reserves have produced more crude oil than they had initially estimated. As with many other shale gas and oil companies, Pioneer Natural Resources … Continued
The United States has been steadily producing more oil through the past decade. But what are the consequences of this increased oil production? Increased oil production is having many benefits not only for the United States but also for the world as a whole. Improved oil production is stabilizing the American economy, reducing reliance upon … Continued
The Organization of Petroleum Exporting Countries (OPEC) has reportedly increased its oil production to record numbers, producing a total of 32.82 million barrels per day through June of 2016. Despite this, the OPEC supply will not be able to exceed demand within these regions, which has been steadily increasing. OPEC’s Modern Oil Production Strategy In … Continued
Though there have been many theories about potential environmental downsides to fracking, very few have discussed the environmental benefits. Fracking has an extraordinary number of positives for the environment and local economies, and very few negatives (if any) have ever been scientifically proven. Natural Gas Replaces Coal Power One of the incredible advantages to fracking … Continued
Everyone can see that the Texas economy is changing. What used to be a primarily agricultural state has now steadily moved towards advanced technology and energy production. Many of the changes in Texas (even the resurgence of the IT industry) can be directly traced back to the development of Texas as an energy superpower. Texas … Continued
Historically, the oil rig count in the United States has always been used to gauge the current temperature of the oil market. When the US oil rig count goes up, confidence within the oil and gas industry is high; when it goes down, investors are generally pulling back. The US oil rig count is currently … Continued
Two additional oil finds have recently been made by Statoil off the shore of Newfoundland, during an exploratory project that had drilled a total of nine wells over the course of about a year and a half. The exploration was conducted around a 310 mile area around St. John’s. These new oil finds may be … Continued
Friends, The UK “Brexit” Proves that the people of the world are fed up with bureaucracies “multi-culturalism”, And the “Status Quo” Elitists. This is why Donald Trump’s ideas are so popular In 1973 when the EU was formed by 28 countries they made up 36% of the world economy. Today they make up 17%. Thank … Continued
The long-awaited rebound that the oil and gas industry has been banking on may already be here. Per barrel prices have been steadily rising since their sub-$40 decline, and have reached $51 per barrel as of June 2016. The quickly rising prices may indicate that a solid rebound is on the way, which will be … Continued