Space Travel News  
OIL AND GAS
Texas oil production holding steady
by Daniel J. Graeber
Austin, Texas (UPI) Nov 29, 2016


disclaimer: image is for illustration purposes only

Two shale counties in Texas dominated the landscape, though crude oil production is holding relatively stable, data from the state show.

The Railroad Commission of Texas, the state energy regulator, reported preliminary production of crude oil averaged 2.38 million barrels per day in September, less than 1 percent lower than the previous month and 1.6 percent lower than for September 2015.

Texas is the No. 1 oil producer in the United States and, over the past 12 months, produced 995 million barrels of crude oil. A recent survey, meanwhile, from the U.S. Geological Survey found the Wolfcamp shale reserve within the Permian basin in Texas could be the largest oil and gas deposit ever assessed in the country.

State data show Midland County, which hosts part of the Wolfcamp, produced 5.06 million barrels of oil for the whole month of September. Karnes County, which hosts parts of the Eagle Ford shale, produced 5.09 million barrels of oil in September.

The entire Permian basin, which includes Wolfcamp, holds nearly as many active oil rigs as the rest of the United States combined. The federal Energy Information Administration reported that, as crude oil prices recover and spending starts to move back into the U.S. energy sector, a full-scale rebound is possible for inland resources.

Crude oil prices have recovered to the upper $40 per barrel range, after sinking below $30 per barrel in early 2016. Based on prices at the start of November, the price for West Texas Intermediate crude oil, the U.S. benchmark, is up 1.1 percent, or 54 cents per barrel from last year.

The Federal Reserve Bank of Dallas said last month that, despite a period of historically lower crude oil prices, there were broad indicators of recovery in the Texas economy. Addressing the bank in mid November, Jim Diffley, a senior director at consultant group IHS, said the energy sector in oil-rich states like Texas likely bottomed out, but it will be a long road to recovery.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Why Mexico's Oil Reform Is A Huge Opportunity For Investors
London, UK (SPX) Nov 29, 2016
When a massive country de-nationalizes its entire energy sector and opens its oil and gas doors for the first time ever to foreign companies, the opportunities are staggering. Welcome to the 'new' Mexico, and welcome to the early stages of an oil and gas game that will be bigger-from an investor's perspective-than anything in history. Mexico's move to implement historic energy reform legislation ... read more


OIL AND GAS
Russia to face strong competition from China in space launch market

Vega And Gokturk-1A are present for next Arianespace lightweight mission

Antares Rides Again

Four Galileo satellites are "topped off" for Arianespace's milestone Ariane 5 launch from the Spaceport

OIL AND GAS
Mars Ice Deposit Holds as Much Water as Lake Superior

Computer glitch blamed for European Mars lander crash

ESA's new Mars orbiter prepares for first science

NASA field test focuses on science of lava terrains, like Early Mars

OIL AND GAS
Skygazers gawp at extra bright 'supermoon'

There's an 'extra-super' Moon on the rise

November 14th's Super-Close Full Moon

China "well prepared" to launch Chang'e-5 lunar probe in 2017: top scientist

OIL AND GAS
New analysis adds to support for a subsurface ocean on Pluto

Pluto follows its cold, cold heart

New Analysis Supports Subsurface Ocean on Pluto

Mystery solved behind birth of Saturn's rings

OIL AND GAS
Scientists from the IAC discover a nearby 'superearth'

Earth-bound instrument analyzes light from planets circling distant stars

Protoplanetary Discs Being Shaped by Newborn Planets

Scientists unveil latest exoplanet-hunter CHARIS

OIL AND GAS
Ariane 5's impressive 75 in-a-row launch record

Vega ready for GOKTURK-1A to be encapsulated

Star One D1 arrives for heavy-lift Ariane 5 in Dec with 2 SSL-built satellites

SLS propulsion system goes into Marshall stand ahead of big test series

OIL AND GAS
Material and plant samples retrieved from space experiments

Chinese astronauts return to earth after longest mission

China completes longest manned space mission yet

Chinese astronauts accept 1st earth-space interview

OIL AND GAS
Asteroid impacts could create niches for life

New Ceres Views as Dawn Moves Higher

Report confirms scientific benefits of NASA's Asteroid Redirect Mission

Icy surprises at Rosetta's comet









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.