HEW-TEX INDUSTRY NEWS ROOM
Permian Basin to Gulf Coast crude oil pipeline completed, as production grows nationwide
Pictured is a map of the route for the Epic Crude Pipeline that will run from Orla, Texas to Corpus Christi. (Photo: Contributed, Epic Crude Pipeline LLC)
A crude oil pipeline connecting the Permian Basin oilfields with the export markets along the Gulf Coast went into service last month, shipping oil hundreds of miles east across Texas.
EPIC Crude Holdings announced that its 30-inch permanent crude oil pipeline was complete on Feb. 26 and expected to go into full service by April.
It stretches from Orla, Texas – crossing the Delaware, Midland and Eagle Ford basins – to the Port of Corpus Christi where oil is exported. Read more…
Chevron leans on Permian to shower $80 billion on investors
Pressure pumps wait for hydraulic fracturing operations to begin at a Chevron drilling site in the Permian Basin – Photo: Michael Ciaglo, Staff / Houston Chronicle
Chevron Corp. plans as much as $80 billion in dividends and share buybacks over the next five years, boosting distributions by 20 percent compared with the most recent pace of payouts as the U.S. oil giant ramps up production and returns from the Permian Basin.
Mike Wirth, who took over as chief executive officer little more than two years ago, promised shareholders a mix of cost-cutting and measured production growth to offer attractive financial returns even as customers and policymakers demand lower-carbon fuels. Production from the Permian in Texas and New Mexico will double over the next five years and eventually account for a third of its global output. Read more…
Texas Railroad Commission launches two more interactive statewide data maps
AUSTIN – The Railroad Commission of Texas launched two more interactive data maps showing oil and gas drilling permit approvals and the number of wells spudded, which is when operators begin drilling a well. Information is displayed by counts, operators, county locations and on a statewide level. The data is available 24-hours a day, seven days a week beginning with Calendar Year 2018.
“With this latest interactive data on the Commission’s drilling permit approvals and wells spudded, our agency is providing more detailed insight into Texas’ energy industry,” said Wei Wang, RRC’s Executive Director. “This helps enhance our regulatory transparency and continues educating the public about one of the state’s top economic drivers.”
The Commission’s first series of interactive data on oil and gas production and plugged abandoned wells is very popular with nearly 8,000 unique page views for oil and gas production data and nearly 1,400 unique page views for the abandoned well plugging data since the information’s release in October 2019. Read more…
Oil & Gas Production Data Visualization
Oil production measured in barrels (bbl)
Gas production measured in thousand cubic feet (mcf)
Data does not include Condensate Oil production from Gas wells and Casinghead Gas production from Oil wells.
To view or copy Oil & Gas production data, go to Oil & Gas Production Data Query
If you have questions regarding the data, please contact Production Audit at Oil & Gas Division at 512-463-6726.
Data Map Accessibility
The Railroad Commission of Texas (RRC) is committed to making its website accessible to all users. However, the inherent interactive nature of these maps make accessibility more difficult. The maps were created using Microsoft Power BI, which is accessible software. For more information on the tools’ accessibility features, visit the Microsoft website at https://docs.microsoft.com/en-us/power-bi/desktop-accessibility.
If you use assistive technology and the format of these maps/charts prevents you from using them, contact the RRC’s Accessibility Coordinator by emailing [email protected] or contact the RRC through Relay Texas at http://relaytexas.com/.
To enable us to respond in the most helpful way, please be sure to communicate the following:
1) the nature of your accessibility problem;
2) the format in which you prefer to receive the material;
3) the web address of the requested material; and
4) your contact information.
For more information on accessibility, please see our Accessibility Policy.
Last Updated: 1/24/2020 3:43:18 PM – See more…
Wells Spudded Data Visualization
Data Map Accessibility
The Railroad Commission of Texas (RRC) is committed to making its website accessible to all users. However, the inherent interactive nature of these maps make accessibility more difficult. The maps were created using Microsoft Power BI, which is accessible software. For more information on the tools’ accessibility features, visit the Microsoft website at https://docs.microsoft.com/en-us/power-bi/desktop-accessibility.
If you use assistive technology and the format of these maps/charts prevents you from using them, contact the RRC’s Accessibility Coordinator by emailing [email protected] or contact the RRC through Relay Texas at http://relaytexas.com/.
To enable us to respond in the most helpful way, please be sure to communicate the following:
1) the nature of your accessibility problem;
2) the format in which you prefer to receive the material;
3) the web address of the requested material; and
4) your contact information.
For more information on accessibility, please see our Accessibility Policy.
Last Updated: 1/24/2020 3:43:18 PM – See More…
Drilling Permits Data Visualization
Data Map Accessibility
The Railroad Commission of Texas (RRC) is committed to making its website accessible to all users. However, the inherent interactive nature of these maps make accessibility more difficult. The maps were created using Microsoft Power BI, which is accessible software. For more information on the tools’ accessibility features, visit the Microsoft website at https://docs.microsoft.com/en-us/power-bi/desktop-accessibility.
If you use assistive technology and the format of these maps/charts prevents you from using them, contact the RRC’s Accessibility Coordinator by emailing [email protected] or contact the RRC through Relay Texas at http://relaytexas.com/.
To enable us to respond in the most helpful way, please be sure to communicate the following:
1) the nature of your accessibility problem;
2) the format in which you prefer to receive the material;
3) the web address of the requested material; and
4) your contact information.
For more information on accessibility, please see our Accessibility Policy.
Last Updated: 1/24/2020 3:43:18 PM – See more…
In the battle for the world’s biggest oil market, the U.S. has a new advantage
By Alex Longley on 1/20/2020
LONDON (Bloomberg) – The U.S.-China trade agreement is set to intensify the battle for the world’s most prized oil market.
China’s imports of U.S. crude may reach 700,000 barrels a day or more this year, estimates from consultants show. That volume, 50% above the previous monthly record, would have put the U.S. among the top 10 suppliers to the Asian nation in the last month for which data is available.
As U.S. exporters look to re-establish their trade with the world’s largest crude importer, American barrels will find themselves in fierce competition with supplies from regions that produce similar quality oil, like West Africa and the North Sea. It’s China’s appetite for that lighter, less sulfurous crude, as well as the possible removal of a 5% tariff, that’s likely to dictate exactly how much U.S. oil flows there.
“If you look at the energy side it should translate into a rebound in Chinese imports of U.S. crude oil,” said Olivier Jakob, managing director of consultant Petromatrix GmbH in Zug, Switzerland. “If they come to realize what is written then a lot of the supply increase from the U.S. is going to go to China this year.”
U.S. exports to China, which surged through July 2018, slumped as trade tensions between the two countries escalated. The Asian nation, which accounted for two-thirds of oil demand growth in 2019, imposed a 5% tariff on U.S. oil from September, making it less economical for refiners. Read more…
EOG Resources sells saltwater disposal wells in New Mexico
Photo: Solaris Water Midstream LLC
Houston oil giant EOG Resources has sold nearly half of its saltwater disposal wells in the New Mexico side of the Permian Basin.
EOG Resources confirmed the sale of 23 saltwater disposal wells and 300 miles of oilfield wastewater gathering pipelines in southeastern New Mexico to Dallas-based Oilfield Water Logistics.
Financial terms were not disclosed but under the deal, EOG entered into a long-term contract with Oilfield Water Logistics for wastewater disposal services.
In a statement, Oilfield Water Logistics CEO Chris Cooper said the deal compliments the company’s current operations and doubles its geographic footprint in the Delaware Basin, an area of the Permian Basin that includes parts of West Texas and southeastern New Mexico. Read more…
Oil prices steady, on track for biggest yearly rise since 2016
Oil prices held steady on the final day of the year on Tuesday, heading for their biggest annual rise since 2016, supported by a thaw in the prolonged U.S.-China trade dispute and supply cuts.
Brent crude futures for March delivery, the new front month contract, were at $66.66 a barrel, down 1 cent, by 0258 GMT. Brent for February delivery closed on Monday at $68.44 .
U.S. West Texas Intermediate (WTI) crude for February was down 3 cents at $61.65.
Brent has gained about 24% in 2019 and WTI has risen roughly 36%. Both benchmarks are set for their biggest yearly gain in three years, backed by a breakthrough in U.S.-China trade talks and output cuts pledged by the Organization of Petroleum Exporting Countries (OPEC) and its allies. Read more…
WaterBridge Raises $345 Million for Permian Expansion
(Bloomberg) — WaterBridge Holdings LLC, a U.S. company that handles water for the fracking industry, is scooping up more infrastructure in the Permian Basin, this time from private equity-backed drillers.
The closely held company has acquired almost 100 miles (161 kilometers) of pipeline and seven disposal wells from Primexx Energy Partners Ltd., Warburg Pincus’s Tall City Exploration III LLC and Blackstone Energy Partners’ Jetta Permian LP, it said Wednesday in a statement.
“When you’re in your early phase of exploiting your resource, it’s very difficult to continue to grow at the pace you want by only drilling what your cash flow will allow,” David Capobianco, chairman of WaterBridge and chief executive officer of Five Point Energy, which backs the company, said in an interview. “It’s pushing these producers to sell their water midstream assets.”
To finance the deals, WaterBridge issued $195 million of common equity to private equity firm Five Point Energy, an affiliate of Singaporean sovereign wealth fund GIC Pte, and to its own management. It also issued $150 million of preferred equity to Magnetar Capital, which has the right to acquire another $100 million. Read more…
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