Oil Industry Celebrates Anniversary Of Oil Discovery #OilmanNEWS 2017 September-October Alex Mills Contributors 

Oil Industry Celebrates Anniversary Of Oil Discovery

America’s petroleum industry celebrates its 158th anniversary on Sunday. The American Oil and Gas Historical Society (AOGHS) reports that Seneca Oil Company hired former railroad conductor Edwin L. Drake to drill an oil well in Titusville, Pennsylvania, which produced oil on Aug. 27, 1859. The well was drilled to a depth of 69.5 feet, and it initially produced 25 barrels… Read More
Texas oil producers driving oil markets, leaving OPEC confounded #OilmanNEWS 2017 September-October Alex Mills Contributors 

Texas Oil Producers Driving Oil Markets, Leaving OPEC Confounded

Sizable year-over-year improvements in the rig count, drilling permits, and the value of Texas-produced crude oil and natural gas, along with renewed industry employment growth combined to push the Texas Petro Index upward in July to 176.9, the eighth straight monthly increase since a punishing 24-month contraction, which ended in November 2016 with a revised TPI of 149.2.  (Monthly TPI… Read More
Public Schools, Universities Benefit From Oil, Gas Production #OilmanNEWS 2017 September-October Alex Mills Contributors 

Public Schools, Universities Benefit From Oil, Gas Production

Crude oil and natural gas production in Texas has increased dramatically, bringing a flood of new dollars into the Permanent University Fund (PUF) and the Permanent School Fund (PSF). Both funds were established by the Texas Constitution in 1876, and encompass state owned lands in West Texas. Any revenue earned from the land was designated to the PUF to fund… Read More
‘Drill, Baby, Drill’ Plan Shows Results #OilmanNEWS 2017 September-October Alex Mills Contributors 

‘Drill, Baby, Drill’ Plan Shows Results

Just a few years ago there was a debate over energy policy that included the phrase “drill, baby, drill.”  The belief was that if drilling for oil in the U.S. increases so would oil production and gasoline prices would decline. President Obama, however, did not believe that more drilling and production of oil would have any impact on the price… Read More
OPEC Receives a Painful Economics Lesson #OilmanNEWS 2017 September-October Alex Mills Contributors 

OPEC Receives a Painful Economics Lesson

The Organization of Petroleum Exporting Countries (OPEC) is getting a first-class education in the law of supply and demand, i.e. when supply outstrips demand prices decline. It has been a painful lesson. And it is not over. In November 2014, OPEC member countries decided not to cut production even though there was clearly an oversupply of crude oil on the… Read More
Russia Ran Campaign Against U.S. Oil, Gas Activity #OilmanNEWS 2017 September-October Alex Mills Contributors 

Russia Ran Campaign Against U.S. Oil, Gas Activity

Russia has been in the news just about every day this year. The top news story recently involves Russia’s involvement in the 2016 Presidential elections, which was highlighted in a Jan. 6 report issued by the Office of the Director of National Intelligence. The declassified version of the report, entitled “Assessing Russian Activities and Intentions in Recent U.S. Elections,” included an analytic… Read More
#OilmanNEWS 2017 September-October Alex Mills Contributors 

Oil, Gas, Coal Dominate U.S. Energy Mix

Even though renewable energy has been the darling of state and federal governments for more than a decade, the old fossil fuels—oil, natural gas and coal—continue to generate most of America’s energy. Fossil fuels have provided more than 80% of total U.S. energy consumption for more than 100 years, according to the Energy Information Administration (EIA). EIA released a report… Read More
Oil and Gas Activity Continues to Expand #OilmanNEWS 2017 September-October Alex Mills Contributors 

Oil and Gas Activity Continues to Expand

Oil and gas activity in Texas increased for the sixth consecutive month in May, increasing 5.7 percent over a year ago, according to the latest Texas Petro Index (TPI) released today. All leading TPI indicators registered year-over-year gains in May, with the rig count and well-permitting activity both notching sharp increases. The TPI increased 9.1 points from 159.8 in May… Read More
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Hey, Don't Forget to Register for OILMAN ConnectThe Oil & Gas Virtual Conference & Expo November 5 & 6, 2019

We would like to invite you to attend the OILMAN Connect Virtual Conference and Expo. At OILMAN Connect, you will have the opportunity to visit companies showcasing their industry products, technology, and software solutions, as well as hear from oil and gas industry leaders presenting at our innovative webinar and speaker series - all with the click of a button. FREE to attend. Plus, we're giving away fantastic prizes during the show.