Study Predicts Record High U.S. Oil Production In 2018 2018 January-February Alex Mills Contributors 

Study Predicts Record High U.S. Oil Production In 2018

Crude oil production in the U.S. is expected to reach record proportions in 2018, according to a study released this week by the Energy Information Administration (EIA). EIA stated in its Short-Term Energy Outlook (STEO) released Wednesday that it expects crude oil production to reach an average of 9.9 million barrels per day (bpd), which would surpass the previous record… Read More
U.S. Crude Oil Production Heads Toward Record #OilmanNEWS 2017 November-December Alex Mills Contributors 

U.S. Crude Oil Production Heads Toward Record

Crude oil production in the U.S. continues to push higher approaching the mythical 10-million-barrels-per-day mark, a level that has never been achieved. The rise in production has resulted in a decline in the price of oil and gasoline. The Energy Information Administration (EIA) reported this week U.S. oil production reached 9.78 million barrels per day (b/d), and the American Petroleum… Read More
Extension of production cuts reenergizes upstream activity in Texas 2017 November-December Alex Mills Contributors 

Extension of Production Cuts Reenergizes Upstream Activity in Texas

The agreement among major crude oil exporters to extend production cuts through next year has had the unintended consequence of breathing new life into the revival of upstream oil and gas activity in Texas, according to Karr Ingham, the creator of the Texas Petro Index, which increased for the 11th consecutive month in October to 183.2. “According to the TPI,… Read More
2017 November-December Alex Mills Contributors 

Survey: Texas Best Place For Oil And Gas Investment

Petroleum industry executives think Texas is a good place to do business.  As a matter of fact, they think it is the best place in the world for investment in oil and gas exploration and production, according to a recent survey. The Fraser Institute recently issued its 11th annual survey of petroleum industry executives and managers regarding barriers to investment… Read More
Gasoline, Crude Oil Prices Hold Firm #OilmanNEWS 2017 November-December Alex Mills Contributors 

Gasoline, Crude Oil Prices Hold Firm

Gasoline prices followed crude oil prices upward during the Thanksgiving weekend. Crude oil prices on the New York Mercantile Exchange closed at $58.02, and retail regular-grade gasoline averaged $2.57 cents per gallon. The Energy Information Administration (EIA) said gasoline increased 41 cents per gallon from the same time last year. “Although gasoline prices are higher than in both 2015 and… Read More
Oil and gas industry future looks ‘attractive’ #OilmanNEWS 2017 November-December Alex Mills Contributors 

Oil and Gas Industry Future Looks ‘Attractive’

After two years of declining prices and reduced employment, the oil and gas industry in Texas and across the nation appears to be making a comeback. A recent report by Morgan Stanley stated: “The exploration and production (E&P) outlook is attractive.” “Energy sentiment has improved from two months ago, as the oil supply and demand balance has tightened and revisions… Read More
Oil and gas index shows Texas producers continuing to recover #OilmanNEWS 2017 November-December Alex Mills Contributors 

Oil and Gas Index Shows Texas Producers Continuing to Recover

WICHITA FALLS—Upstream oil and gas activity in Texas sustained a modest expansion into the 10th straight month in September, according to the Texas Petro Index, which rose to 181.4, 21.4 percent higher than in September 2016 and 22.4 percent higher than in November, when the TPI hit bottom at 148.2. “Crude oil prices in Texas have been the essence of… Read More
Confusion Reigns Supreme In Analysis Of Oil Market #OilmanNEWS 2017 November-December Alex Mills Contributors 

Confusion Reigns Supreme In Analysis Of Oil Market

Conflicting news about crude oil supply and demand created confusion for oil traders last week. In summary: refinery runs were back to normal; petroleum exports set a record; crude oil production had a big increase; oil inventories increased nationwide, but declined at Cushing, as did gasoline and distillate inventories. Sound confusing? It is. However, the bottom line is oil prices… Read More
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