Oil Price Stability Leads To Increased Activity 2017 November-December Alex Mills Contributors 

Oil Price Stability Leads To Increased Activity

Crude oil prices stabilized in 2017 reversing a decrease in activity that began in November 2014. The Organization of Petroleum Exporting Countries, better known as OPEC, and some other oil-producing countries, such as Russia, agreed to cut oil exports by 1.8 million barrels per day (b/d).  The decline in exports and a rise in demand worldwide were key factors in… 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
Highest Thanksgiving Gas Prices Since 2014 to Hit Motorists #OilmanNEWS 2017 November-December Downstream 

Highest Thanksgiving Gas Prices Since 2014 to Hit Motorists

GasBuddy projects that Thanksgiving will see the highest average gas prices since 2014 as the country prepares for the busiest traveling weekend of the year. Yet the average gas price in four of five U.S. states is lower than a week ago, coming as the number of Americans driving is expected to surge by 20 percent* over last Thanksgiving according… Read More
Epic Pipeline Announces Capacity Agreement With BP Energy Company For New 650-Mile NGL Pipeline From The Permian Basin To Corpus Christi #OilmanNEWS 2017 November-December Texas 

Construction Begins on the New 650-Mile EPIC NGL Pipeline

Construction has begun on the first phase of the EPIC NGL Pipeline project.  The 650-mile EPIC NGL Pipeline runs from Southeast New Mexico to Corpus Christi. When complete in early 2019, the EPIC NGL Pipeline will have throughput capacity of at least 375,000 barrels per day with multiple origin points in the Delaware and Midland Basins. Destinations include interconnects near… Read More
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