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Oil and Gas Economy in Texas Enters Expansion Cycle #OilmanNEWS 2017-May-June Alex Mills Texas 

Oil and Gas Economy in Texas Enters Expansion Cycle

WICHITA FALLS—Crude oil and natural gas drilling and development in Texas has embarked upon a new cycle of expansion, according to the latest Texas Petro Index (TPI), which improved to 160.4 in March to post its fourth straight monthly increase. “Economically speaking, the TPI data indicate that when oil and gas industry gathers in Wichita Falls in late April for... Read More
Exxon Mobil Looks to Build Petrochemical Plant in Texas #OilmanNEWS 2017-May-June Technology Texas 

Exxon Mobil Looks to Build Petrochemical Plant in Texas

Exxon Mobil’s and Saudi Basic Industries Corps’ joint plan to build a new petrochemical plant saw significant advancement on March 21, as a school board in southern Texas approved significant tax breaks for the company if it should choose to build in the region. The planned facility won $1.2 billion in tax breaks from the Gregory-Portland school district north of... Read More
Texas O&G Activity Increases for Second Straight Month #OilmanNEWS 2017-May-June Texas 

Texas O&G Activity Increases for Second Straight Month

The Texas Alliance of Energy Producers released its January Texas Petro Index (TPI) on March 7. The group, which represents the interests of the O&G industry by ensuring energy-friendly policies in both state and federal governments.  showed that upstream oil and gas activity in Texas increased for a second straight month, rising to 153.3 in January from 150.6 in December.... Read More
High Acreage Costs Price Out Competition in Permian #OilmanNEWS 2017 March-April Shale Texas 

High Acreage Costs Price Out Competition in Permian

The U.S.’ most saturated shale oil play has become too saturated with companies trying to squeeze out a profit. Land and asset prices are reaching for the sky and that new situation has many operators looking for “greener pastures.” The Permian bubble continues as land prices continue to climb. Acreage has climbed to $60,000 per acre, and that is off-putting... Read More
Oilfield Helping Hands Named 2017 Beneficiary of OTC Distinguished Achievement Award #OilmanNEWS 2017 March-April Texas 

Oilfield Helping Hands Named 2017 Beneficiary of OTC Distinguished Achievement Award

Oilfield Helping Hands (OHH) has been named the 2017 beneficiary of the Offshore Technology Conference (OTC) Distinguished Achievement Award. OHH is a nonprofit charitable organization, established in Houston in 2003, that is comprised of volunteers devoted to providing financial assistance to oilfield workers in financial crisis. “The OTC Distinguished Achievement Awards Luncheon does more than just support great causes in... Read More
Texas Petro Index Indicates an End to Two-Year Contraction in Oil and Gas #OilmanNEWS 2017 March-April Texas 

Texas Petro Index Indicates an End to Two-Year Contraction in Oil and Gas

Texas Petro Index (TPI) announced today that upstream oil and gas activity in Texas ended its 24-month-long contraction in December. TPI is a composite index based upon a comprehensive group of upstream economic indicators. The index peaked at a record 313.5 in November 2014 and fell to 150.6 in December 2016, up from 148.0 in November. “This is the moment... Read More
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