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Weir Oil & Gas Acquires Pressure Control Provider KOP Surface Products #OilmanNEWS Texas Upstream 

Weir Oil & Gas Acquires Pressure Control Provider KOP Surface Products

Weir Oil & Gas has entered into an agreement to acquire KOP Surface Products, a provider of wellheads, surface trees, valves, actuators and aftermarket services for the oil and gas industry. KOP employs 450 people and is headquartered in Singapore, with a manufacturing facility in Batam, Indonesia, in addition to a network of sales and service offices in Malaysia, Thailand,... Read More
Gulf States May Suffer if Proposed Budget Cut is Approved #OilmanNEWS 2017 July-August Louisiana Texas 

Gulf States May Suffer if Proposed Budget Cut is Approved

Alabama, Louisiana, Mississippi and Texas received $36.5 million in payments between 2009 and 2016 due to an act passed by President Bush which allocated some offshore drilling revenue to Gulf states. However, if Congress approves a recently proposed budget cut from the Interior Department, these states may receive nothing from the companies which operate in the Gulf region. The Gulf... Read More
Increase in E&P Spending and Job Growth for Oilfield #OilmanNEWS 2017-May-June Texas 

Increase in E&P Spending and Job Growth for Oilfield

Since the unfortunate downturn of the oil market in 2014, Exploration and Production (E&P) spending in oil companies has taken a large hit because companies have been pushing for profitability by decreasing overall spending.  These efforts to cut spending were also manifested in the loss of thousands of jobs for workers in the oilfield and the office environment. However, these... Read More
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
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